Editorial Board   Guest Author

Mr. Bedner

Michael Bedner

Chairman & CEO, Hirsch Bedner Associates

As Chairman and CEO of Hirsch Bedner Associates, Michael Bedner leads the largest, hospitality design firm in the world. In 1964, Mr. Bedner and his partner, Howard Hirsch, revolutionized hospitality design by creating a totally new professional discipline. Throughout his career, Mr. Bedner has expanded the discipline into a functional art form that continues to evolve. His vision and creative energy provide inspiration to the entire industry and his design influence can be seen in hundreds of the finest hotels throughout the world. Mr. Bedner's combination of traditional training and over 40 years of international hands-on experience have provided him with a singular understanding of the cultural, programmatic and financial aspects of a variety of projects. This understanding makes him uniquely qualified as a consultant for virtually every aspect of the hospitality business, from conceptual planning to budgeting and installation. Beyond directing twelve offices worldwide with a staff of over 450 professionals, Mr. Bedner has continued to create his own innovative, distinctive designs. Throughout his career, Michael Bedner has remained committed to the three principles on which he and Howard Hirsch based the business: to have fun, learn and grow from every experience and to produce the best design possible for each project.

Mr. Bedner can be contacted at 310-829-9087 or MichaelB@HBAdesign.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.