Editorial Board   

Mr. West

Paul West

Principal & CEO , priZem Hospitality Solutions

Paul West's career consists of more than 25 years of versatile hospitality experience. His multi-faceted technology exposure draws from a variety of positions ranging from Principal and CEO for the current software company priZem Hospitality Solutions, to Vice President of Technology for several hotel chains at the corporate level and IT Director for several hotels at the single property level. Past management and technology positions have been with Nikko Hotels International, The St. Regis New York, Hotels of Distinction, Swissotels, Sheraton Hotels and The Rainbow Room in New York City. Technology consultancy work has been within a number of environments ranging from domestic to international Ritz Carlton properties to variety of independent, luxury, conference and convention hotels. Mr. West has extensive experience implementing technologies and related operational processes in ground up installations as well as within operating properties transitioning from older technologies to more advanced systems. His comprehensive organizational and project management skills have been repeatedly sharpened over the years by assuming IT cleanup roles and turning around stagnant operation with promising results. priZem Hospitality Solutions is a provider of hospitality corporate and property financial solutions that cost effectively reduce the budget/forecast preparation cycle; facilitate the daily labor/revenue preparation and reporting process; increase overall operational data accuracy and allow for faster corporate and departmental report distribution. More information can be found at www.prizem.com.

Mr. West can be contacted at 646-213-0067 or pwest@prizem.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.