Editorial Board   Guest Author

Mr. Fawell

Richard Fawell

Design & Managing Principal, VOA Associates Incorporated

Rick Fawell, AIA, NCARB, IIDA, is currently Design and Managing Principal of the two VOA offices in China and has been designing and planning Hotel, Resort and Residential projects over the past 35 years across the United States and currently in China and Southeast Asia. Mr. Fawell has studied, worked and lived in Paris, France and Helsinki, Finland as well as Boston and Chicago in the United States and since 2009 has resided in Beijing. The Beijing and Shanghai offices of VOA are responsible not only for the hospitality work in China but also currently in South Korea, Vietnam and Cambodia. VOA is also in the midst of large resort master-planning projects throughout Asia. Mr. Fawell has been with VOA as a Principal for the past 19 years, the past seven years predominantly in Asia. VOA is currently in various stages of design and construction on new luxury hotels, residential projects, and resorts throughout China and the rest of Asia.

Mr. Fawell can be contacted at 312-453-7554 or rfawell@voa.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.