Editorial Board   

Mr. Kremp

Paul R. Kremp

General Manager, Rochester Plaza Hotel & Conference Center

A 35-year hotel veteran, Paul Kremp started his career in the hospitality industry in high school working summers at Walt Disney World. He worked in various hourly and management positions until 1981. After college Mr. Kremp went on to serve in management positions for Hospitality Management Corporation in Dallas, TX, Radisson Hotels Worldwide in Minneapolis, MN, Danela Hotels in Philadelphia PA, Hudson Hotels Corporation in Rochester, NY, GF Hotels in Philadelphia, PA, and Summit Hospitality, Inc. in Rochester, NY. While at Radisson Mr. Kremp worked at several hotels throughout the United States, including as General Manager of the Radisson Hotel Harbour View Hotel in San Diego, CA. Mr. Kremp has worked in both hotel management, franchise and owner operator capacity throughout his career at brands including Radisson, Ramada, Marriott, Red Roof Inn, Microtel, Crowne Plaza, Holiday Inn, Hampton Inn, and for independent hotels. He is currently General Manager of the Rochester Plaza Hotel & Conference Center, one of the largest hotels in downtown Rochester, New York. The hotel, which is owned by Summit Hospitality, Inc of New York, has 362 rooms and suites, several restaurants and extensive meeting services and banquet space.

Mr. Kremp can be contacted at 585-324-0032 or pkremp@rochesterplaza.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.