Editorial Board   Guest Author

Mr. Tsabourakis

Nicholas Tsabourakis

Founder & Managing Director, Bespoke Revenue Management

Nicholas Tsabourakis is founder and Managing Director at Bespoke Revenue Management. With over 10 years of diverse hospitality roles covering all commercial aspects, Mr. Tsabourakis founded Bespoke RM with the aim to provide a tailored solution to revenue management challenges, and help hotels to streamline their operations for maximum impact on their revenue.

Bespoke RM takes a holistic approach, and is able to guide towards the creation of a total revenue management culture in any hospitality organization. Mr. Tsabourakis is an expert in Total Revenue Management with a passion in E-commerce, technology and more importantly in building commercially driven organizations.

Mr. Tsabourakis started his career with Hilton in one of their busiest properties where he had the opportunity to enhance the way pricing was implemented, despite operating in the most dynamic market in Europe (Heathrow Airport, London), and led the process of successfully shifting Business Mix towards the right direction. Following his role with Hilton he joined Park Plaza where he extended his Revenue management reach beyond rooms and laid down the foundations for achieving a Total Revenue Management culture. Operating through the financial crisis of 2008 was a big challenge but hard work and forward thinking led to being one of the few hotels in London that saw an increase in a highly pressurized and declining market.

After that, Mr. Tsabourakis took a bold but confident step away from the operator side of the industry and into Asset Management where he worked with a portfolio of 60 hotels with the aim to develop the procedures and mechanisms needed to identify new commercial opportunities, provide commercial analysis, drive profitability, increase top line results and returns to the Owners.

In his last role with the Ascott Ltd. he was the driving force and orchestrated the creation of a Revenue management organization while he was responsible for providing strategic oversight and development of commercial strategies, working with a diverse portfolio of properties.

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

Mr. Tsabourakis can be contacted at +66 442070971615 or nicholas@bespokerm.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.