Editorial Board   Guest Author

Dr. Erdem

Mehmet Erdem

Associate Professor of Hotel Operations & Technology, Hotel College, UNLV

Dr. Mehmet Erdem is an Associate Professor of Hotel Operations and Technology at the Hotel College of University of Nevada Las Vegas (UNLV) as well as the President of International Hospitality Information Technology Association (iHITA). Prior to UNLV, he taught in the College of Business at University of New Orleans and in the School of Learning Design and Technology at Purdue University. He is the recipient of the 2011 International CHRIE Innovation in Teaching Award. Dr. Erdem has over 10 years of domestic and international lodging operations experience. As part of his industry tenure, he was responsible for training and development, rooms division, and information systems. A technology and instructional design consultant, he also serves as an executive program trainer for the International Gaming Institute (IGI) in Las Vegas. Dr. Erdem is actively involved as a board and council member in several industry and academic associations. In 2011, he was recognized with the Organizational Leadership Award by Global Information Technology Management Association (GITMA). As a hospitality scholar, Dr. Erdem has authored over sixty research articles and conference proceedings. In the past five years, he has been awarded over $800K in research grants and projects. He regularly presents his research findings at professional and academic conferences in the US and abroad.

Dr. Erdem can be contacted at 702-895-5811 or mehmet.erdem@unlv.edu

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.