Editorial Board   

Ms. Olsen

Casey Olsen

Owner, Spa Sources

Spa Sources of Palm Desert California is considered to be the premier health spa consulting firm with over 20 years of Designing, Managing, Equipping, Operating and Marketing spas. Spa Sources owner, Casey Olsen, managed the luxury properties of La Costa Resort and Spa in San Diego, Givenchy, one of the designer spas, the Spa Hotel in Palm Springs and was the National Spa and Marketing Director for the billion dollar company, Sporting Clubs of America. Ms. Olsen has managed staffs of over 140 and pampered movie-industry elite and captains of industry from around the world. While working within the Spa realm, Ms. Olsen provided the owners of these luxury properties a departmental profit ratio of over 50 percent, which is unprecedented in the industry. As one of the industry's foremost health spa consultants, Ms. Olsen provides invaluable guidance to developers planning their luxury resorts that include a health spa facility.

Ms. Olsen can be contacted at 760-341-3311 or spasources@earthlink.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.