Editorial Board   

Mr. Poad

Jim Poad

Director of Client Solutions, Advantage IQ

Jim Poad, a 30-year energy industry veteran, serves as Director of Client Solutions for expense and energy management firm, Advantage IQ. In this capacity, Mr. Poad is responsible for developing and directing the Company's energy management programs on behalf of clients. He works with clients to develop and implement a customized strategy to better manage energy usage, reduce overall operational costs, and meet overriding corporate objectives. He has helped clients save millions of dollars through the implementation of supply-side and demand-side initiatives. Prior to his position at Advantage IQ, Poad served as Director, Business Development for Johnson Controls, Inc, Prenova, and also served as Director, Strategic Business Development for TXU Energy. At TXU, he first served as Regional Marketing Director for the Chicago region. In this role he was responsible for project evaluation, commodity sales and delivery for both electric power and natural gas, as well as facility sales. Later, he was appointed Director of Strategic Business Development, a role which required identifying and developing comprehensive energy management and outsourcing engagements for Fortune 500 companies with extensive energy requirements. Earlier, Poad held a number of positions with Wisconsin Power and Light Company and Alliant Energy. He worked in operations, administration, and sales management with these companies, and received several awards for operational excellence, marketing success and exceptional safety records.

Mr. Poad can be contacted at 608-755-1650 or jpoad@advantageiq.com.

Coming up in October 2019...

Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.