Editorial Board   Guest Author

Mr. Kofsky

Michael Kofsky

Director of Sales & Marketing, Manchester Grand Hyatt San Diego

Michael Kofsky has been with Hyatt Hotels for over ten years sharing his expertise in hospitality and proven dedication to the renowned brand at several destinations throughout the country. Mr. Kofsky has worked with Hyatt Regency Tampa, Hyatt Regency Denver, Hyatt Regency Minneapolis and most recently in Southern California, where he joined the Manchester Grand Hyatt Hotel San Diego team as the Director of Sales and Marketing in early 2010. Mr. Kofsky has consistently been recognized for his excellence and has been nominated as “Director of Sales of the Year” and his team was nominated as the “Sales Team of the Year.” He has also served on the Hyatt Sales Advisory and Customer Advisory Boards. Since joining the iconic San Diego hotel, Mr. Kofsky has assisted in managing the hotel's extensive multimillion dollar transformation beginning in 2012, one of the largest hotel renovations in Southern California. Leading a sales team consisting of 29 colleagues, Mr. Kofsky is responsible for overseeing varying aspects of the Manchester Grand Hyatt, including revenue forecasting, developing business plans, and owner relations. Additionally, Mr. Kofsky's other accountabilities include the recruitment and hiring of the hotel's sales team, training, managing and coaching sales managers in their selling process in order to meet company goals and maximize hotel revenues, business analysis, and community relations for the 125,000 sq ft., 1,628 room property.

Mr. Kofsky can be contacted at 619-232-1234 or michael.kofsky@hyatt.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.