Editorial Board   

Mr. Stacy

Mike Stacy

Chief Executive Officer, Groople.com

Mike Stacy has been the Chief Executive Officer of Groople.com, the leading group travel booking website since November 2005. Mr. Stacy brings 15 years of experience to Groople, including successfully building and growing some of the top online travel brands. Prior to joining Groople in November 2005, Mr. Stacy was president of Cheaptickets.com, a leading online travel website owned by Cendant. While at Cheaptickets, Mr. Stacy developed a new organization and improved the technology and customer experience, leading to historically high conversion rates. He effectively cut costs and launched a new marketing campaign, bringing Cheaptickets to profitability for the first time, earning the website the accolade of "Fastest growing online travel site" in 2004. Based in Denver Colorado, he holds a bachelor's degree from St. John's University and an M.B.A. from Pepperdine University.

Mr. Stacy can be contacted at 303-483-9006 or mikestacy@groople.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.