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ROC attendees receive credit for 8 hours of continuing education for CRME and CHDM certification and re-certification. Earn an additional 3-5 hours for attending a pre-ROC workshop on Tuesday, June 27.
Keynote Speaker: A Revenue Manager's Guide to Surviving in the Digital Economy
Revenue management is right in the center of the hospitality industry’s digital transformation. There are many new forces that are impacting our ability to build profitable pricing strategies. Before we dig into the details today, let’s set the stage with some tips on what RMs will need to do to survive and thrive in today’s dynamic digital economy.
Dr. Kelly McGuire, VP Advanced Analytics, Global Analytics for Wyndham Destination Network, Author and Analytics Evangelist, and member of HSMAI's Revenue Management Advisory Board
View from the Top
A panel of industry leaders will bring their diverse perspectives to bear on today's hotel landscape, what the future holds for revenue management in hotels, and other important issues affecting the practice today:
- Moderated by David Warman, Vice President, Revenue Management & Distribution Operations, Four Seasons Hotels & Resorts
- Lennert de Jong, Director of Distribution and Business Development, citizenM hotels
- Dave Roberts, Senior Vice President - Consumer Insights and Revenue Strategy, Marriott International
- Mark Woodworth, Senior Managing Director | Head of Lodging Research, CBRE Hotels | Americas Research
- Additional panelists to be announced
The awards ceremony immediately following lunch will shine the spotlight on the incredible talent and accomplishments of revenue management leaders. We will honor the Vanguard Award honoree for lifetime achievement in revenue management, the Revenue Management Professionals of the Year, and the Certified Revenue Management Executives (CRMEs) in attendance.
- Dr. Sherri Kimes, Professor, Cornell University (Vanguard Award recipient)
- Tim Kayser, CRME, Director of Revenue Strategy, Grand Geneva Resort and Spa (Revenue Management Professional of the Year - Single/Multi Unit)
- Jennifer Mooney, CRME, CSM Lodging, CSM Lodging (Revenue Management Professional of the Year - Single/Multi Unit)
- Yira Segarra, CRME, Director of Function Space Revenue Management, Loews Hotels & Resorts (Revenue Management Professional of the Year - Corporate)
Keynote Speaker: Find Your Edge
Alan Lewis, Managing Director and Partner at LEK Consulting, and co-author of Edge Strategy: A New Mindset for Profitable Growth, will share key insights for how ROC attendees can leverage substantial opportunities for growth that are often hidden in plain sight.
2020 Lightening Round
Back by popular demand, during this series of short presentations, engage with subject-matter experts and your peers to understand what revenue management strategies are working, and in what ways. This fast paced format allows you to learn directly from the practitioners behind the case studies. Topics to be addressed include:
- Jedi Mind Tricks: What Every Revenue Manager Needs to Know about the Psychology of Pricing
- Driving Revenues + Guest Satisfaction: A Collaborative Effort
- What to do with that Last-Minute Booker
- The Art of Negotiation
- The Rise of Metasearch: How these sites can help steer direct bookings
- Big Data for Visual Learners
- Marketers Are from Mars, Revenue Managers Are from Venus
Detailed descriptions, including speaker information, will be updated regularly. Check back often for the latest details.
|11:15 am - noon||Data Science 101||Data & Analytics||Revenue management professionals are under increasing pressure to extract knowledge and insights from vast amounts of data. Enter Data Science.
This session will provide you with an understanding of data science terms and applications, as well as a realistic perspective on the costs and expected results associated with the application of complex analytic methodologies. We will discuss the role of advanced data science in our day-to-day lives, as well as describe the talent and technology resources required to effectively perform complex analytics. Finally, we will touch on costs and the expected benefit over traditional analytic methods.
At the end of the session, you will:
Nancy Pyron, Senior Director, Operations Research and Revenue Management, Marriott International
|11:15 am - noon||Increasing the Efficiency & Effectiveness of Owner Relations||Leadership & Influence||No matter the scenario — industry, sports, or hotels — a collaborative relationship is more effective in optimizing results than an adversarial relationship. And one of the most important factors in developing a collaborative relationship is trust and mutual respect.
Through the eyes of an owner, Andrew will share insights and advice about how you and your teams can best cultivate productive relationships with asset managers in order to optimize the success of your hotel. This session will provide a road map for more effective and productive working relationships between revenue management teams and asset managers (and ultimately owners and investors).
Andrew Leber, Senior Vice President, CHMWarnick
|11:15 am - noon||The Economic & Geopolitical Outlook: What are the risks and opportunities ahead?||Environmental Forces||Knowing where an economy is headed allows you to make smarter, more confident decisions. The problem these days is that hoteliers and other business leaders have to navigate through an unprecedented minefield of political, economic, and geopolitical hazards. What then is the most likely path for the U.S., Canada, and other economies? Which economic risks and geopolitical hot spots pose the greatest threats to growth — and how can you best prepare for such events?
Bernard Baumohl will help you understand how exogenous shocks will occur more frequently in the future, with larger impacts on revenues and earnings. You’ll leave understanding what steps you can take to protect your business from such disruptive events.
Bernard Baumohl, Chief Global Economist, The Economic Outlook Group, LLC
|1:15 - 2:00 pm||Getting the Price Right||Data & Analytics||While significant efforts and resources have been invested in the Revenue Management science, the art of Pricing has stagnated. Too often, relative positioning to a basket of properties remains the preferred price setting method, and different categories of rooms are priced at a set differential. Hotel P&RM organizations need to reinvigorate the art of Pricing — a significant value is at stake. This session will share real life examples of “pricing champions” and their applicability to the hotel industry.
Rasvan Dirlea, Principal, ZS Associates
|1:15 - 2:00 pm||Speed Meet: Sparking Connections, Conversations, Insights, & Inspiration||Leadership & Influence||Putting a new twist on the classic speed dating format, this networking session will spark interesting and meaningful connections and conversations, and leave you with valuable insights and inspiration.
The fast-paced format will allow you to meet today’s cutting-edge revenue optimization leaders, learn what they are grappling with and planning for, and ask for insight and advice about challenges you are facing.
You’ll meet CROs from brands, management companies, and ownership groups. The full roster of Speed Meet CROs will be announced in June.
This is a no-sell zone – please leave your business cards and elevator pitches behind.
|1:15 - 2:00 pm||M&A Two Ways: Financial and Operational Perspectives on Travel Industry Acquisitions||Environmental Forces||Details coming soon|
|3:15 – 4:00 pm||Drive Innovation while Leveraging Analytics: Lessons from Airline, Cruise, Amusement, and Retail||Data & Analytics||In the last decade, revenue management concepts and systems have been carried from hotels to new industries, with lots of innovation along the way. At the same time, mega trends like Big Data, Machine Learning, Digital Transformation, and Artificial Intelligence are driving disruption and value-driving innovation across all industries.
Hotels have an opportunity to leverage learnings from other industries — especially airlines, cruise, amusement, and retailers — and to re-imagine revenue management and the opportunities for organic growth.
At the end of this session, you will understand how other industries are applying simple strategies to maximize revenue and profits. You’ll leave prepared to shamelessly steal good ideas from outside of hotels, and to apply them to your business to maximize share of wallet.
Matt Busch, Partner, Revenue Analytics
|3:15 – 4:00 pm||Think Like an Owner||Leadership & Influence||Owners invest in hotels with the expectation of a good return, and task their asset managers with optimizing the short- and long-term value of the asset — the hotel. At the same time, revenue managers are charged with optimizing revenues and profits on a more immediate scale. Both players are intimately intertwined and dependent on each other for success. Unfortunately, there is often a gap — in terms of perspective and knowledge — between the two.
Spend this session with experienced asset management executives who will provide you with valuable insights to increase your “asset management acumen” when it comes to the business of hotels.
Do you have a question you’d like to ask anonymously? Email it to the moderator by June 23.
|3:15 – 4:00 pm||Digital Macro Trends in Travel||Environmental Forces||The world of digital marketing and business intelligence continues to move quickly, and in doing so offers significant opportunities for travel companies to be more sophisticated in their marketing and measurement. Simultaneously, it offers opportunities to simplify and prioritize the metrics that matter. This session will highlight the top-level trends that are driving these changes.
Topics will include understanding demand, using first-party and third-party data to drive efficient performance, the maturation of online brand building, the rise of machine learning, and progression in the data infrastructure that allows you to understand and measure all this. This session is appropriate for leaders who are directly and indirectly involved in your company's tech projects, and you don't need to be a pro to join!
This session will define, for travel leaders, the major shifts that are taking place across marketing and measurement, prepare you to assess the effort required to "up-skill" your teams, and give you ideas for building a business case to allocate resources against new opportunities.
|4:15 – 5:00 pm||Performance Measures: Think Different||Data & Analytics||From driving channel optimization and total revenue management to planning, budgeting, and gauging return on marketing efforts, metrics produce advantages for hotels that use the right ones in the right ways.
NRevPAR…RevPAC…ConPAST…RevPATH…RevPASH. Along with the traditional RevPARs of the world, these and other emerging measures of hotel, restaurant, and spa performance present opportunities and barriers to many revenue management professionals.
This session will help you think critically — and differently — about the measures you are using today, as well as new ones you’re considering, to get the most from them for your team and your stakeholders.
|4:15 – 5:00 pm||Brain Date Roundtables||Leadership & Influence||Brain Dates are led and moderated by one of your industry colleagues, but the focus is on accessing “the talent in the room.” The interactive format will allow for open dialogue on issues and the sharing of real experiences and insights. Come prepared to participate and share your thoughts and experiences. The goal is for you to leave this session with new knowledge that you can use immediately to impact your business. Specific topics will be announced in advance.
Moderated by Bob Gilbert, President & CEO, HSMAI
|4:15 – 5:00 pm||What Every Revenue Manager Needs to Know About Digital Marketing||Environmental Forces||Revenue managers are expected to wear a lot of hats — forecaster, analyst, strategist, system designer, talent manager, data miner, sales support, and channel manager. Driven by increased focus on the rising costs of customer acquisition and pressures to drive direct bookings, the newest addition to this list is Marketing Guru.
Every revenue management professional must stay on top of the terminology, tools, and techniques that they can employ to create smart, comprehensive, innovative revenue strategies that maximize profitability more effectively and more efficiently.
You’ll leave this session better understanding the customer journey (what customers do in the digital space when planning and booking travel), why we need to invest where (it’s not all last-click…), and the costs of acquisition of the various channels in our toolkits.
Chris LaRose, Vice President eCommerce Americas, Hilton Worldwide, and member of HSMAI's Digital Marketing Council