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 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.