Intro – 00:00:04: Welcome to the Lodge Second podcast offered by Revinate, the podcast the place we talk about how resort expertise shapes each second of the hotelier’s expertise. Tune in as we discover the leading edge expertise 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 correct 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 Lodge Second podcast. I’m your host, Karen Stephens, the Chief Advertising Officer of Revinate. And at present I’ve a little bit of a unique format for you. At present, I’m gonna spend the time on the podcast introducing myself as your host, and provide you with just a little little bit of background concerning the podcast itself. So initially, I needed to thank all of our listeners. Now we have fairly a number of of you lately, however it wasn’t all the time the case. So The Lodge 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 accommodations have been shut down. We weren’t positive when issues have been gonna open again up. And actually the spirit of this podcast was simply to create a group 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 girl named Jenn Suski, who was a salesman on the Go Second workforce who has since moved on. She did an ideal job type 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 workforce and the CS workforce 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 girl 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 let you know, I used to be not eager to do that. So I wasn’t positive why she needed me to do it. However what had occurred was I held an organization all palms. And my workforce 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 converse. And after I speak about issues, I get folks 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, despite the fact 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 quite a bit occurring working a gross sales workforce. So we have been becoming within the broadcast once we may. However even having stated that, proper out of the gate, we had some phenomenal company that joined us from the CRO of Sojern, my good good friend, Noreen Henry, to Tom Luersen, who runs CoralTree Hospitality. So proper from the leap, we had some actually good company on this system. And one other gentleman who you’ll hear from at present, we’re going to speak just a little bit about price range season from Charlestowne Lodges. So we all the time had that momentum with nice company approaching. However we have been like, how can we do extra? And the way can we even improve the profile just a little bit extra of the podcast? Effectively, after 5 years as Chief Income Officer in April of this 12 months, 2024, I moved over into the Chief Advertising Officer position, which has been a implausible transition for me. So simply to again up just a little bit about who I’m, the place I come from. I’ve been with Revinate for 11 years — began with status administration, which is what Revinate was recognized for. Very disruptive within the {industry} once 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 a few of the greatest manufacturers in hospitality for status. 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, 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 ultimately 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 admittedly the jewel of hospitality expertise when it comes to the service, the folks, and in addition the client base that they introduced into Revinate. So we’re very happy with the whole lot that got here with that acquisition. And as I discussed, most likely the spotlight of that in hospitality is that buyer base. So probably the most lovely manufacturers in North America, in the event you can title it, they’re a part of our portfolio. Independents as nicely, as a result of NAVIS centered on the voice channel. And once more, as Revinate has developed from status solely to e mail advertising and marketing CRM to now a full visitor information platform. So what this implies is the whole lot built-in on the again finish when it comes to the entire information inputs down into single view of visitor after which the activation channels of voice, e mail, and messaging, the acquisitions of NAVIS and in addition 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 Officer has been by far most aligned with who I’m as an individual. It’s artistic. It’s enjoyable. And the podcast is simply one other pure extension of that position. So, you might need observed the feel and appear. Every thing’s gotten just a little completely different about Lodge Second since I came to visit on this capability in April. So the workforce stays the identical. Clearly, there’s lots of people that make this occur from the VP and model that I discussed. Now we have a younger girl named Brenna Turpin who makes positive that we’ve the correct company and the correct scripts and all of that. Now we have designers. So there’s a complete workforce behind this factor, however hopefully you’ve loved the brand new branding — the brand new feel and look. 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 an increasing number of. And as I discussed, as we’ve developed, our company 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 understand JC Thompson. He’s the founder and CEO of Pursuance. So it’s actually simply been a implausible experience. And I believe the opposite factor that has developed as we’ve carried out this podcast an increasing number of are the subjects. So we’ve all the time needed to speak about expertise and the way that impacts visitor expertise. Final 12 months, we talked quite a bit about sustainability. We talked quite a bit about AI. However this 12 months, the main focus, it’s been actually fascinating to see a few actually cool tendencies that my company are hitting on each time that we discuss. So the primary one is Whole RevPAR. So an increasing number of the main focus, we are able to see it’s not simply on the room charge and understanding no matter you’ll be able to determine about your company 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 internet working revenue. So NOI, NOI, NOI. And we’ve had a lot of company 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 company that have been on this system, one was Kathleen Cullen, who’s a vice chairman of PTG, which is a consulting arm. So she talked quite a bit concerning the significance of driving direct bookings, taking advertising and marketing spend out of OTA channels and repurposing that so as to drive your individual direct bookings and what an affect 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 folks 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 internet working revenue. So I’m going to play clip now from the podcast with Jennifer Hill, who we additionally talked to at NAVIGATE to speak just a little bit extra about internet working revenue.
Jennifer Hill – 00:09:44: So a very powerful factor round business technique and dealing collectively in that workforce, income, gross sales, advertising and marketing, simply to maintain it easy, is to essentially perceive the total image of market demand and the dynamics so you’ll be able to perceive what’s on the market earlier than you resolve what to go and get, the place you allocate assets. 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 position or accountability. There ought to nonetheless be equal voices. And people folks 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 price range, 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 most important problem is getting all people on board for understanding what metrics are going for use to measure that success. As a result of I believe we’ve had that rigidity in these silos with income, gross sales, advertising and marketing up to now as a result of we’ve completely different targets.
Karen Stephens – 00:10:56: Nice. So talking of internet working revenue, 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 without doubt one of the quickest rising administration firms in america. Joe comes from a very sturdy background. He came to visit to EOS from Starwood Capital, which is clearly one other asset possession firm that owns a ton of accommodations. 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 accommodations. In order that they actually give attention to the entire portfolio and the entire playbook throughout their portfolio. I additionally need to give a shout-out to Brittain Lodges, which is a part of EOS. So EOS, they’ve a relationship and Britain is without doubt one of the manufacturers inside that portfolio. However Patrick Norton and workforce do an amazing job. And if I can provide any plugs to any podcast to return and hearken to out of, Lodge 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 internet working revenue, if you consider how house owners take into consideration internet working revenue 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 discuss just a little bit about price range season. We’re in the midst of summer time as I’m recording this, however as everyone knows, this goes shortly and swiftly the youngsters can be again at school and growth, it’s… It’s price range season for accommodations. So I believe as an {industry}, in the event you’re concerned in price range in any respect, in the event you’re not fascinated about internet working revenue, try to be. As a result of in case your house owners are signing off on the price range, understanding converse their language and understanding calculate that’s going to be tantamount to you getting no matter you want within the price range to make what you are promoting run, whether or not that’s a expertise buy, whether or not that’s a advertising and marketing technique, no matter it is perhaps, in the event you apply the lens of internet working revenue and also you perceive, the business technique playbook, you’re going to be in an ideal place. So I’m going at hand it over to Joe, after which we’ll discuss just a little bit about price range season.
Joe Pettigrew – 00:12:59: For many of us who’re working within the resort, so that’s principally anybody moreover the oldsters who work on the model aspect. However in the event you’re working within the resort 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 resort 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 gotten on Instagram doesn’t matter. What number of emails, open charge, none of that stuff truly issues. The one factor that issues is the NOI. Now, as a way to enhance that NOI, all of these KPIs that I simply type of whittled on all may have some affect in driving that NOI. However the magnitude of what every a type of issues make the most important affect can be completely different for each resort in several areas, relying on which model you’ve gotten and how much amenities you’ve gotten. And so you’ll be able to’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, price range season is a giant deal right here at Revinate. So clearly, we’re a expertise vendor. I’m not going to lie. Our job is to promote our clients one of the best expertise on this planet. And so we’ve a giant give attention to ensuring that our prospects and clients are absolutely 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 lots of instances folks assume, “Oh, you understand, voice channel, isn’t that going away?” And the reply is “No, it isn’t going away.’ And if you consider one of the best manufacturers, after I say probably the most lovely manufacturers in North America and impartial accommodations are clients of Revinate on this platform, that isn’t hyperbole. That’s completely the case. I protect my clients’ proper to be my clients. 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 score. They should perceive flip their reservation employees into salespeople that know convert a reserving. And the way in which that you just convert that reserving is by having the entire information at your fingertips as a way to know what that visitor prefers? strategy and make it possible for the visitor will get the best possible 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 let you know that that drives a ton of income and finally internet working revenue to the optimistic, once more, not hyperbolic. It’s probably the greatest saved secrets and techniques in hospitality in my opinion. And I believe the most important competitor to res gross sales, truly, if I actually give it some thought, is accommodations not understanding that they want it. So we see this quite a bit. When we’ve a model that purchases the platform, we broaden all through that model, and all of their accommodations ultimately take it as a result of it drives a lot income. I imply, the common keep worth on a voice reserving is 2 to 4 instances what occurs on a web-based reserving. So with the ability to perceive leverage that’s extremely necessary. And with the ability to perceive and have the instruments in entrance of you to make it possible for 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 sturdy name heart workforce. So I discussed Forbes 5-Star. We’re the service that picks up when our resort clients log out for the afternoon, and their reservation groups go residence. These calls roll into RezForce. In fact, in the event you’re dialing in as a buyer from the surface, you’d by no means know that you just’re not chatting with the resort 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 go with flying colours. So you’ll be able to belief that piece of enterprise with us. My subsequent visitor I needed to focus on is JC Thompson. So JC Thompson is the founder and CEO of Pursuance. And we’ve lots of mutual clients. Should you hearken to the total episode, you’ll hear me say that a few instances. So we’ve lots of mutual clients. And JC has actually come up within the {industry} to assist firms perceive practice and encourage brokers to be one of the best 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’ve to get again to. I believe in the event you and I had this dialog seven years in the past, I believe we might perhaps have been speaking about, is the voice component, is somebody calling a resort or a vacation spot going to go away altogether? Effectively, I believe that’s been confirmed that’s not true. There are a excessive proportion of individuals which are 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 correct alternative? Is that this a very good use of my cash? And I don’t assume that essentially correlates with age. For some time, we’re like, oh, nicely, anybody beneath 30, they’re simply going to guide it on-line. Effectively, 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 price range season, which is so close to and expensive to all of our hearts. And that’s Johnathan Capps, who’s the Chief Income Officer of Charlestowne Lodges. So Charlestowne, additionally a buyer of Revinate, who we’re very excited to have on the total platform. And right here you’ll be able to hear Jonathan speak about his strategy to price range season, which is close to and expensive to all of us. So. I’ll depart you with that after which come again with some closing ideas.
Jonathan Cadds – 00:19:04: You understand, we’ve had some cool stuff confide in the expertise 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 can be, it’d push any new initiative down. Lots of instances the brand new initiatives are in a way of, I believe tech-related lately, they really feel extra of that within the house, is that I believe two issues. I believe in lots of instances in tech house, it’s laborious to quantify the worth in a one-year image. So doing it within the strategy of a budgeting course of isn’t precisely the large promote, proper? As a result of you want to present a two to three-year affect. So I believe the factor for me is to not get that reduce is it could take just a little additional work. It might take doing a one-year price range and a three-year professional forma and saying, “Effectively, right here’s how that appears to affect 12 months two and 12 months three.” As a result of I don’t assume lots 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 swiftly. 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 affect. It places us on an equal footing or places us a leg up. It supplies worth to the company. It’s not all the time a labor substitute or one thing to that impact or an expense financial savings. It’d assist 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 affect 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 making an attempt some actually thrilling stuff this 12 months. As I discussed, I’m very excited to be on this position as Chief Advertising Officer. I’ve a stellar workforce, and we’re able to push the envelope. So please hold your eyes peeled so you’ll be able to see how we’re approaching price range season and ensuring, once more, that our clients and prospects are absolutely ready and geared up to sort out this season with as a lot assist and help as we are able to present. And we’re going to have just a little enjoyable. So I’ll depart it there and also you’ll simply should 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 and products, in the event you haven’t checked us out these days, I might encourage you to do that. So we aren’t your father’s status firm anymore. We’re a full visitor information platform and we’re all the time blissful to offer you a tour of what we’ve. So the entire episodes that I talked about at present, so you’ll be able to see the total 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, in the event you’d prefer to be a visitor on the podcast, we’d love to listen to from you. So simply drop me a line, [email protected], 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 Lodge Second podcast. Thanks.
Outro 00:22:36: Thanks for becoming a member of us on this episode of Lodge Second by Revinate. Our group of hoteliers is rising each week, and every visitor we converse to is tackling {industry} challenges with the innovation and adaptability that our {industry} calls for. Should you loved at present’s episode, don’t neglect to subscribe, charge, and depart a evaluation. And in the event you’re listening on YouTube, please just like the video and subscribe for extra content material. For extra data, head to revinate.com/hotelmomentpodcast. Till subsequent time, hold innovating.