Editorial Board   Guest Author

Mr. Hopkin

Sir Royston Hopkin

Owner & Chairman, Spice Island Beach Resort

Sir Royston O. Hopkin KCMG, is a dedicated philanthropist and owner and chairman of the award-winning Spice Island Beach Resort in Grenada. He has had an extensive and distinguished career in the hospitality and tourism industry spanning more than 48 years of contributions to his home country, Grenada, and the entire Caribbean region. Sir Royston began his tourism career when he joined the family business at the Ross Point Inn in 1965, and at the age of 20, he was appointed to the Grenada Board of Tourism where he served for 18 consecutive years. He holds the distinction of being the first Grenadian to be elected president of the Grenada Hotel Association (an accomplishment at the age of 24), a position he held 14 times. At a regional level, Sir Royston has served on the board of the Caribbean Hotel & Tourism Association (CHTA), and since 1970, has held numerous positions including director, vice president, president and chairman. During his tenure with CHTA, he founded the Small Hotels Committee, which today is still one of the most important sub-committees. He has also served on the board of the Caribbean Tourism Organization (CTO). Sir Royston is the recipient of several prestigious awards including the coveted CHTA “Hotelier of the Year” honor, Lifetime Achievement Award from both CTO and CHTA, Grenada's Silver Anniversary Independence Awards for 25 years of dedicated service, and several other awards from the Grenada Hotel Association. Perhaps his greatest honor occurred in December 2004, when Her Majesty Queen Elizabeth II graciously conferred the title of Knight Commander of The Most Distinguished Order of St. Michael and St. George (KCMG) for his contribution to tourism in Grenada and throughout the Caribbean. Sir Royston is married to Lady Betty Hopkin and has three children, Ryan, Nerissa and Janelle.

Mr. Hopkin can be contacted at 473-444-4258 or info@spicebeachresort.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.