Editorial Board   Guest Author

Mr. Barker

Ned Barker

President, Grill Ventures Consulting, Inc.

Ned Barker is a hotel industry veteran and principal of Grill Ventures International. In a former role as Vice President of F&B Franchise Services for InterContinental Hotels Group (IHG), Mr. Barker worked with both hotels and third-party restaurants to create win-win partnerships. Specializing in F&B solutions, Grill Ventures works with both hotel and restaurant companies. Grill Venture's work includes concept development, strategy, operations / marketing review & analysis, and special one-off project assignments. Mr. Barker is a noted speaker who delights at sharing his expertise at hospitality and hotel management conferences. He is a frequent contributor to food and beverage publications such as In The Mix Magazine and Hotel F&B Magazine. Mr. Barker serves on the board of the Global Soap Project (www.GlobalSoap.org) which recycles discarded hotel bar soap into new bars that are shipped to vulnerable populations around the world. He is a graduate of the University of Michigan, and serves on the American Hotel & Lodging Association's (AH&LA) F&B Council.

Mr. Barker can be contacted at 404-547-1900 or Ned@Grillvi.com

Coming up in October 2020...

Revenue Management: Maximizing Profit

Hotel Revenue Management continues to evolve at a blistering pace. Driven by technological innovation and new distribution channels, there are some dynamic opportunities for expansion in this fast-growing field. The technology is primarily designed to help revenue managers further refine their operations and pricing models to maximize hotel profit. For example, hotels can't be all things to all people, so a key strategy is to precisely identify their target audience. By employing geo-targeting techniques and analyzing behavior such as previous bookings, on-property purchases and online shopping practices, there is an increased capability to define guest demographics. By segmenting customers in more specific ways, hotels are able to create more personalized experiences which, in turn, allow managers to optimize their room rates. It is also an effective way to fulfill the unique needs and preferences of the individual. Another methodology is to consistently monitor the competition's pricing strategies. There are software tools that analyze a competitor's current rates, and then allow a hotel to make its own pricing adjustments. It is also a useful means to conduct forecasting models. Other technologies that are being integrated into a revenue manager's toolkit include Artificial Intelligence in the form of automated algorithms, and Voice Recognition (VR) for data inquiries, rate changes, and booking behavior. Predictive and analytic software programs are also being leveraged to provide more forward-looking data, instead of the usual reliance on historical performance. These metrics allow managers to be more proactive - rather than reactive - with their revenue strategy. The October issue of the Hotel Business Review will examine these developments and report on how some leading hotels are executing their revenue management strategies.