Editorial Board   Guest Author

Ms. Berry

Joy Berry

Co-Founder, The Camp at Carmel Valley

Joy Berry has a broad range of experience in the hospitality industry, including operations, buying, selling, and developing hotels, resorts, spas, residential, fractional units, and casinos.

Ms. Berry has owned and operated her own hotels, bought and sold hotels for corporations, negotiated management and franchise hotel agreements, developed a significant portfolio of hotels for Marriott International, and created an award-winning hotel brand and management company.

Most recently Ms. Berry served as the Founder and President of a new hotel platform and brand called Travaasa. The platform was a roll-up of existing resorts; buying six-star, inspirational, irreplaceable pieces of real estate, maintaining four-star bricks and mortar assets, offering six-star memorable experiences, to capture five-star pricing. The operational credo was "experience is the new luxury."

Ms. Berry built a hotel management company from scratch with expertise in operations, marketing, branding, revenue management, and financial reporting. Her creative, yet financial acumen, led to a brand catering to a strong demand of hotel guests yearning for something new, and provided hotel investors an under-supplied asset. Annual revenues of these resorts grew by 50 percent per year under her leadership.

Previously, Ms. Berry was Senior Vice President of Marriott International and headed up Marriott's real estate development division to deploy their capital in strategic markets in the Western US. She created a team that built 40 ground-up hotels for Marriott's corporate portfolio deploying $650 million in equity. In addition to ground-up deals, she negotiated franchise and management contracts producing fee income value. Together, over a period of 12 years, she was responsible for creating 170 new Marriott hotels and several Ritz Carlton mixed-use resorts, including residential units (both fee and fractional), spas, and hotels for Ritz Carlton.

Ms. Berry also has experience in the gaming industry, having won the first casino license in the state of Indiana and developed a riverboat casino operation resulting in a first year EBITDA of $40 million for a project development of $110 million. She has worked in many of the gaming jurisdictions to acquire and develop or reposition casinos for national gaming companies.

Ms. Berry's in depth knowledge of hospitality real estate (resorts, urban/suburban hotels, spas, residential, fractional, and gaming) combined with her operational and branding experience creates a unique perspective to assist other owners and operators to maximize their returns while creating high satisfactory guest touch points for an award-winning asset.

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

Linkedin Profile: https://www.linkedin.com/in/joy-berry-23a1b966/

Ms. Berry can be contacted at +1 949-500-7009 or joy@joyberry.org

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.