Editorial Board   

Ms. Walters

Michele Walters

Co-Founder, Origin World Labs

Michele Walters is Co-Founder and Head of Guest Behavior Analytics for Origin World Labs. Ms. Walters is an expert in the field of Consumer Behavioral Analytics for leisure industries. She has led guest behavioral research projects and departments for some of the world's leading entertainment and hospitality companies including Walt Disney, Universal Studios, and Discovery Communications. She has 16 years of experience supplying customer-centric analytic solutions and predictive models in US domestic, US Hispanic, European and Latin American/Caribbean markets. Ms. Walters holds an MBA and a Master's of Science in Marketing from University of Miami. She is responsible for driving the strategy and execution of Origin World Lab's services. Origin World Labs(OWL) creates the customized analytics models that optimize Pricing, Marketing and Operations for the best companies in Hospitality. Our team creates new value by embedding model-driven intelligence into every hotel managerial process. OWL is a lab of Mathematicians, Behavioral Scientists, Information Technology veterans and a bunch of brilliant, energetic, award-winning statisticians united by our passion for analytics. OWL runs the math that runs the best hotels in the world. Learn more by visiting the website at [www.forsmarthotels.com][1] [1]: http://www.forsmarthotels.com

Ms. Walters can be contacted at 305-303-0284 or

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.