Business & Finance

Senate Confirms John Bryson for Commerce Secretary

October 24, 2011 - The U.S. Travel Association today applauded the U.S. Senate confirmation of John Bryson for commerce secretary. Bryson succeeds Gary Locke, U.S. Ambassador to China, who had been a strong advocate for improved traveler facilitation as commerce secretary.

“Thanks to his extensive experience in both the public and private sectors, John Bryson knows firsthand the important role that the $1.8 trillion travel industry plays in stimulating our economy and employing 14.1 million Americans,” said Roger Dow, president and CEO of the U.S. Travel Association. “We look forward to working with him on ways the travel industry can stimulate economic recovery, particularly through regaining America’s historic share of the overseas travel market, which would help meet the President’s stated goal of doubling U.S. exports.”

The U.S. Travel Association is the national, non-profit organization representing all components of the travel industry that generates $1.8 trillion in economic output and supports 14.1 million jobs. U.S. Travel's mission is to increase travel to and within the United States. Visit www.ustravel.org.

Coming Up In The October Online Hotel Business Review


Feature Focus
Revenue Management: Measuring All Hotel Revenue Streams
Revenue Management is a dynamic and ever-evolving profession and its role is becoming increasingly influential within hotel operations. In some ways, the revenue manager's office is now the functional hub in a hotel. Primarily this is due to the fact that everything a revenue manager does affect every other department. Originally revenue managers based their forecasting and pricing strategies on a Revenue per Available Room (RevPAR) model and some traditional hotels still do. But other more innovative companies have recently adopted a Gross Operating Profit per Available Room (GOPPAR) model which measures performance across all hotel revenue streams. This metric considers revenue from all the profit centers in a hotel - restaurants, bars, spas, conference/groups, golf courses, gaming, etc. - in order to determine the real gross operating profit per room. By fully understanding and appreciating the profit margins in all these areas, as well as knowing the demand for each one during peak or slow periods, the revenue manager can forecast and price rooms more accurately, effectively and profitably. In addition, this information can be shared with general managers, sales managers, controllers, and owners so that they are all aware of and involved in forecasting and pricing strategies. One consequence of a revenue manager's increasing value in hotel operations is a current shortage of talent in this field. Some hotels are being forced to co-source or out-source this specialized function and in the meantime, some university administrators are looking more closely at developing a revenue management curriculum as a strategy for helping the hospitality industry close this gap. The October issue of the Hotel Business Review will address these significant developments and document how some leading hotels are executing their revenue management strategies.