Editorial Board   Guest Author

Mr. Wilhelmsen

Kevin Wilhelmsen

Dean, University of Phoenix School of Business

Kevin Wilhelmsen is the program dean and faculty member for University of Phoenix School of Business. In this role, he is responsible for the development of industry-aligned curriculum, assessment of student learning outcomes, faculty scholarship and academic policy development. He regularly engages industry associations and employers to inform the University's curriculum and chairs the Business and Industry Relations Committee for the Accreditation Council for Business Schools and Programs, a global business accreditation association. Mr. Wilhelmsen leads the development of a portfolio of academic programs in industries including hospitality, retail and financial services. He recently worked with the American Hotel & Lodging Educational Institute to develop an industry-aligned associate degree and certificate program in Hospitality Fundamentals. Mr. Wilhelmsen holds a Master of Business Administration from University of Phoenix and a Bachelor of Science in Business Administration from the University of Arizona. He regularly authors research articles for the Accreditation Council for Business Schools and Programs (ACBSP) and is a site team evaluator for the organization.

Mr. Wilhelmsen can be contacted at 602-557-1262 or Kevin.Wilhelmsen@phoenix.edu

Coming up in October 2020...

Revenue Management: Maximizing Profit

Hotel Revenue Management continues to evolve at a blistering pace. Driven by technological innovation and new distribution channels, there are some dynamic opportunities for expansion in this fast-growing field. The technology is primarily designed to help revenue managers further refine their operations and pricing models to maximize hotel profit. For example, hotels can't be all things to all people, so a key strategy is to precisely identify their target audience. By employing geo-targeting techniques and analyzing behavior such as previous bookings, on-property purchases and online shopping practices, there is an increased capability to define guest demographics. By segmenting customers in more specific ways, hotels are able to create more personalized experiences which, in turn, allow managers to optimize their room rates. It is also an effective way to fulfill the unique needs and preferences of the individual. Another methodology is to consistently monitor the competition's pricing strategies. There are software tools that analyze a competitor's current rates, and then allow a hotel to make its own pricing adjustments. It is also a useful means to conduct forecasting models. Other technologies that are being integrated into a revenue manager's toolkit include Artificial Intelligence in the form of automated algorithms, and Voice Recognition (VR) for data inquiries, rate changes, and booking behavior. Predictive and analytic software programs are also being leveraged to provide more forward-looking data, instead of the usual reliance on historical performance. These metrics allow managers to be more proactive - rather than reactive - with their revenue strategy. The October issue of the Hotel Business Review will examine these developments and report on how some leading hotels are executing their revenue management strategies.