Fuel your revenue management future with this fast-paced one-day program from HSMAI, producer of the annual industry-leading Revenue Optimization Conference (ROC). Coming to Vancouver, Las Vegas, and Dallas in October, and Miami, Boston, and Phoenix in November 2016, ROCET will deliver tactical, strategic, and leadership insights for hotel revenue managers. Recommended also for the full hotel executive team to help develop a collaborative total hotel revenue strategy.
Monday, October 24, 2016, Vancouver, British Columbia, Hyatt Regency
Wednesday, October 26, 2016, Las Vegas, Nevada, SLS
Friday, October 28, 2016, Dallas, Texas, Hilton Anatole
10:00 – 10:10 am ♦ Welcome
10:10 – 10:55 am ♦ Trends in the Market
A discussion of the economic trends that will impact hotel performance locally and beyond over the next 18 months. Our thought leaders will deliver expert insight, analysis, and practitioner-friendly perspectives on what the future may hold for the hospitality business, what the next economic game changer will likely be, and what you can do to manage it all.
10:55 – 11:40 am ♦ A Tactical Perspective: Forecast Accuracy
Bonnie Buckhiester, ISHC, President & CEO, Buckhiester Management, and member of HSMAI's Revenue Management Advisory Board
Not only is a forecast a prediction of potential and outcomes, but a valuable tool to set strategies and tactics to improve on the expected results. Forecast accuracy is the key to optimal sell strategies and now, more often than not, a revenue manager’s incentive bonus depends partly on their ability to forecast accurately. But the metrics that help the Controller or GM are surprisingly not the metrics that help the revenue manager do a better job. In this session we’ll drill down into disaggregated forecast accuracy analysis and illustrate how this valuable data can significantly improve your overall revenue management effort.
What steps can you take to positively impact results?
11:40 am – 12:40 pm ♦ Break & Lunch
12:40 – 1:30 pm ♦ Las Vegas, Dallas: Bridging the Tactical and Strategic: Pricing in a Social World: A Practical Guide for Revenue Managers
Kelly McGuire, Ph.D., Vice President, Advanced Analytics, Wyndham Destination Network, and member of HSMAI’s Revenue Management Advisory Board
By now, it’s no surprise to revenue managers that User Generated Content (UGC - ratings and reviews) plays an important role in consumer’s quality and value perceptions. Research even appears to indicate that consumers will pay more for a property with higher ratings than the competition. But what does this really mean for your pricing? How can you turn these insights into profitable pricing decisions?
In this session, we will present the results of research into the influence of UGC and price during different stages in the booking process. We will discuss the practical implications of this, and other recent research findings, to give revenue managers a definitive guide to the right actions to take to account for UGC in their pricing strategies. You’ll come away with fact-based conclusions to improve your pricing decisions, and the tools to justify your actions to senior management.
1:30 – 2:30 pm ♦ A Strategic Perspective: Total Revenue Management
Managing room inventory and pricing is still the primary role for revenue management practitioners but by analyzing total profit contributions across multiple revenues streams, revenue management professionals can move property performance to the next level.
In this session, you’ll learn best practices in transcending traditional boundaries for the revenue management role and leave with 5 realistic next steps to implement these strategies in your property.
2:30 – 2:45 pm ♦ Connection Break
2:45 – 3:45 pm ♦ A Leadership Perspective: Data Visualization -- Telling Your Story for Maximum Impact
Bonnie Buckhiester and STR
Successful leadership in revenue management requires you to break down metrics into clear messages in order to persuade your audience of the value of the data you control – whether that audience is sales and marketing, operations, asset management and ownership, or customers.
This session will help you make your data more understandable and relatable to other parts of your business, creating a bridge between the data and those who need to learn something from it, or make decisions based on it. Give your stakeholders tailored insights they need to act faster and for better results – getting the right data to the right audience in the right way so that they can make it actionable and effective.
3:45 pm - 4:00 pm ♦ Closing & Wrap Up
4:00 pm - 5:00 pm ♦ Connection Reception
- HSMAI Hotel Members: early $295, late $355
- HSMAI Partner Members; early $395, late $455
- Non-members Hotels: early $460, late $520 - Includes 1 year of HSMAI membership! (Some restrictions apply)
- Non-members Partners: early $560, late $620 - Includes 1 year of HSMAI membership! (Some restrictions apply)
Bonnie Buckhiester, ISHC
President & CEO, Buckhiester Management Limited
Bonnie’s career in travel, tourism, and hospitality is extensive and multi-dimensional including positions as Senior Vice President, Operations for a major North American hotel REIT, General Manager for two 4½-diamond hotels, and General Manager Operations for a major tour operator. Her diverse product knowledge of hotel, tour, cruise, air, rail and car rental inventories offers a unique cross-fertilization of industry strategies.
She holds a bachelor’s degree from the University of Illinois, a Certificate in Revenue Management from Cornell University, and a Certification from Guelph University’s Hospitality Managers Development Course. She’s the former chairperson, and a mulit-year board member, of the International Society of Hospitality Consultants and remains an active member of this prestigious organization. She is also a member of the HSMAI Americas Revenue Management Advisory Board. Bonnie is a sought after speaker internationally, an accomplished author of numerous industry articles, and a regular columnist for HotelNewsNow.
Chris Crenshaw, CRME
Vice President, Strategic Development, STR
Chris Crenshaw is the Vice President of Strategic Development for STR. He works with STR's global development team on new product development and strategic integration. Chris serves on the America’s Board for HSMAI and is a Certified Revenue Management Executive (CRME).
He brings a wealth of knowledge to the table with over fifteen years of revenue related hospitality experience. Mr. Crenshaw’s extensive wisdom of the industry is put to good use as he is often used as a sounding board for new ideas and provides training and education to the staff.
Loren Gray, CHDM
Loren Gray, CHDM, Founder, Hospitality Digital Marketing
Loren Gray is an internationally recognized authority in the field of hospitality marketing and has appeared as an expert yearly at numerous national industry conferences spanning the hospitality and digital marketing industries. Gray has spoken on the topic at industry events across the US, in Canada, the Caribbean, and Australia. He has contributed to publications such as the New York Times, USA Today, Financial Times and the Wall Street Journal, and has had articles published in numerous trade journals. In addition to participating and chairing on numerous industry boards and organizations, Gray is a past chair of the Digital Marketing council of the Hospitality Sales and Marketing Association International (HSMAI). HSMAI recognized Gray as one of The ‘Top 25 Extraordinary Minds in Sales and Marketing’, and he currently serves on the Board of America’s for HSMAI’s International Organization.
Vice President, Advanced Analytics, Wyndham Destination Network
Kelly McGuire is Vice President, Advanced Analytics for Wyndham Destination Network, where she leads a team of data scientists and developers that build custom analytical solutions for WDN’s vacation rental and time share exchange lines of business. Prior to joining Wyndham, she lead the Hospitality and Travel Global Practice for SAS. In this role, she was responsible for driving the offering set and setting strategic direction for the practice. Kelly is an analytics evangelist, passionate about the value that data analytics and fact- based decisions can bring to a hospitality organization. She has a BS from Georgetown University and a MMH and PhD in Revenue Management from the Cornell School of Hotel Administration. She is the author of two books about analytics in hospitality “Hotel Pricing in a Social World: Driving value in the digital economy” and “The Analytic Hospitality Executive: Implementing data analytics in hotels and casinos.”