Editorial Board   Guest Author

Mr. Chopra

Bhanu Chopra

CEO, RateGain

Bhanu Chopra, aged 40, is an India-based young and dynamic entrepreneur, currently the CEO of RateGain, an IT solutions, a company he founded in 2004. Mr. Chopra has a masters degree from Indiana University Bloomington, USA in Finance and Computer Science.

Mr. Chopra started his career at Deloitte Consulting serving several Fortune 500 companies in Chicago. He is currently the CEO of RateGain, a company he founded in 2004. Prior to setting up RateGain, he co-founded Riv Consulting. He started RateGain in response to the increasing popularity of Online travel agencies (OTAs) like Expedia and Orbitz in the west, when he identified the business need of these OTAs to compare rates across their competitor websites.

Mr. Chopra has been profiled on the Young Turks program of CNBC-TV18 and was shortlisted as a finalist for the "Red Herring 100 Asia" Awards 2008 and again recognized as a great entrepreneur for his active participation & involvement as a part of "iSpirit's" Podcast series where he shared his views on transforming India into a hub for new generation software products.

Mr. Chopra is a sought after speaker in the travel and hospitality technology space. He has been speaker/ panelist at various HSMAI events, Hotel technology Conference, China Low Cost Airline Summit, Independent Hotel Show etc. He is also a contributor to publications like 'Entrepreneur' and 'The Economic Times'.

Mr. Chopra is a visionary, achiever and a great leader. With his great passion and remarkable dynamism, he has taken RateGain to great heights. Today he guides the development of RateGain's service offerings and delivery methodologies.

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

Mr. Chopra can be contacted at +91 956-083-3220 or bchopra@rategain.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.