Editorial Board   Guest Author

Mr. Parker

Jeffrey Stephen Parker

Vice President of Technology , Stout Street Hospitality/Magnolia Hotels

Currently the Vice President of Technology and Chief Funologist for Denver-based Stout Street Hospitality, Jeffrey Parker's responsibilities include all communications and technology projects for the management company and its core brand, Magnolia Hotels, including System and data security, and infrastructure design and operations support for over 500 employees. Some of his recent high-profile projects include the deployment of VMware, Libra on Demand, HotSOS, Airwatch, and Google Apps for Business. Parker is a nationally recognized leader in data security; notably with relation to PCI compliance. He holds a bachelor's degree in Technical Communications from Metropolitan State College of Denver and has been working in the industry for over 25 years. As VP for Stout Street, Mr. Parker has championed the commitment of the company to invest in technology that lowers the cost of compliance while maintaining high-security and accessibility. As Chief Funologist for the company, Mr. Parker is also responsible for the company executives morale and teamwork initiatives. Denver-based Stout Street Hospitality, a privately held hotel management and development company operates upscale boutique hotels catering to the sophisticated traveler. The company focuses on development, management, acquisition, re-branding, new construction and conversation of existing hotel properties. The core product line consists of award-winning, independent boutique hotels under the Magnolia brand that offer a style unlike that of trendy or branded hotels. The company currently operates hotels in Denver, Colo.; Dallas, Houston, and Bryan, Texas; and Omaha, Neb., and is exploring other markets for additional growth opportunities.

Mr. Parker can be contacted at 303-351-1649 or jparker@stoutstreethospitality.com

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.