Editorial Board   Guest Author

Mr. Bolf

Brian Bolf

VP of Revenue and Profit Optimization, Kokua Hospitality

As vice president of revenue and profit optimization, Brian Bolf is responsible for revenue management and e-Commerce at Kokua Hospitality. Mr. Bolf is a collaborative, trusted leader who is valued for his holistic and transparent approach to assisting properties reach their optimal performance levels. He works closely with the hotel executive teams, asset management groups, and owners to properly align customized efforts to reach a unified goal at each property. Through his twenty-five plus years of experience in the industry across a multitude of independent and branded hotels, he has specialized in process improvement and utilizing data analytics to creatively develop profit opportunities for the portfolio. Leading the charge of Kokua's recently developed revenue management platform, Mr. Bolf is focused on maintaining a true advantage above the competition. He employs a strategic approach to understanding market trends and customer behavior that is both progressive and insightful. Before joining Kokua Hospitality in 2007, Mr. Bolf worked with numerous hotel brands that included Hard Rock Hotels, Omni Hotels, Hilton Hotels Worldwide, and Preferred Hotels & Resorts. Prior to turning his focus to hotel revenue management, Mr. Bolf worked at Solo Cup Company as a senior global accountant, responsible for the financial reporting of six foreign entities, totaling to two billion in annual revenues. Mr. Bolf graduated from Loyola University Chicago with a bachelor of science degree in psychology and finance and holds an A.A.S. degree in marketing.

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

Mr. Bolf can be contacted at 312-644-4800 or brian.bolf@kokuahospitality.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.