Editorial Board   

Ms. Knutson

Bonnie Knutson

Professor, The School of Hospitality Business/MSU

Bonnie J. Knutson is a professor in The School of Hospitality Business in the Broad College of Business at Michigan State University. Widely known as an authority on emerging lifestyle trends and innovative marketing strategies, she often consults with business leaders who want to understand and take advantage of changing consumer demands.

Dr. Knutson's work has been featured in publications such as The Wall Street Journal, USA Today, and on PBS and CNN. She has also had numerous articles appear in industry, business, and academic publications. With her wit and entertaining style, Dr. Knutson is a frequent speaker for executive education as well as business and industry meetings, workshops, and seminars.

She has been a featured presenter for the National Restaurant Association, the American Hotel & Motel Association, Meeting Professionals International, Club Managers Association of America, National Automated Merchandising Association, US Air Force, American Marketing Association, as well as financial, health care, automotive, and education organizations throughout the United States and abroad.

Dr. Knutson is also editor of the prestigious Journal of Hospitality & Leisure Marketing. Dr. Knutson has been awarded the Withrow Award for outstanding teaching and research as well as the prestigious Golden Key Teaching Excellence Award for continued outstanding instruction and dedication to students. She has also been named an Advertising Education Foundation Teacher-Scholar.

Dr. Knutson is currently on the Advisory Council of the Wharton Center for the Performing Arts, the Travel, Tourism and Recreation Resource Center, the National Michigan State University Alumni Association, and Curveware.

Ms. Knutson can be contacted at 517-353-9211 or drbonnie@msu.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.