Intro – 00:00:04: Welcome to the Resort Second podcast introduced by Revinate, the podcast the place we focus on how lodge know-how shapes each second of the hotelier’s expertise. Tune in as we discover the innovative know-how remodeling the hospitality {industry} and listen to from specialists and visionaries shaping the way forward for visitor experiences. Whether or not you’re a hotelier or a tech fanatic, you’re in the proper place. Let’s dive in and uncover how we are able to elevate the artwork of hospitality collectively.
Karen Stephens 00:00:36: Whats up, and welcome to the Resort Second podcast. I’m your host, Karen Stephens, the Chief Advertising and marketing Officer of Revinate. And at present I’ve a little bit of a unique format for you. Immediately, I’m gonna spend the time on the podcast introducing myself as your host, and provide you with somewhat little bit of background concerning the podcast itself. So initially, I wished to thank all of our listeners. We’ve got fairly a couple of of you as of late, nevertheless it wasn’t all the time the case. So The Resort Second podcast began across the time of COVID and it was truly an organization named Go Second that launched the podcast. So simply when it comes to background, I believe for these of you listening that have been within the {industry} when COVID hit, we’ll all keep in mind that that was a time of nice uncertainty when all of the motels have been shut down. We weren’t certain when issues have been gonna open again up. And actually the spirit of this podcast was simply to create a neighborhood the place hoteliers may come collectively and share tales and insights about how they have been dealing with the pandemic. On the time, the host was a lady named Jenn Suski, who was a salesman on the Go Second staff who has since moved on. She did a terrific job form of within the early days bootstrapping this podcast and getting it on the airwaves. Then in 2021, Revinate acquired Go Second. So Go Second has, the product is named Ivy, which is a messaging app. And so Revinate acquired that to convey it into our portfolio of activation channels for our Buyer Information Platform. In order that was thrilling instances for us. On the time, I used to be Chief Income Officer. So I built-in the gross sales staff and the CS staff as we introduced on that platform. And about six months into the brand new firm, which included additionally one other firm referred to as NAVIS, which I’ll speak about right here in a second. However about six months into that mission, the VP of Model who we additionally introduced over from Go Second, a lady named Sanjana Chappalli. She got here to me and she or he stated, “Karen, I need you to host the podcast.” And I bought to inform you, I used to be not eager to do that. So I wasn’t certain why she wished me to do it. However what had occurred was I held an organization all arms. And my staff that has labored with me for some time is aware of that I are inclined to get pleasure from — I’m very animated after I communicate. And after I speak about issues, I get individuals fired up. So she actually felt like this was one thing that we may use extra broadly inside the {industry}. So I pushed again vehemently. She made me do it anyway, and sidebar, she’s additionally making me do that episode, regardless that I don’t need to. However I’m doing it anyway. Anyway, shout out to Sanj. We began doing the podcast right here and there, becoming it in. Clearly, Chief Income Officer is a giant job. I had so much occurring working a gross sales staff. So we have been becoming within the broadcast after we may. However even having stated that, proper out of the gate, we had some phenomenal visitors that joined us from the CRO of Sojern, my good buddy, Noreen Henry, to Tom Luersen, who runs CoralTree Hospitality. So proper from the soar, we had some actually good visitors on this system. And one other gentleman who you’ll hear from at present, we’re going to speak somewhat bit about funds season from Charlestowne Accommodations. So we all the time had that momentum with nice visitors approaching. However we have been like, how can we do extra? And the way can we even enhance the profile somewhat bit extra of the podcast? Nicely, after 5 years as Chief Income Officer in April of this 12 months, 2024, I moved over into the Chief Advertising and marketing Officer function, which has been a incredible transition for me. So simply to again up somewhat bit about who I’m, the place I come from. I’ve been with Revinate for 11 years — began with popularity administration, which is what Revinate was recognized for. Very disruptive within the {industry} after we got here on the scene. The corporate began in 2009, and I believe I used to be worker 55 in 2013. So got here on in a gross sales capability, labored with among the greatest manufacturers in hospitality for popularity. After which as we began to transition into extra of a visitor information firm, we launched inGuest in 2015, which is now referred to as Revinate Advertising and marketing, which is an industry-leading e-mail advertising and marketing CRM. So I helped roll that out globally as a gross sales chief. After which I moved into the VP of Buyer Success and finally into CRO. So I’ve been with Revinate for fairly some time over the evolution of our product set. As Chief Income Officer, I additionally oversaw the acquisition or built-in the gross sales, CS, and advertising and marketing groups of NAVIS. So along with buying Go Second in 2021, we acquired NAVIS, which is basically the jewel of hospitality know-how when it comes to the service, the individuals, and likewise the shopper base that they introduced into Revinate. So we’re very pleased with every thing that got here with that acquisition. And as I discussed, most likely the spotlight of that in hospitality is that buyer base. So essentially the most lovely manufacturers in North America, when you can title it, they’re a part of our portfolio. Independents as nicely, as a result of NAVIS targeted on the voice channel. And once more, as Revinate has advanced from popularity solely to e-mail advertising and marketing CRM to now a full visitor information platform. So what this implies is every thing built-in on the again finish when it comes to all the information inputs down into single view of visitor after which the activation channels of voice, e-mail, and messaging, the acquisitions of NAVIS and likewise Go Second have been integral to that technique. So it’s been thrilling as a Chief Income Officer to convey all that on board. Much more thrilling for me, although, I’ve to say of all of the roles that I’ve had in my profession, Chief Advertising and marketing Officer has been by far most aligned with who I’m as an individual. It’s inventive. It’s enjoyable. And the podcast is simply one other pure extension of that function. So, you might need observed the feel and appear. Every part’s gotten somewhat completely different about Resort Second since I came to visit on this capability in April. So the staff stays the identical. Clearly, there’s lots of people that make this occur from the VP and model that I discussed. We’ve got a younger girl named Brenna Turpin who makes certain that we have now the proper visitors and the proper scripts and all of that. We’ve got designers. So there’s a complete staff behind this factor, however hopefully you’ve loved the brand new branding — the brand new feel and appear. And beginning in July of this 12 months, we truly moved to a weekly cadence. So that you’re going to be listening to from us increasingly more. And as I discussed, as we’ve advanced, our visitors simply carry on coming. The hits carry on coming. So in July already, we’ve had Joe Pettigrew, who’s the Chief Business Officer of EOS. We’ve had Carlo Del Mistro, who’s the Chief Digital Officer of Ennismore. We additionally had JC Thompson, that got here out. Anyone who’s labored in hospitality and coaching on the reservation gross sales aspect of the enterprise and name facilities, you recognize JC Thompson. He’s the founder and CEO of Pursuance. So it’s actually simply been a incredible trip. And I believe the opposite factor that has advanced as we’ve performed this podcast increasingly more are the subjects. So we’ve all the time wished to speak about know-how and the way that impacts visitor expertise. Final 12 months, we talked so much about sustainability. We talked so much about AI. However this 12 months, the main target, it’s been actually fascinating to see a few actually cool traits that my visitors are hitting on each time that we speak. So the primary one is Complete RevPAR. So increasingly more the main target, we are able to see it’s not simply on the room fee and understanding no matter you possibly can work out about your visitors coming from PMS information and different sources. But it surely’s additionally concerning the ancillary. So what are they doing when it comes to F&B? What are they doing when it comes to spa, golf? How do you get all of that information right into a single profile so that you just actually perceive the whole lifetime worth of the visitor? So that’s one factor that’s an enormous subject. After which the opposite huge subject is my favourite, which is web working earnings. So NOI, NOI, NOI. And we’ve had numerous visitors which have talked about this. So we had a number of recordings from our NAVIGATE convention that occurred in Miami this 12 months. And two of these visitors that have been on this system, one was Kathleen Cullen, who’s a vp of PTG, which is a consulting arm. So she talked so much concerning the significance of driving direct bookings, taking advertising and marketing spend out of OTA channels and repurposing that in an effort to drive your individual direct bookings and what an impression that makes financially. After which one other girl that we additionally spoke with at NAVIGATE is Jennifer Hill from Kalibri Labs. So Jennifer, Kathleen, after which, in fact, considered one of my favourite individuals within the {industry}, Caryl Helsel, who’s from Dragonfly Strategists. I used to be fortunate sufficient to have these three women on a panel with me at NAVIGATE the place we talked about business technique. And the core of economic technique is web working earnings. So I’m going to play clip now from the podcast with Jennifer Hill, who we additionally talked to at NAVIGATE to speak somewhat bit extra about web working earnings.
Jennifer Hill – 00:09:44: So an important factor round business technique and dealing collectively in that staff, income, gross sales, advertising and marketing, simply to maintain it easy, is to actually perceive the complete image of market demand and the dynamics so you possibly can perceive what’s on the market earlier than you resolve what to go and get, the place you allocate sources. Whether or not that’s time or expertise or your precise advertising and marketing spend to these alternatives. And that begins with a really proactive, strategic dialog with these key disciplines, and business areas. So nobody is being consolidated when it comes to function or accountability. There ought to nonetheless be equal voices. And people individuals will nonetheless apply and execute of their areas of experience and expertise. However we’re going to make these selections collectively. We’re going to resolve how we’re going to deploy our funds, how we’re going to deploy our time. After which the people who find themselves the specialists in these areas go off and do their factor. And the largest problem is getting everyone on board for understanding what metrics are going for use to measure that success. As a result of I believe we’ve had that stress in these silos with income, gross sales, advertising and marketing previously as a result of we have now completely different targets.
Karen Stephens – 00:10:56: Nice. So talking of web working earnings, one other visitor that I had on this system in July is a gentleman named Joe Pettigrew, who’s the Chief Business Officer at EOS Hospitality. So EOS is among the quickest rising administration firms in the US. Joe comes from a very strong background. He came to visit to EOS from Starwood Capital, which is clearly one other asset possession firm that owns a ton of motels. I believe what’s fascinating about EOS and what Joe shared with me that what attracted him to it’s they personal they usually handle their motels. In order that they actually concentrate on the entire portfolio and the entire playbook throughout their portfolio. I additionally need to give a shout-out to Brittain Accommodations, which is a part of EOS. So EOS, they’ve a relationship and Britain is among the manufacturers inside that portfolio. However Patrick Norton and staff do an incredible job. And if I may give any plugs to any podcast to return and hearken to out of, Resort Second, I might say, please have a hearken to Patrick Norton, who was in November of final 12 months. However going again to Joe Pettigrew and speaking about web working earnings, if you consider how house owners take into consideration web working earnings and what it takes to maneuver that needle, I believe that that is some actually good perception. So I’m going to have Joe take it away, after which we are able to speak somewhat bit about funds season. We’re in the course of summer season as I’m recording this, however as everyone knows, this goes shortly and unexpectedly the children might be again at school and growth, it’s… It’s funds season for motels. So I believe as an {industry}, when you’re concerned in funds in any respect, when you’re not fascinated with web working earnings, try to be. As a result of in case your house owners are signing off on the funds, understanding how you can communicate their language and understanding how you can calculate that’s going to be tantamount to you getting no matter you want within the funds to make your online business run, whether or not that’s a know-how buy, whether or not that’s a advertising and marketing technique, no matter it could be, when you apply the lens of web working earnings and also you perceive, the business technique playbook, you’re going to be in a terrific place. So I’m going handy it over to Joe, after which we’ll speak somewhat bit about funds season.
Joe Pettigrew – 00:12:59: For many of us who’re working within the lodge, so that’s mainly anybody in addition to the oldsters who work on the model aspect. However when you’re working within the lodge or as a part of the administration firm otherwise you’re working as a part of the possession group, actually the one factor that ever issues in measuring the success of the lodge that you just’re working in is the NOI. Nothing else issues. Loyalty proportion doesn’t matter. Direct reserving proportion don’t matter. What number of followers you’ve got on Instagram doesn’t matter. What number of emails, open fee, none of that stuff truly issues. The one factor that issues is the NOI. Now, with a purpose to enhance that NOI, all of these KPIs that I simply form of whittled on all could have some impression in driving that NOI. However the magnitude of what every a kind of issues make the largest impression might be completely different for each lodge in numerous places, relying on which model you’ve got and what sort of services you’ve got. And so you possibly can’t strategy any considered one of these with a quite simple mindset of like, “I imply, each direct reserving proportion, you’re solely like 20% on 40%.” That comparability isn’t truthful when the one factor that actually issues is we have to simply maximize on the NOI.
Karen Stephens – 00:14:13: All proper. In order I discussed, funds season is a giant deal right here at Revinate. So clearly, we’re a know-how vendor. I’m not going to lie. Our job is to promote our prospects the most effective know-how on the earth. And so we have now a giant concentrate on ensuring that our prospects and prospects are totally ready to grasp the worth of Revinate and promote the worth of Revinate. I discussed earlier than within the intro, the corporate that we acquired in 2021, which is named NAVIS. So NAVIS is now part of Revinate, however the reservation gross sales is the platform that we introduced over on the SaaS aspect of the enterprise. Reservation gross sales is name heart software program. And I’ve stated on the podcast earlier than, I believe a whole lot of instances individuals assume, “Oh, you recognize, voice channel, isn’t that going away?” And the reply is “No, it’s not going away.’ And if you consider the most effective manufacturers, after I say essentially the most lovely manufacturers in North America and impartial motels are prospects of Revinate on this platform, that isn’t hyperbole. That’s completely the case. I protect my prospects’ proper to be my prospects. I’m not going to checklist them for you, however I imply, belief me, they’re there, they usually’re lovely. And plenty of of them run on Revinate as a result of they should keep a Forbes five-star ranking. They should perceive how you can flip their reservation workers into salespeople that know how you can convert a reserving. And the best way that you just convert that reserving is by having all the information at your fingertips with a purpose to know what that visitor prefers? Tips on how to strategy and how you can be sure that the visitor will get the very best expertise, not solely making that reservation, but in addition after they get on property. So it’s a really orchestrated movement and reservation gross sales is there as a platform to assist name heart managers and reservation groups optimize, optimize throughout the board. And after I inform you that that drives a ton of income and in the end web working earnings to the constructive, once more, not hyperbolic. It’s among the finest stored secrets and techniques in hospitality for my part. And I believe the largest competitor to res gross sales, truly, if I actually give it some thought, is motels not understanding that they want it. So we see this so much. When we have now a model that purchases the platform, we broaden all through that model, and all of their motels finally take it as a result of it drives a lot income. I imply, the typical keep worth on a voice reserving is 2 to 4 instances what occurs on a web-based reserving. So having the ability to perceive how you can leverage that’s extremely necessary. And having the ability to perceive and have the instruments in entrance of you to be sure that all your brokers are firing on the highest degree of conversion is vastly necessary. I additionally need to say that as a praise to reservation gross sales, the opposite a part of NAVIS that got here together with the acquisition is our strong name heart staff. So I discussed Forbes 5-Star. We’re the service that picks up when our lodge prospects sign off for the afternoon, and their reservation groups go dwelling. These calls roll into RezForce. After all, when you’re dialing in as a buyer from the skin, you’d by no means know that you just’re not chatting with the lodge themselves as a result of that’s how good our brokers are. And we get secret-shopped by Forbes on a regular basis, and we all the time move with flying colours. So you possibly can belief that piece of enterprise with us. My subsequent visitor I wished to spotlight is JC Thompson. So JC Thompson is the founder and CEO of Pursuance. And we have now a whole lot of mutual prospects. In the event you hearken to the complete episode, you’ll hear me say that a few instances. So we have now a whole lot of mutual prospects. And JC has actually come up within the {industry} to assist firms perceive how you can prepare and encourage brokers to be the most effective they are often to drive conversion. So let’s hear about this from JC.
JC Thompson – 00:18:00: One thing’s been misplaced there that we have now to get again to. I believe when you and I had this dialog seven years in the past, I believe we’d possibly have been speaking about, is the voice aspect, is somebody calling a lodge or a vacation spot going to go away altogether? Nicely, I believe that’s been confirmed that’s not true. There are a excessive proportion of individuals which can be keen to make these buy selections with out speaking to anyone. However I believe that lots of people need that. They need to reaffirm, am I making the proper alternative? Is that this use of my cash? And I don’t assume that essentially correlates with age. For some time, we’re like, oh, nicely, anybody below 30, they’re simply going to e-book it on-line. Nicely, that’s proving to be unfaithful.
Karen Stephens – 00:18:37: All proper. So I’ve one final clip for you as a result of it’s funds season, which is so close to and pricey to all of our hearts. And that’s Johnathan Capps, who’s the Chief Income Officer of Charlestowne Accommodations. So Charlestowne, additionally a buyer of Revinate, who we’re very excited to have on the complete platform. And right here you possibly can hear Jonathan speak about his strategy to funds season, which is close to and pricey to all of us. So. I’ll go away you with that after which come again with some closing ideas.
Jonathan Cadds – 00:19:04: , we’ve had some cool stuff confide in the know-how within the house. However I might say that with the priority of as we speak about budgeting. Within the sense that if there’s one other buzzword within the {industry} or throughout all firms globally is labor, proper? That uptick in labor has been so dramatic and so fast, I fear that it pushes the tech adoption down. Now, my asterisk on that might be, it would push any new initiative down. Lots of instances the brand new initiatives are in a way of, I believe tech-related as of late, they really feel extra of that within the house, is that I believe two issues. I believe in a whole lot of instances in tech house, it’s laborious to quantify the worth in a one-year image. So doing it within the means of a budgeting course of isn’t precisely the large promote, proper? As a result of you’ll want to present a two to three-year impression. So I believe the factor for me is to not get that lower is it could take somewhat further work. It might take doing a one-year funds and a three-year professional forma and saying, “Nicely, right here’s how that appears to impression 12 months two and 12 months three.” As a result of I don’t assume a whole lot of instances you’re going to place in a brand new system or undertake a brand new tech and also you’re three months in and it’s going to knock out an FTE unexpectedly. The robots delivering towels aren’t simply taking over a houseman place within the first three months. I imply, most likely nonetheless holding a place as a result of somebody must load it and do different issues. So I believe there’s simply a while it takes for these issues. And I believe the promote to management, to possession, is that this can be a long-term impression. It places us on an equal footing or places us a leg up. It gives worth to the visitors. It’s not all the time a labor alternative or one thing to that impact or an expense financial savings. It’d help a price. So I believe for somebody to place their gross sales hat on and say, “What’s the piece that it’s bringing all throughout the board, proper? And does it not solely impression a financial savings piece, but in addition a guest-facing piece?”
Karen Stephens – 00:21:06: Proper. So some nice ideas there from Jonathan. I’ll simply say that, please regulate Revinate. We’re attempting some actually thrilling stuff this 12 months. As I discussed, I’m very excited to be on this function as Chief Advertising and marketing Officer. I’ve a stellar staff, and we’re able to push the envelope. So please maintain your eyes peeled so you possibly can see how we’re approaching funds season and ensuring, once more, that our prospects and prospects are totally ready and outfitted to sort out this season with as a lot assist and help as we are able to present. And we’re going to have somewhat enjoyable. So I’ll go away it there and also you’ll simply need to belief me on that. Watch this house. Additionally need to say, since I’ve the ground and I don’t usually get a plug, Revinate services, when you haven’t checked us out recently, I might encourage you to do that. So we’re not your father’s popularity firm anymore. We’re a full visitor information platform and we’re all the time completely happy to provide you a tour of what we have now. So all the episodes that I talked about at present, so you possibly can see the complete variations of all of those for Jennifer Hill, for Joe Pettigrew, for JC Thompson, and for Jonathan Capps are linked within the remark part. After which final however not least, when you’d wish to be a visitor on the podcast, we’d love to listen to from you. So simply drop me a line, karen@revinate.com, Ok-A-R-E-N @revinate.com. And yeah, we’ll see what we are able to do. And we’ll see you quickly on an upcoming episode of the Resort Second podcast. Thanks.
Outro 00:22:36: Thanks for becoming a member of us on this episode of Resort Second by Revinate. Our neighborhood of hoteliers is rising each week, and every visitor we communicate to is tackling {industry} challenges with the innovation and suppleness that our {industry} calls for. In the event you loved at present’s episode, don’t overlook to subscribe, fee, and go away a assessment. And when you’re listening on YouTube, please just like the video and subscribe for extra content material. For extra info, head to revinate.com/hotelmomentpodcast. Till subsequent time, maintain innovating.
