Editorial Board   Guest Author

Dr. Mitchell

Brian Mitchell

Principal, Mitchell Performance Systems

After completing a PhD in Psychology at the University of Sydney, Brian Mitchell spent several years in clinical practice. Moving into retail consulting with the Mandev International group he became President of the North American, Asian, and Australian operations, and a sought after international speaker on the subject of retail sales productivity. He also pioneered performance management systems within a major football code. In the mid-1990's Dr Mitchell established Mitchell Performance Systems (MPS), consulting to the consumer packaged goods industry. The company worked with industry leaders in the US and other regions, on techniques to improve sales and negotiation performance within field force and account management teams. This experience has also been applied to improving revenue and profits in restaurant Food & Beverage. He has completed three books on wine, in collaboration with Evan Mitchell - including the 2009 US Praeger hardcover The Psychology of Wine, now released in a revised eBook edition for Apple and Kindle ([www.psychologyofwine.com][1]). A joint paper to the 7th International WineHealth conference on the generational dangers facing the wine industry, led to the establishment of Love & Wine, a digital creative agency for wine producers. MPS is now actively involved in research and development of consumer marketing strategies for the Millennial generation, based on psychological principles. [1]: http://www.psychologyofwine.com/

Dr. Mitchell can be contacted at brian@loveandwine.com.au

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.