Editorial Board   Guest Author

Mr. Renard

Stephen J. Renard

President, Renard International Hospitality Search Consultants

Stephen J. Renard was born in Toronto and attended the University of St. Michael's College in the University of Toronto graduating in 1970 with a Business Degree. For the past 45 years, he has been the founder and President of Renard International Hospitality Search Consultants, which is the Leading Executive Recruitment Firm serving the Hospitality Industry worldwide.

This year Renard International celebrates its 45th anniversary and in 2014, we completed management searches in over 30 countries internationally. Just as recent as in December 2014, Mr. Renard completed the most challenging placements in Mongolia and Nepal and is proud to say that, "we have now placed at least one individual in every country in the world"! This is unique since many of the countries that he has done business with, did not exist when Renard International first opened for business in 1970.

Every year, Mr. Renard travels to over 30 countries meeting with clients and candidate's everywhere. Not to mention the importance of staying well-informed on current trends and practices. He is a hospitality specialist who is recognized as the benchmark of recruitment companies.

Please visit http://www.renardinternational.com for more information.

Mr. Renard can be contacted at +1 4163648325228 or steve@renardinternational.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.