Editorial Board   

Mr. Paton

Mike Paton

Senior Vice President, Signature Worldwide

As senior vice president of sales for Signature Worldwide, Mike Paton develops, manages and directs all company sales within the hospitality industry. Paton is responsible for coordinating sales efforts for 5,000 customers worldwide, including licensees in Brazil, Belize, Costa Rica, Cypress, El Salvador, Greece, Guatemala, Honduras, Mexico, Nicaragua, and Panama. Prior to joining Signature in 2003, Paton managed sales and marketing for Corporate One, a financial institution providing investment solutions and correspondent services to credit unions. As a member of the company's senior management team, Paton doubled its customer relationships, increased assets under management by more than 100 percent and expanded the company presence from six to 23 states. He also served as senior vice president of sales and marketing for PurchasingFirst.com, Inc., a professional and technical e-commerce consulting company. While there, Paton was responsible for designing and implementing sales strategies for the company's customized purchasing tools and national e-commerce marketplaces. Paton also has served in executive roles at the Huntington National Bank and Star Bank, where he built and maintained relationships with hundreds of business owners and entrepreneurs. Paton is a national champion public speaker and holds a bachelor's degree in English literature from The Ohio State University. Signature Worldwide is the leading solutions provider to service-based organizations, creating tailored programs that directly impact the bottom line. Established in 1986 and headquartered in Columbus, Ohio, Signature operates throughout North America and has licensees in South America and Europe. Signature is a private company, with revenues $12 million in 2004.

Mr. Paton can be contacted at 800-398-0518 or mikepaton@signatureworldwide.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.