Editorial Board   

Mr. Tatum

Tyler Tatum

Marketing Strategy Consultant,

Tyler Tatum is driven to help clients maximize their potential with the best marketing strategy at the least overall cost. In his past venture as General Manager of Project Planet, Mr. Tatum had the opportunity to pursue a passion for the environment, while driving the company to be a dominant force in the hotel industry. The focus was saving his clients tens of millions of dollars in operational cost, while reducing their overall environmental impact by hundreds of millions of gallons of water. In order to maximize participation in the program, Mr. Tatum had to create excitement among hotel staff and guests while maintaining the best overall guest experience. During his tenure with Project Planet, Mr. Tatum increased participation in the program by over fifty percent. He also launched three new regional designs, which lead to stronger market penetration in coastal and mountainous areas. In a joint effort he worked with the Southwest Florida Water Management District to promote the program to over 200 hotels.

Mr. Tatum can be contacted at 404-783-0923 or TylerTatum@Bellsouth.net

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.