Editorial Board   

Mr. Acosta

Jose Acosta

COO, priZem Hospitality Solutions

Jose Acosta's career includes more than 20 years of hands-on hospitality industry experience encompassing operations, finance, accounting, asset management and investment at both the property level and the corporate level. Mr. Acosta has significant experience with opening new hotels, transitioning hotel ownership, renovations and stabilized hotels on behalf of owners, investors and management companies. He has advised condominium developers on preparing construction budgets, condominium association, supervised residential accounting and managed several development projects. Mr. Acosta has served as Chief Operating Officer of Prizem International, Corporate Controller for Tishman Hotel Corporation, Corporate Director of Finance for KSL Recreation Corporation and Regional Corporate Controller for GF Management in addition to 10 years of experience with the Ritz-Carlton Hotel Company as a financial controller. He holds a BS from New York University.

Mr. Acosta can be contacted at 646-213-0067 or jacosta@prizem.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.