Editorial Board   Guest Author

Mr. Johnson

Russell A. Johnson

President and CEO, Merchants Information Solutions

Russell A. Johnson, President & Chief Executive Officer of Merchants Information Solutions since 2004, a founding and accredited member of the National Association of Professional Background Screeners (NAPBS), is a respected thought-leader with over 9 years of experience within the employment screening industry. Mr. Johnson regularly advises organizations and industry groups nationwide on background screening best practices, and the direct positive impact of hiring the best candidates. Mr. Johnson holds a BS degree in Business Administration from the University of Wisconsin-LaCrosse and is an alumnus of the Graduate School of Bank Management from the University of Virginia. He has numerous business, educational, and professional affiliations and is a respected leader in the financial services industry. Currently Mr. Johnson serves as a board member and Vice-Chairman of the Executive Committee for the Maricopa Community Colleges Foundation and Board Member and Secretary and Treasurer for the Greater Phoenix Chamber of Commerce. He is also a former member and chairman of the Board of Directors for Consumer Credit Counseling Services.

Mr. Johnson can be contacted at 602-744-3700 or rjohnson@merchantsinfo.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.