Editorial Board   Guest Author

Mr. Watson

Scott Watson

Chief Sales & Marketing Officer, M3 Accounting + Analytics

Scott Watson graduated from the University of Arkansas and has since built a direct sales, sales management, and sales and marketing career that has spanned three decades focused specifically in the financial software and technology industries.

Mr. Watson finds tremendous value in matching the needs of hoteliers to the solutions and resources provided by M3. This approach allows M3 to help their customers succeed by driving financial performance, visibility and transparency.

Mr. Watson leads M3's sales and marketing teams in an effort to achieve short-term objectives and increase awareness of the M3 brand, while working as a member of the executive team to help develop long-term strategies that will ensure M3's continued growth and expansion as a global company. Since joining the company, M3 has realized consistent record growth and the customer base has grown by almost 100%.

As Executive Vice President Sales and Marketing for M3, Mr. Watson has been happy to accept invitations to participate as a panelist at The Americas Lodging Investors Summit (ALIS), to speak on the value of hosted technology solutions at HITEC (The Hospitality Industry Technology Exhibition and Conference) and to sit on the Advisory Board for Missouri State University's College of Hospitality Leadership.

Mr. Watson is currently spending time in the U.K. in preparing M3 for their global launch. Mr. Watson's time at the University of Arkansas coincided with the last two years of Lou Holtz's tenure as Head Football Coach. One of Mr. Watson's favorite quotes comes from Coach Holtz. "Ability is what you're capable of. Motivation determines what you do with those abilities. Attitude determines how well you do it."

Please visit http://www.m3as.com for more information.

Linkedin Profile: https://www.linkedin.com/in/1scottwatson/

Mr. Watson can be contacted at +1 770-531-3730 or Scott@m3as.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.