Patti A. Sedlacek Named Vice President of Revenue Management at Hostmark Hospitality Group

USA, Schaumburg, Illinois. August 28, 2019

Officials of Hostmark Hospitality Group, an award-winning hotel management company specializing in unique lifestyle hotels and resorts as well as branded properties, today announced that Patti A. Sedlacek has been named vice-president of revenue management. In her new role, Sedlacek will work closely with the company's hotel general managers and sales teams to improve business planning and pricing.

"Patti has spent the past two decades honing and perfecting her revenue management skills, and her hotels' bottom lines have benefitted from her expertise," said Jerome F. Cataldo, president & CEO, Hostmark Hospitality Group. "She worked hand-in-hand with our recently named COO, Ron Vlasic, as they helped grow Kimpton Hotels & Restaurants into a nationally recognized hospitality platform."

Previously, Sedlacek held numerous increasingly important positions with Kimpton Hotels & Restaurants, culminating in a regional director of revenue management title. In that role, she oversaw a team of 10 revenue management specialists servicing 10 hotels in Ill., Wis., Minn., Texas and Ariz. Prior to that, she served as director of revenue management for the Embassy Suites by Hilton Chicago, Ill., where she improved hotel revenues by eight percent. Additionally, Sedlacek received the 2012 Bill Kimpton Award for Revenue Management.

"I enjoy the challenges associated with companies growing from smaller, regional entities into national powerhouses," Sedlacek noted. "Hostmark already is a well-respected name within the hospitality industry, and the company clearly is eager to move to the next level with its recently announced internal and external growth plans. I look forward to helping Hostmark meet and exceed its business objectives."

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Coming up in October 2019...

Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.