Editorial Board   

Mr. Bernstein

Laurence Bernstein

Managing Partner, Protean Strategies

During a highly successful 20 year career, Laurence Bernstein launched and nurtured numerous global hospitality, foodservice and financial service brands, on behalf of global advertising and brand marketing firms.

Prior to working in advertising, Mr. Bernstein cut his teeth in sales and marketing with Westin Hotels. In 1998, in response to the rapidly changing marketing environment, he founded the boutique strategy and research agency that he now runs, Protean Strategies.

From its inception, the firm has led the way in experiential branding -- converting attributes, features and benefits into relevant and differentiating experiences that form the underpinning of real brand-centric growth. This led to the seminal idea of "modern luxury", first posited in a 1999 white paper published in the Cornell Quarterly, which now underpins the entire boutique category.

In 2012 Mr. Bernstein started Protean Hospitality Partnerships, a marketing advisory consultancy focusing on the hotel and resort business. Recently, the firm published a widely quoted study of how consumers engage on an emotional level with hotel brands.

In the consumer research field, Mr. Bernstein developed the first psychoanalytic approach to market research, Inner Directives Archetype Studies, that has been used by more than 20 automotive brands to understand the underlying relationships between people and their vehicles. Inner directives has also been used by hotel companies and travel organizations to better understand and cater to their guests and visitors.

The Protean Guest Experience Audit system is an inexpensive methodology to help hotels understand what guests actually experience at the property level, using an interactive, real time methodology. In addition, Protean is recognized by Forrester Research as a leader in the exciting new field of Predictive Market based consumer research.

Mr. Bernstein attended the University of the Witwatersrand in Johannesburg and Cornell University School of Hotel Administration. He has published numerous articles on hospitality brand and guest experience design and has been invited to lecture at Cornell University, University of Toronto, and many associations including the inaugural Leadership Seminar presented by the Boutique and Lifestyle Hotel Association.

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

Mr. Bernstein can be contacted at +1 4169673337101 or bernstein@proteanstrategies.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.