Editorial Board   Guest Author

Mr. Jost

Benjamin Jost

Co-Founder & CEO, TrustYou

Benjamin Jost is co-founder and chief executive officer of TrustYou. Since 2008, TrustYou has set the standard for reputation management with solutions for hospitality-industry businesses to analyze online reviews, tweets and posts across the social web, to gather trusted reviews directly from its customers, and to use the authentic conversations to successfully market online reputations. TrustYou monitors over 400,000 hotels, providing an extensive base for competitive analysis, capturing sentiment and opinions from millions of comments in one easy-to-view place from sources like TripAdvisor, Facebook, Google+, Twitter, Yelp and more across 23 different languages. Mr. Jost is an expert on social semantic search and is leading the big data revolution in hospitality. As CEO he has been instrumental in the company's growth from two to 70 people with more than 13,000 customers in 60 countries. TrustYou's clients include individual hotels, independent boutique chains, destinations and major global brands such as Accor, Marriott, Starwood, Hard Rock Cafes and Best Western Hotels. Started in Munich, Germany, TrustYou is now a global company with USA headquarters in Dallas, Texas and offices and sales representation in U.K., the Netherlands, France, Central Europe, Asia and Australia. Mr. Jost is extremely hands-on with TrustYou's international team hailing from 23 countries and speaking more than 20 different languages. He oversees product development, as well as all PR and marketing for TrustYou. Mr. Jost personally interviews all engineers for the research & development team and less than five percent make the final cut. Mr. Jost has was a driving force in the acquisition of USA-based ReviewAnalyst in 2011 and the company's partnerships, spanning an impressive variety of organizations; from tech companies like Google, Trust and Micros, to destination-specific alignment with Germany and Switzerland to develop the countries' official star-rating systems for hotels. Prior to TrustYou, Mr. Jost spearheaded the Southern European M&A team for one of the world's leading renewable energy providers and oversaw hundreds of investment cases covering a profusion of renewable technologies. He started his career in venture capital at Siemens Venture Capital and Xange Capital. During his studies he conducted extensive research into the security aspects of mobile applications systems and organic RFID. Mr. Jost holds a MsC in engineering from the University of Technology in Munich and conducted research at the ENST Paris and the University of Washington Business School, Seattle.

Mr. Jost can be contacted at 011 49 89548 02925 or benjamin.jost@trustyou.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.