Editorial Board   Guest Author

Mr. Engel

Tom Engel

Principal, T.R. ENGEL Group

Hospitality industry leader with 30+ years of expertise, Tom Engel is credited with being instrumental in creating three (3) global lodging brands—Embassy Suites Hotels, Crowne Plaza Hotels and Resorts, and Hawthorn Suites by Wyndham. Mr. Engel is president and founder of the T.R. ENGEL Group, LLC (TRE), a Boston-based hospitality advisor and operational asset management firm operating on a global basis. TRE's core business discipline revolves around advising institutional investors—pension funds, real estate investment managers, and high net worth family offices—investing in hotel assets in the U.S., Europe, and the Middle East. TRE typically then oversees the entirety of the investment in the role of hotel asset manager working on behalf of the investor.

Previously Mr. Engel was Executive Vice President, Equitable/AXA Real Estate Investment Management Inc., where he created, then ran its worldwide lodging and leisure investment management group. Mr. Engel's group was a full-service hospitality resource, providing both hotel debt and equity investments, conducting project management and through its asset management team was responsible for the oversight of a $2 billion portfolio of 62 hotels and resorts. Previously, Mr. Engel was a Group Brand Manager at Unilever, Inc. and Director of Marketing, at Revlon, Inc.

Mr. Engel has extensive experience with creation of hotel brands, operations planning, and creation of brand standards and procedures with luxury, upscale and extended?stay hotels. Mr. Engel is a director of publicly-held The Procaccianti Hotel REIT. He is an adjunct professor at Boston University and Chairman, Boston University School of Hospitality Management's Advisory Board. Graduate of the Northwestern University, University of St. Thomas. Veteran, United States Marine Corps, VMA-131 Air Wing.


Please visit https://www.trengelgroup.com for more information.

Mr. Engel can be contacted at +1 617-451-1701 or thomasengel@trengelgroup.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.