Editorial Board   Guest Author

Mr. Scovell

T. Dupree Scovell

Managing Partner & Chief Investment Officer, Woodbine Development Corporation

T. Dupree Scovell is the managing partner and chief investment officer at Woodbine Development Corporation, a full-service real estate company that specializes in hospitality and recently launched the Woodbine Legacy Investments fund. Mr. Scovell got his start in the hotel business at the age of 16, working as a dishwasher at Hyatt Regency Dallas. He joined Woodbine in 2011 to lead the company's West Coast operations. Based out of the Los Angeles office, he is responsible for Woodbine's acquisition platform and capital markets efforts as well as managing the Woodbine Hospitality Development and Investment fund, a private equity entity dedicated to the acquisition and development of upscale select-service hotels and lifestyle destinations throughout the United States. Prior to joining Woodbine, Mr. Scovell spent five years working for Trammell Crow Company in Dallas, where he focused on retail and mixed-use development projects. He was named by the National Real Estate Forum as one of “Tomorrow's Newsmakers” and by the Dallas Business Journal “40 Under 40,” which spotlights local executives for their professional and civic contributions to the local community. Early in his career, he was recognized by Dallas CEO magazine as one of the “Top 30 Real Estate Professionals Under 30.” Mr. Scovell graduated with four undergraduate bachelor degrees from Texas Tech University and earned with two masters degrees from Stanford, including a M.Ed. from the Stanford Graduate School of Education and an MBA from the Stanford Graduate School of Business. Beyond real estate and hospitality, his passions include supporting public education and providing opportunities for underprivileged high school graduates to attend college through the Scovell Scholarship Foundation.

Please visit http://www.woodbinedevelopment.com for more information.

Mr. Scovell can be contacted at 214-855-6000 or dscovell@woodbinedevelopment.com

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.