Editorial Board   Guest Author

Ms. Bair

Amy Bair

Career Services Analyst, Florida International University's Chaplin School of Hospitality and Tourism Management

Amy Bair is a Career Services Analyst at Florida international University's Chaplin School of Hospitality and Tourism Management. In this newly created role, Ms. Bair tracks and measures the impact, progress and effectiveness of the Career Development Office (CDO). Additionally, she measures graduate and alumni salaries, job positions, employment status, etc. These multiple indicators are then studied to determine how the Career Development Office and college can best benefit the students. Ms. Bair began the journey of obtaining a second Bachelor's degree in Hospitality Management where she was fortunate enough to take Professor Greg Bohan's Revenue Management course. Amy also holds a Bachelor of Science and Master of Science in Information Management from Arizona State University. Ms. Bair can be reached at abair@fiu.edu.

Please visit www.fiu.edu for more information.

Ms. Bair can be contacted at 305-919-4534 or amymdit@gmail.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.