Editorial Board   Guest Author

Mr. Sullivan

Michael Sullivan

Shareholder, Greenberg Traurig

Michael Sullivan is the co-Managing Shareholder of the Orlando office of Greenberg Traurig and is the co-Chair of Greenberg Traurig's Hotels, Resorts and Clubs Practice Group. Mr. Sullivan specializes in the representation of real estate developers, national hotel chains, lenders and owners in the purchase, development, finance, leasing, operation, management and licensing of hotels, condo-hotels, and resorts. He has extensive experience in the negotiation of both public and private hotel management contracts and has negotiated public/private ventures on behalf of hotel companies and owners with local governments and publicly owned convention centers. He has extensive experience in hotel insolvency proceedings including loan work-outs, foreclosures and bankruptcies. In addition, Mr. Sullivan's practice includes development of complex mixed use real estate developments and the purchase, sale and financing of retirement communities, medical office buildings and senior living communities. Mr. Sullivan received his Juris Doctor degree, with Honors, from the University of Connecticut School of Law in 1984 and his Bachelor of Arts degree in 1980 from Yale University.

Mr. Sullivan can be contacted at 407-420-1000 or sullivanm@gtlaw.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.