Editorial Board   

Ms. Walters

Michele Walters

Co-Founder, Origin World Labs

Michele Walters is Co-Founder and Head of Guest Behavior Analytics for Origin World Labs. Ms. Walters is an expert in the field of Consumer Behavioral Analytics for leisure industries. She has led guest behavioral research projects and departments for some of the world's leading entertainment and hospitality companies including Walt Disney, Universal Studios, and Discovery Communications. She has 16 years of experience supplying customer-centric analytic solutions and predictive models in US domestic, US Hispanic, European and Latin American/Caribbean markets. Ms. Walters holds an MBA and a Master's of Science in Marketing from University of Miami. She is responsible for driving the strategy and execution of Origin World Lab's services. Origin World Labs(OWL) creates the customized analytics models that optimize Pricing, Marketing and Operations for the best companies in Hospitality. Our team creates new value by embedding model-driven intelligence into every hotel managerial process. OWL is a lab of Mathematicians, Behavioral Scientists, Information Technology veterans and a bunch of brilliant, energetic, award-winning statisticians united by our passion for analytics. OWL runs the math that runs the best hotels in the world. Learn more by visiting the website at [www.forsmarthotels.com][1] [1]: http://www.forsmarthotels.com

Ms. Walters can be contacted at 305-303-0284 or

Coming up in October 2019...

Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.