Editorial Board   Guest Author

Mr. Mandigo

Theodore Mandigo

Professor, Kendall Coillege

Ted Mandigo has spent nearly 40 years providing consulting services to the hotel industry. He has provided the market studies used in financing the Ritz-Carlton; the Fairmont; the Swissotel; Embassy Suites; Fairfield Inn; Wit Hotel; and the Hampton Inn. Consulting service engagement include the Drake; the Whitehall; Hyatt Regency; W City Center; Sofitel; Intercontinental; Westin River North; and the Renaissance. He has also conducted studies for the Club industry including in Chicago the Union League Club; University Club; Chicago Club; The Casino and several city and country clubs around the country. Ted received his undergraduate degree from Cornell University School of Hotel Administration and his MBA from Loyola University of Chicago. He is a charter member and founder of the International Society of Hospitality Consultants and a CPA. Ted Mandigo was the President/Chairman of the Illinois CPA Society and served on the national council for the AICPA. He was chairman of the Finance Committee for Lutheran Social Services of Illinois; chairman of the Food Service Committee for the Ravinia Festival; co-chair of the allied member committee of the Illinois Hotel and Lodging Association. Work experience includes Partnerships at Pannell Kerr Forster and BDO Seidman accounting firms; Director at Landauer; and as President of his own consulting firm, TR Mandigo & Co. which was founded in 1995. Mr. Mandigo is a frequent guest speaker for various hospitality organizations including preparing and presenting an annual forecast for the Chicago Downtown Hotel Managers; the O'Hare Hotel Managers; the DuPage County CVB; the Midwest Lodging Conference; and the Phoenix Lodging Conference. Ted is also a full time faculty member at Kendall College where he teaches Hospitality Law; Feasibility Studies; Revenue Management; Labor Relations; Quality Service; Management Strategy; and Real Estate Finance.

Mr. Mandigo can be contacted at theodore.mandigo@kendall.edu

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.