Editorial Board   

Mr. Baker

Dennis M. Baker

President and Chief Executive Officer, Avendra, LLC

Dennis M. Baker is the president and chief executive officer of Avendra, LLC, the leading independent, business-to-business procurement company serving the hospitality industry. Prior to joining Avendra, Mr. Baker was the executive vice president and general manager of The Marketplace by Marriott, a division of Marriott International responsible for developing and implementing an innovative, new strategy for consolidating and streamlining the company's procurement activities. There, Mr. Baker was responsible for the division's overall operations, including strategic direction and business planning. Mr. Baker began his career at Marriott International in 1987. He joined Marriott Distribution Services in 1991 as their business began its push towards penetrating the external chain restaurant food distribution market. This division also housed Marriott's centralized food procurement functions.

Mr. Baker can be contacted at 301-825-0500 or Dennis.baker@avendra.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.