Editorial Board   

Mr. Carr

Bob Carr

Chairman & CEO, Heartland Payment Systems

Bob Carr founded Heartland Payment Systems, the nation's fifth largest payments processor in 1997. Under his guidance, Heartland has been named a FORTUNE 1000 company; climbed the rankings from #62 to #5 in the nation and #9 in the world; from 25 to 3,400 employees; from 2,500 to 250,000 business locations and from a portfolio of $0.4 billion in bankcard volume to more than $80 billion. Heartland is the official preferred provider of card processing, gift marketing, check management, payroll and tip management services for the American Hotel & Lodging Association and 38 state lodging associations. Mr. Carr spearheaded The Merchant Bill of Rights (www.merchantbillofrights.org) - a revolutionary public advocacy initiative to promote fair card processing practices on behalf of all business owners. He has been a driving force in the enhancement of payment card security and at the helm of the development of “E3™, (www.E3secure.com) Heartland's end-to-end encryption technology that is designed to protect cardholder data at rest and in motion throughout the lifecycle of card transactions. Mr. Carr received his Master of Science degree in computer science and his Bachelor of Science degree in mathematics from the University of Illinois (Champaign-Urbana), as well as an honorary PhD from Lewis University.

Mr. Carr can be contacted at Bob.Carr@e-hps.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.