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Agenda Set for HSMAI Revenue Management Strategy Conference
in Orlando, June 25, 2007
MCLEAN, VA (May 22, 2007) – Reflecting the growing importance of Revenue Management in the hotel and travel industry today, pre-registration for the upcoming Hospitality Sales & Marketing Association International (HSMAI) Revenue Management Strategy Conference in Orlando on June 25, 2007 has more than doubled compared to prior events.  Much of this excitement has been fueled by HSMAI’s development of the Revenue Management Special Interest Group (SIG) and a long list of recent activities that have spurred additional attention.

“We’ve seen an enthusiastic and growing interest to the discipline of Revenue Management, and HSMAI is fully committed to support that movement by being the lead provider of education and information to further the industry and those engaged in the practice,” notes Robert A. Gilbert, CHME, CHA, president and CEO of HSMAI. 

“HSMAI’s Revenue Management SIG leadership has done a remarkable job of supporting that initiative, from outstanding, content-rich annual conferences and the development of a Revenue Management certification program to ongoing chapter activities, outstanding webinars, the publication of special reports and the debut last week of a cutting-edge simulation on Revenue Management,” he adds.

The impressive line-up of attendees to-date covers a wide range of professional responsibility, from presidents, CEOs, corporate directors of revenue management and chief marketing officers, to corporate operations managers, directors of marketing, sales and/or revenue management managers, regional directors, account executives and consultants.  Last year, over two-thirds of the attendees were in corporate or regional management positions.

A cross section of companies will be present at the fourth annual conference, including hotel companies such as Hilton Hotels Corporation, Hyatt Hotels & Resorts, InterContinental Hotels Group and Walt Disney Parks and Resorts, to individual properties including Four Seasons Hotel Atlanta, Millennium Bostonian Hotel, Mohegan Sun Casino & Resort and Ritz-Carlton Resorts of Naples.

Held in conjunction with HITEC and presented by HSMAI’s Revenue Management Advisory Board, the HSMAI Revenue Management Strategy Conference will feature a keynote address from Dr. Garrett van Ryzin, Professor of Business, Columbia University Graduate School of Business, on “The Future of Demand Modeling.”
 

4th Annual HSMAI Revenue Management Strategy Conference

Conference Agenda:

11:30am - 11:35am
Opening Remarks and Welcome

11:35am – 11:40am
HSMAI Update - Fran Brasseux, Executive Vice President, HSMAI

11:40am – 11:45am
Chairperson's Address - Tom Buoy, SVP Distribution & Revenue Management, Morgans Hotel Group

11:45am - 12:00pm
Updated Survey of the Revenue Management Profession in the Hospitality Industry - Dr. Jeffrey Beck, Professor, Michigan State University

12:00pm – 12:25pm
Lunch

12:25pm – 1:10pm
Keynote Address - Dr. Garrett van Ryzin, Professor of Business, Columbia University Graduate School of Business

The Future of Demand Modeling
A good model of demand is the heart and sole of a revenue management (RM) system. While current revenue management systems use many advanced methods to understand market demand, the truth is they only exploit a fraction of the relevant data that today’s information-enabled business environment makes possible. And only the simplest factors affecting demand are estimated from these data. Much more is possible.  What does the future of demand modeling hold? To gain some insight, we first take stock of current approaches to demand modeling and estimation. In particular, what do current methods do well? What important factors do they ignore? We then look at how emerging concepts from academic research and leading-edge practice can overcome the limitations of current RM systems. Lastly, we examine how firms can strategically position themselves to take maximum advantage of these emerging technologies.
1:10pm – 1:30pm
Question & Answer Session

1:30pm - 2:00pm
Break and Sponsor Showcase

PRIMER BREAKOUT SESSIONS

2:00pm - 2:45 - Overview of Condo Hotel Revenue Management

Moderator: 
Elizabeth Cambra, CRME, Corporate Director, Revenue Optimization, Outrigger Hotels & Resorts

Panelists include: 
Dr. Ravi Mehrotra, Founder, Chief Scientist, IDeaS
Tom Anderson, Executive Vice President, Distinctive Lifestyle, division of The Continental Group, Inc. 

Panel Discussion
There are well over 200 condo-hotel projects under development throughout the United States. Though the asset type has been around for some time, interest in it has grown geometrically during the last few years as construction costs increased and developers found it as a way to mitigate risk and obtain financing.  As the dust settles, how can these hybrids be optimally revenue managed.

2:45pm - 3:30pm - Overview of Casino Hotel Revenue Management
Moderator:
Timothy Coleman, Vice President, Revenue Management, MGM Grand Resorts

Panelists include:
Doug Hesley, Regional Director Of Revenue Management, Atlantic City Region, Harrah’s 
Tracy Tracano, Director of Revenue Management, Mohegan Sun Casino and Resort
Tom Walker, Vice President, Business Consulting, Rainmaker Group
James Ruttley, Vice President, Client Services, IDeaS

Panel Discussion
Revenue Management is evolving from the optimization of room revenue to the integration of all property revenue streams to maximize profits. The Casino industry segment is on the leading edge of these efforts. Several key players in Casino Revenue Management, including practitioners and vendors, will share their experiences on how they are integrating casino gaming values, as well as group and room revenues onto their Revenue Management decision processes and systems.

TECHNICAL BREAKOUT SESSIONS

2:00pm - 2:45pm - Advanced Group Revenue Management

Moderator: 
Barb Bowden, Corporate Director of Revenue Management, Peabody Hotels

Panelists include: 
Jack Easdale, Corporate Director of Revenue Management, Gaylord Hotels
Amy Cohen, Director of Yield Management, Walt Disney World Swan and Dolphin

Panel Discussion
This interactive panel discussion will explore the critical issues of group revenue management.  Topics include current trends in forecasting, advanced displacement analysis, function space revenue management, technology, strategic pricing, the roles of revenue management and sales in group strategy and future trends.

2:45pm - 3:30pm - Incorporating CRM in the Revenue Management Process
Moderator:
Tom Buoy, CRME, Senior Vice President, Distribution & Revenue Management, Morgans Hotel Group

Panelists include:
Cameron Davies, Director-Revenue and Profit Management, Walt Disney Parks and Resorts
Rory Fagan, Director, Business Development, PROS

Panel Discussion
The fusion of CRM data to a company’s RM function can rev up a hotel’s performance and long-term value…  Find out how companies that collect detailed behavioral/transaction data have thrived.

3:30pm - 4:00pm
Break and Sponsor Showcase

4:00pm - 4:30pm
TBD

4:30pm - 5:15pm
Speed Networking - This dynamic format will enable you to meet with your peers and gain an understanding of the RM issues confronting them.

5:15pm - 5:30pm
Closing Remarks

5:30pm - 6:30pm
Cocktail Reception*

Registration:

HSMAI Members - $275
HSMAI Student Members - $140
Non HSMAI Members - $435 - Includes one-year HSMAI Membership

* HSMAI Revenue Management Strategy Conference attendees are also invited to the IDeaS HITEC Party, Monday, June 25 from 7-10 PM at the Red Coconut Club in Universal City Walk. Email kholtegaard@ideas.com to RSVP.

HSMAI's Revenue Management Strategy Conference is co-located with HITEC

The breakout sessions will include Primer Sessions featuring overviews of “Condo Hotel Revenue Management” and “Casino Hotel Revenue Management,” as well as Technical Sessions on “Advanced Group Revenue Management” and “Incorporating CRM in the Revenue Management Process.”

A highlight on the agenda will be a presentation by Dr. Jeffrey Beck, Professor, Michigan State University, on the findings of the “Updated Survey of the Revenue Management Profession in the Hospitality Industry.”  The program will also include a Sponsor Showcase, lunch, cocktail reception, opening and closing remarks, and Speed Networking – a dynamic format whereby attendees will meet with peers to gain an understanding of the revenue management issues confronting them.

A bonus, pre-conference opportunity to learn the ‘critical thinking’ skills required in today’s revenue management environment will be offered to participants.  “Critical Thinking in Revenue Management: An Introduction to Revenue Management Simulation Programs” is designed to be interactive and will provide an overview of the recently-launched HSMAI Revenue Management simulation exercise.  It has been structured so that attendees can participate in small group simulation exercises as well as pose questions to a panel of senior revenue management professionals.  The session will be held from 9-11 am at HITEC, just before the start of the HSMAI Revenue Management Conference, and is also open to HITEC attendees.

The cost to attend the conference is $275 for HSMAI members and $435 for non-members, which includes a one-year membership to HSMAI. 

Sponsors of the event are Amadeus, IDeaS, Incite Response, SECURE-RES, American Express, EasyRMS, PROS, Rainmaker, SoftBrands, TIG Global and TravelCLICK. 

In other Revenue Management activities, HSMAI has developed a prestigious certification in revenue management – the CRME.  Individuals working in revenue management in the hospitality industry, and who meet the minimum qualifications, can take an online examination offering them a chance to confirm their knowledge, experience and capabilities in their field.  More than 20 industry professionals achieved the designation since the program launched in the fall of 2006.  For more information, go to www.hsmai.org/resources/certification.cfm

The HSMAI Revenue Management Special Interest Group (SIG) was created to advance the revenue management discipline through education, certification, participation, resources and guidance, enabling leaders to optimize revenue and performance within their own organizations.  Ongoing initiatives include strategy conferences and webinars, online community and Web site of resources, in-depth reports, networking opportunities and Certified Revenue Management Executive (CRME) certification.  For more information, visit www.revmanagement.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 annual events, including HSMAI’s Affordable Meetings®.  Founded in 1927, HSMAI is an individual membership organization comprising more than 7,000 members worldwide, with 39 chapters in the Americas Region.

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Contact:

HSMAI
8201 Greensboro Drive, Suite 300, 
McLean, VA 22102
phone (703) 610-9024
www.hsmai.org

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Also See: Focusing on “The Politics of Revenue Management,” the 3rd HSMAI Revenue Management Strategy Conference Attracts 47 Different Hotel Brands and Management Companies / June 2006
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