Editorial Board   Guest Author

Mr. Sorci

Jason Sorci

Partner & Chief Financial Officer, Architectural Design Consultants, Inc.

Jason Sorci is the Chief Financial Officer, Vice President, and a partner at Architectural Design Consultants, Inc. (ADCI) an architectural firm internationally recognized for its work in the design of hotel resorts and indoor water-parks headquartered in Lake Delton, WI. In addition to his CFO duties, Jason is actively involved in both new client development and project management. Prior to joining ADCI in 2006, Mr. Sorci managed a structural consulting firm in Madison, WI working with a variety of clients designing and managing the design of several significant indoor waterparks, resorts, and high-rise buildings. At ADCI, Mr. Sorci uses his background in engineering to help guide project conceptual design, manage key engineering consultants, and provide an additional layer of quality control, constructability review, and construction cost control. Mr. Sorci received his Bachelor's Degree in Civil Engineering and Master's Degree in Structural Engineering from Marquette University and a Master of Business Administration from University of Wisconsin - Milwaukee.

Mr. Sorci can be contacted at 608-254-6181 or j.sorci@adcidesign.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.