Editorial Board   

Mr. Spelts

Larry Spelts

Director of Asset Management, Charlestowne Hotels

Larry Spelts, Director of Asset Management for Charlestowne Hotels, has spent his 25 year career focused in the independent boutique hotel and inn segment of the hospitality industry. He is a past president of the Charleston, SC Hotel & Motel Association and a former Charleston Travel Council Governor. Mr. Spelts began his career in the hospitality industry while attending the College of Charleston (SC) in the 1980's working in various positions from bellman to concierge. He took his first management position in 1990 at the 43 room Kings Courtyard Inn of Charming Inns of Charleston, with whom he went on to open new properties in 1992 and 1994 - all boutique, Four Diamond rated properties. In November 1994, Mr. Spelts accepted the general manager position at the 64 room Planters Inn of Charleston, SC. Mr. Spelts led redevelopment of the property and repositioned it as Charleston's first Relais & Châteaux. Ten years later he took a position with the world-renowned Carlyle Hotel in New York City, where he oversaw various renovation projects and served as the hotel manager. While in New York, Mr. Spelts earned an MBA from New York University's Stern School of Business while working as an independent consultant that included engagements with a variety of boutique and lifestyle businesses from the Hotel Roger Williams to the Core Club and David Barton Gyms. Mr. Spelts joined Charlestowne Hotels in September of 2009.

Mr. Spelts can be contacted at 843-972-1428 or lspelts@charlestownehotels.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.