Editorial Board   

Mr. Freid

Hank Freid

CEO and Founder , Impulsive Group

Hank Freid has been a driving force within New York City's real estate community for over 30 years. As CEO and Founder of the Impulsive Group, a lifestyle hospitality company, this hotelier has built an impressive portfolio of chic and intimate properties throughout Manhattan including: the sophisticated, four-star Ameritania Hotel located in the Broadway theater district; the Moroccan-themed Marrakech Hotel nestled in the Upper West Side; and his newest acquisition, The Sanctuary Hotel situated in the heart of Times Square. An international businessman, each of Mr. Freid's hotels caters to a global audience offering a unique, cosmopolitan design and superior service and accommodations. In addition to a collection of urban retreats, the Impulsive Group owns Impulsive Charters, a fleet of luxury yachts that operate in the Mediterranean and Bahamas and Paramount Buildings, a renovation firm that specializes in residential remodeling and design.

Mr. Freid can be contacted at 212-247-2211 or hank@impulsivegroup.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.