jason freed
From Revenue to Profit: A Culture Shift in Hotel Commercial Strategy
Otelier | August 8, 2024
Amid challenges like flatlining demand and increased pricing pressure, forward-thinking hotel commercial strategy teams are shifting their focus from driving revenue to driving profitability. By Jason Q. Freed Hospitality Data Evangelist, Otelier As pandemic-induced “revenge travel” wanes and inflation continues to squeeze travelers’ wallets, many hotels are finding rising operating costs are outpacing revenue growth. The result is a widespread decline in profit margins. Given these conditions, for hotel owners and operators, focusing on strategies to drive profitability over the near term is critical. In many cases, this requires ...
AI and Data Analysis Dominate Discussions at HITEC and HSMAI in Toronto
Jason Freed | July 7, 2023
MDO is back from a busy week in Toronto talking all things Artificial Intelligence and Data Analysis! At the Revenue Optimization Conference, held as part of HSMAI’s Commercial Strategy Week in conjunction with HITEC, the vibe focused on how an influx of readily available data is leading to modern approaches to revenue strategy. In a panel discussion titled, “Beyond the Rs: Revenue Strategy is More than Rooms Revenue, Rates, and RevPAR,” Jenna Villalobos, Senior VP of Commercial Strategy at Outrigger Hospitality Group, and Kathleen Cullen, Senior VP at PTG Consulting, shared a wealth of best practices for moving from a revenue m...
Next Up for Revenue Managers: Tackling Ancillary Outlets
June 2, 2023
By Jason Q. Freed As a large majority of hotels have adopted some sort of dynamic pricing for their rooms, the next evolution of revenue management is moving beyond rooms, and many leaders have adopted total revenue management strategies for a more holistic approach. One area that is ripe for innovation is F&B Revenue Management, and hotels are adopting the same principles and techniques that apply to room revenue management in their various F&B outlets, including full-service restaurants, bars, coffee shops, and grab-and-go marketplaces. F&B revenue management techniques largely focus on dynamic pricing, or adjusting the...
What Can Hoteliers Really Learn From TrevPAR?
Jason Q. Freed | May 16, 2023
By Jason Q. Freed Ancillary revenues are skyrocketing and total revenue figures can help hotels benchmark performance against their comp set, but operational decisions should be made by diving deeper. Because it provides a more holistic view of the revenue generated across an entire property, more hospitality leaders are turning to TrevPAR (Total Revenue Per Available Room) as a key measurement in their benchmarking and operational strategies. To calculate TrevPAR, hotels add all revenue generated from room sales, food and beverage sales, meeting room rental and spa services, and other sources of revenue, such as parking, resort fees...
Hotel Data Strategy: The First Step Is Admitting There’s a Problem
Jason Q. Freed | October 27, 2022
By Jason Q. Freed There are three stages of the hospitality data lifecycle, starting with adopting the cloud for digital document management. As an industry we've made progress, now let's unpack the work that remains to be done. To best understand where the hospitality industry stands in terms of its adoption of digital tools and cloud-based solutions, it’s important to step back and look quickly at the big picture. First, as far away as it seems, remember that the internet itself wasn’t a widely popular tool until about 20 years ago. But it changed the game so quickly for consumers that businesses scrambled to adopt their operat...
