Attend HSMAI’s ROCET (Revenue Optimization Convergence Education & Training), and you’ll take away tactical, strategic, and leadership tools to make sure your revenue team is on the same wave length.
There is no other program like this anywhere with the history of success and experience in this discipline. With a 100% NPR score from 31 cities and counting you cannot afford to miss this opportunity to attend in person.
2019 ROCET Locations
ROCET will be held at the Farmer’s Table/Wyndham Boca Raton.
Agenda highlights include sessions on:
» Trends in the Market
» A Tactical Perspective: Forecast Accuracy
» A Strategic Perspective: Total Revenue Management
» A Leadership Perspective: Data Visualization
» Bridging the Tactical and Strategic: Digital Marketing and Revenue Management
With over 31 cities and thousands of participants, this all-day session will teach you the real value of a convergent strategy. It’s not just maintaining but growing your revenue.
The sessions are not just for ‘awareness’ and an ‘exposure’ to ideas. These are practical, useable, actionable methodologies for real-world solutions to real-world everyday problems, presented from people who have ‘been in your chair’ and not simply provided service to it. Put simply the more of your team that can participate, the more you can collaborate on implementing what is shared more effectively.
Ready to sharpen your revenue skills? Below is a sample of some questions that will be tackled throughout the day:
- What will your Revenue Team do if there’s a Downturn?
- Is Your Revenue Team Really Practicing Convergence?
- Are competitors more “in the know” than you?
- Are you telling the revenue story properly for maximum Impact?
- How can I fill ‘holes’ in occupancy through targeted marketing?
Registration: Your registration fee includes access to the entire program, lunch, reception and a complimentary digital copy of the (CRME) Evolving Dynamics: From Revenue Management to Revenue Strategy Study Guide.
10:00 – 10:10 am Welcome
10:10 – 10:55 am Trends in the Market
Speaker: Veronica Andrews, Director, Digital Data Solutions, STR
A discussion of the economic trends that will impact hotel performance locally and beyond over the next 18 months. Our thought leaders will deliver expert insight, analysis, and practitioner-friendly perspectives on what the future may hold for the hospitality business, what the next economic game changer will likely be, and what you can do to manage it all.
10:55 – 11:40 am A Tactical Perspective: Forecast Accuracy
Speaker: Bonnie Buckhiester, ISHC, President & CEO, Buckhiester Management, and member of HSMAI’s Revenue Management Advisory Board
Not only is a forecast a prediction of potential and outcomes, but a valuable tool to set strategies and tactics to improve on the expected results. Forecast accuracy is the key to optimal sell strategies and now, more often than not, a revenue manager’s incentive bonus depends partly on their ability to forecast accurately. But the metrics that help the Controller or GM are surprisingly not the metrics that help the revenue manager do a better job. In this session we’ll drill down into disaggregated forecast accuracy analysis and illustrate how this valuable data can significantly improve your overall revenue management effort.
What steps can you take to positively impact results?
11:40 am – 12:40 pm Break & Lunch
12:40 – 1:30 pm Bridging the Tactical and Strategic: The Convergence of Revenue Management and Digital Marketing
Speaker: Loren Gray, CHDM, Founder, Hospitality Digital Marketing
In most organizations, revenue management and marketing are two separate departments with separate reporting structures, technology systems, data sources, goals and incentives. In this session, we take an “outside in” and “inside out” look at the how the different analytics used by marketing and revenue management departments impact the guest’s journey and identify opportunities to integrate revenue management and marketing decisions to optimize returns.
While hotel revenue management has been delivering “the right product at the right price” for decades, it is ultimately the job of predictive marketing to ensure that the goods are offered at “the right time” to the “the right customer.” Now, more than ever, technology is able to reveal who that customer is and when is the best time to solicit them. Today’s marketing field is a different beast that requires much more than a designer’s eye for sensible color schemes; it requires a skill set that is analytics-based and ROI-driven. Sound like anyone you know?
Attendees will take away: An understanding of today’s predictive analytics and location-based marketing spectrum; knowledge of how the landscape is changing and what you need to do in order to remain up-to-date; a series of questions you can ask in order to understand what internal data is available to you and how you can go about capturing more; several practical ways to use your CRM and GA data in order to drive targeted marketing strategies; and, top tips to maximize and leverage the power of free tools such as Google Analytics.
1:30 – 2:30 pm A Strategic Perspective: Total Revenue Management
Speaker: Bonnie Buckhiester
Managing room inventory and pricing is still the primary role for revenue management practitioners but by analyzing total profit contributions across multiple revenues streams, revenue management professionals can move property performance to the next level.
In this session, you’ll learn best practices in transcending traditional boundaries for the revenue management role and leave with 5 realistic next steps to implement these strategies in your property.
2:30 – 2:45 pm Connection Break
2:45 – 3:45 pm A Leadership Perspective: Data Visualization — Telling Your Story for Maximum Impact
Speaker: Bonnie Buckhiester and Veronica Andrews
Successful leadership in revenue management requires you to break down metrics into clear messages in order to persuade your audience of the value of the data you control – whether that audience is sales and marketing, operations, asset management and ownership, or customers.
This session will help you make your data more understandable and relatable to other parts of your business, creating a bridge between the data and those who need to learn something from it, or make decisions based on it. Give your stakeholders tailored insights they need to act faster and for better results – getting the right data to the right audience in the right way so that they can make it actionable and effective.
3:45 pm – 4:00 pm Closing & Wrap Up
4:00 pm – 5:00 pm Connection Reception
Bonnie Buckhiester, ISHC
President & CEO, Buckhiester Management Limited
Bonnie’s career in travel, tourism, and hospitality is extensive and multi-dimensional including positions as Senior Vice President, Operations for a major North American hotel REIT, General Manager for two 4½-diamond hotels, and General Manager Operations for a major tour operator. Her diverse product knowledge of hotel, tour, cruise, air, rail and car rental inventories offers a unique cross-fertilization of industry strategies.
She holds a bachelor’s degree from the University of Illinois, a Certificate in Revenue Management from Cornell University, and a Certification from Guelph University’s Hospitality Managers Development Course. She’s the former chairperson, and a multi-year board member, of the International Society of Hospitality Consultants and remains an active member of this prestigious organization. She is also a member of the HSMAI Americas Revenue Management Advisory Board. Bonnie is a sought-after speaker internationally, an accomplished author of numerous industry articles, and a regular columnist for Hotel News Now.
Loren Gray, CHDM
Founder, Hospitality Digital Marketing
Loren Gray is an internationally recognized authority in the field of hospitality marketing and has appeared as an expert yearly at numerous national/international industry conferences spanning the hospitality and digital marketing industries. Gray has spoken on the topic at industry events across the US, in Canada, the Caribbean, Asia, Europe, and Australia. He has contributed to publications such as the New York Times, USA Today, Financial Times and the Wall Street Journal, and has had articles published in numerous trade journals. In addition to participating and chairing on numerous industry boards and organizations, Gray is a past chair of the Digital Marketing council of the Hospitality Sales and Marketing Association International (HSMAI). HSMAI recognized Gray as one of the ‘Top 25 Extraordinary Minds in Sales and Marketing’ and served on the Board of America’s for HSMAI’s International Organization.
Veronica Andrews, CRME
Director, Digital Data Solutions, STR
Veronica provides analytical and end-user perspectives in the development of new STR data products. She is also responsible for designing and delivering product and user training to meet internal and external customer needs.
Prior to joining STR, Veronica has over 20 years of revenue management experience in the hospitality industry and is passionate about the discipline. Her experience includes property and above property leadership in both major brand and independent environments, and across a wide breadth of property types and locations. Veronica is a skilled facilitator and mentor, developing hospitality leadership, initiating and growing revenue management cultures where needed.
Veronica serves on the HSMAI Revenue Management Advisory Board, is a Certified Revenue Management Executive (CRME), and an active member of the AH&LA Food and Beverage Committee.