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  Focusing on “The Politics of Revenue Management,” the 3rd HSMAI
Revenue Management Strategy Conference Attracts 47 Different
Hotel Brands and Management Companies
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Event Also Features Release of ‘Defining Revenue Management’ Research Publication

MCLEAN, VA (June 12, 2006) – Attendance has exceeded all expectations for the 3rd Hospitality Sales & Marketing Association International (HSMAI) Revenue Management Strategy Conference to take place in Minneapolis on June 19, 2006. 

More than 170 industry professionals from leading organizations including Starwood Hotels & Resorts, Best Western International, Benchmark Hospitality, InterContinental Hotels Group, Marriott International, Peabody Hotel Group and Hyatt Hotels & Resort, as well as a large number of individual hotels and resorts will attend.  Participants registered to date include presidents, vice presidents, directors and managers of revenue management, sales and marketing from 47 different hotel brands and management companies.  This is in addition to representation from dozens of unit level managers.

Focusing on “The Politics of Revenue Management,” the agenda will deliver forward-thinking ideas, issues and strategies on the topics of greatest concern to those involved in revenue management at both the property and corporate level.

Timed in conjunction with HITEC 2006, the conference is presented by HSMAI’s Revenue Management Advisory Board.

“As revenue management is so specialized, the conference presents a unique opportunity to learn about the practice, hear new thoughts and ideas, and take the discipline to the next level,” states Barbara Bowden, corporate director of revenue management, Peabody Hotels Group and chair of HSMAI’s Revenue Management Advisory Board.  “This is a wonderful, all-in-one opportunity and learning experience for anyone whose job involves any level of revenue management,” she adds. 

The agenda is as follows:

11:30am – 11:40am
Introduction of “The Politics of Revenue Management” presented by HSMAI Revenue Management Special Interest Group (SIG) Advisor Doug Kennedy, who will discuss how this theme has resonated with revenue management professionals everywhere this year and will be tied-in to the presentations throughout the day. 

11:40 – 11:50am
Welcome and introduction of Special Interest Groups by Bob Gilbert, CHME, CHA, president and CEO of HSMAI.

11:50 – Noon
Barbara Bowden, corporate director of revenue management, Peabody Hotels Group and chair of HSMAI’s Revenue Management Advisory Board, presents the year’s Revenue Management SIG accomplishments, including publications, certifications and outreach events.

Noon – 12:25pm
“Twenty Years of Revenue Management: Has It Worked?” 
Trevor Stuart-Hill, vice president of distribution and revenue systems, Destination Hotels & Resorts, presents a historical perspective on the emergence of the profession of revenue management and how it has coincided with historical gains in RevPar performance.

12:25 – 12:50pm 
Lunch

12:50 – 1:40pm

Keynote Presentation – “Practical Considerations for a Comprehensive Approach to Revenue Management”
Tom Walker, vice president of business consulting at The Rainmaker Group, presents an overview of how revenue management principles and concepts can and should be integrated with virtually all components of marketing and operations. In today’s business environment, hotels need to consider how effective revenue management is impacted by organizational positioning. They also need to integrate the revenue management paradigm into rational pricing, CRM, distribution, segmentation, and overall customer value perception.
 1:40 – 2pm:
Q&A session with Walker and the audience, moderated by Tom Buoy, vice president of distribution and revenue management, Morgans Hotel Group

2:00 – 2:30pm
Refreshment Break/Partner Showcase

2:30 – 3:30pm 
Concurrent break-out sessions:

Session One: “Pricing Consideration for Group Sales Business”
Barbara Bowden moderates this interesting session on how revenue management principles can and should be applied in a group/convention hotel environment. 

Session Two: Bringing More Than “The Numbers”
Communicating the revenue management paradigm and persuading them to believe you!  Shawn McAteer, senior director of field sales & marketing for Embassy Suites/Hilton, explores the diversity of talents and skills necessary for today’s RM professionals to succeed and identifies some of the core skills needed to make the Politics of Revenue Management work in the best interests of your hotel company.

Session Three: “Who Do You Report To and Where Did You Come From?” The State of the Revenue Management Profession in 2006.
During this session, Jeff Beck, Ph.D., of The School of Hospitality Business at Michigan State University and Susan Gregory, Ph.D., professor and head of the hospitality program at Eastern Michigan University will present the initial findings of the survey they are conducting in conjunction with their research project to study the RM profession, such as reporting lines, salary ranges, educational background, operational experience, and other insights gained so far from this project. 

3:40 – 3:50pm 
The History of the Publication: Defining Revenue Management: Top Line to Bottom Line.  Bob Gilbert and Tim Wiersma present an overview of how HSMAI’s new publication Defining Revenue Management came to be.

3:50 – 4:20pm 
Lessons learned from writing and producing Defining Revenue Management. Authors Kathleen Cullen and Caryl Helsel, along with Tim Wiersma, chair of the Publications sub-committee. Copies of the publication are to be distributed for the first time at the conference.

4:20 – 4:40pm 
Refreshment Break/Partner Showcase

4:40 – 5:00pm 
Q&A Panel discussion with the authors of “Defining Revenue Management.” 

5:00 – 5:30pm 
Closing Remarks 

5:30 – 6:30pm 
Cocktail Reception

Registration is $300 for HSMAI members and $455 for non-members, which includes a one-year HSMAI membership. 

Sponsors of the conference are: Amadeus, SECURE-RES, IDeaS, The Elise Group, Hotel Information Systems, PROS, TIG Global, AltiusPar, Aspire, EZ Revenue Management Solutions, Maxim Revenue Management Solutions, Opera Revenue Management, TravelCLICK, and HSMAI University.  For more information on partnership opportunities, contact Melanie Penoyar, director of development, at (703) 610-9024 or mpenoyar@hsmai.org.

HSMAI is an organization of sales and marketing professionals representing all segments of the hospitality industry.  With a strong focus on education, HSMAI has become the industry champion in identifying and communicating trends in the hospitality industry, and bringing together customers and members at eight annual events, including HSMAI’s Affordable Meetings®, and HSMAI World Quest.  Founded in 1927, HSMAI is an individual membership organization comprising more than 7,000 members worldwide, with 38 chapters in the Americas region.

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Contact:

Hospitality Sales & Marketing Association International
8201 Greensboro Drive, Suite 300
McLean, VA 22102, 
phone (703) 610-9024
www.hsmai.org

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Also See: Revenue Management: Too Tactical and Not Strategic Enough; Highlights from HSMAI's Revenue Management Strategy Conference / June 2005
Hotel Yield Management Professionals Ponder Future; HSMAI Revenue Management Strategy Wrap Up / July 2004

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