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HSMAI staff recently spoke with Taylor Baca, Corporate Director of Revenue Management at Balboa Bay Resort & Club. Baca will receive the single/multi-unit Revenue Optimization Professional of the Year during HSMAI’s Commercial Strategy Conference in Charlotte on June 26th.
Baca is an experienced hospitality professional with a strong passion for revenue optimization. She has established a reputation for driving exceptional revenue growth and optimizing hotel performance.
Baca’s journey in revenue management began in Reservations and progressed through a Manager in Training program, affording her invaluable experience in various hotels and under expert revenue leaders. This hands-on experience cultivated a profound understanding of revenue management principles and strategies.
Taylor is an active member of the HSMAI Rising Leader Council for Revenue Optimization which has allowed her to stay at the forefront of industry trends and continuously enhance revenue management skills. Taylor is recognized by HSMAI with her CRME and CHDM.
Read on for our interview with Taylor Baca!
1. How did you get involved with HSMAI? What impact has your association with HSMAI had on your professional development?
I became involved with HSMAI through a mentor in the industry who has had a profound impact on my professional development. Seeking to expand my network and learn from professionals outside of my organization, I sought further involvement with HSMAI which led me to apply for the Rising Leader Council. I am thankful for the opportunity to be on the Rising Leader Council because it has provided me with a platform to grow my network and gain insights from a diverse community of peers and mentors. My involvement with HSMAI has truly had a significant impact on my professional development. It has helped me gain confidence as a young leader in the industry, a network of peers, insights and feedback from industry leaders, a mentor to learn from and motivation to continue to grow in the industry.
2. What is the guiding philosophy of your career thus far?
The guiding philosophy of my career has been rooted in consistently pushing myself beyond my comfort zone and seizing opportunities to grow both personally and professionally. I have been lucky enough to have opportunities to network and connect with leaders in the industry which has given me the confidence to accept opportunities such as speaking opportunities, leading point of view discussions and attending network events. Through the support of leaders and mentors I have been able to grow in my skill set and revenue discipline. I hope to be a mentor and provide the support that I have been lucky enough to receive.
3. Could you share a piece of career advice you think are important for those starting off in the industry?
One piece of advice I would offer is to embrace bravery and courage. It is important to ask for a seat at the table as a young leader. I believe that you can support this courage through seeking out educational opportunities and networking with leaders and peers in the industry. I would also encourage seeking out mentorship from a seasoned professional. I have been lucky enough to gain a mentor in the industry who has offered guidance and support while navigating my career journey. A mentorship connection can provide invaluable insights and open doors to new opportunities.
4. Where do you see the biggest opportunities for growth in revenue management?
In my view, the most significant opportunity for growth in revenue management lies within the realm of technology integration for total revenue optimization. This includes leveraging technology solutions to maximize revenue streams across food and beverage, spa, retail and more. By harnessing advanced analytics, data-driven insights and synergy across systems, revenue management professionals can gain a comprehensive understanding of all revenue streams, enabling them to implement strategic and holistic strategies across all the organization.
5. How do you foster innovation and creativity within your team?
I foster innovation and creativity within my team through constant collaboration and open communication. By facilitating regular discussions and brainstorming sessions on weekly strategy topics, I ensure that every member of our commercial team has a voice and contributes ideas. Additionally, I prioritize keeping the team up to date with industry updates and opportunities, empowering them with the latest knowledge and insights to inspire innovative thinking. I emphasize the importance of understanding the “why” behind the need for new creative offerings in our hotel, encouraging our team to think critically and strategically about how their ideas can drive value to our guest and to our organization as a whole. I strive to empower my team to explore new ideas, challenge the status quo and drive meaningful change in our organization.
6. What significance does receiving the HSMAI’s single/multi-unit Revenue Optimization Professional of the Year award hold for you?
I am beyond honored to be recognized amongst esteemed leaders whom I admire and look up to in this industry. I began my career journey 8 years ago as a Reservations agent and truly dreamed of receiving an honor like this. I am grateful to the leaders who have guided, taught and mentored me throughout my career and grateful to HSMAI for connecting me with a community and a mentor who has truly had significant impacts on my professional development. I am also thankful to have worked for my organization that has supported me through my career journey and always championed my growth. This award has fueled my passion to continue to grow and invest myself in this industry.