How to quiet the noise to hear your data speaking | with Bryson Koehler
October 16, 2024
In this milestone 100th episode of Hotel Moment, Karen Stephens is joined once again by Bryson Koehler, Chief Executive Officer at Revinate. Together, they explore how data is revolutionizing the hospitality industry. Bryson brings a wealth of insights, not only from his extensive experience at Revinate but also from his time at Intercontinental Hotels Group, where he played a pivotal role in pioneering data-driven decision-making in revenue and guest technology. The conversation highlights the evolution of Revinate, from its early days in guest feedback management to its current position as a leading Customer Data Platform (CDP) that powers direct bookings. As they celebrate this special episode, Bryson shares valuable advice on how hotels can optimize direct contributions through smarter use of guest data and much more. Tune in to hear all about how hotels can maximize their direct contribution through better use of guest data, and much more besides.
In this special 100th episode, Bryson Koehler returns to the Hotel Moment podcast for a deep dive into the transformative power of data in hospitality. In this insightful conversation with host Karen Stephens, Revinate’s CEO draws on his extensive experience, including his pivotal role in Revinate’s growth and his leadership at IHG, to highlight how data is reshaping direct bookings and enhancing guest experiences.
Key topics covered include:
- The evolution of data-driven guest feedback and its impact on pricing strategies.
- The importance of Customer Data Platforms (CDPs) in unifying data for actionable outcomes.
- Overcoming industry challenges like rising costs and stagnant occupancy through direct booking strategies.
- Leveraging voice channels, AI, and machine learning to increase profitability and optimize guest interactions.
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Episode Highlights:
[03:58] Data and Bryson’s beginnings at IHG - Bryson joins Karen on the podcast to discuss his own beginnings at Revinate and his time at IHG. Bryson emphasizes the critical role of data in the hospitality industry, particularly in improving guest experiences and driving profitability. He recalls that during his time at IHG, he was tasked with work on data-driven decision-making, integrating machine learning to enhance pricing models. He discusses how guest feedback can be used to adjust pricing strategies based on guest satisfaction and mentions that many hotels still struggle with disconnected data systems. The key, Bryson notes, is operationalizing data to create a 360-degree view of the guest, allowing hotels to personalize interactions and optimize marketing and pricing decisions in real time.
[10:00] The challenge of making direct bookings profitable - Bryson discusses Revinate's mission to become a direct bookings platform, emphasizing the importance of maximizing direct revenue for hotels. He argues that Revinate isn't just a software provider but a partner that helps hotels capture the right guests through direct channels. By leveraging rich data and advanced analytics, Revinate enables hotels to fill rooms at the right rate, reduce dependency on third-party booking platforms, and enhance guest profitability through upselling and personalized offers. Bryson sees this holistic approach as the future of hotel revenue management.
[18:16] The flywheel effect - Bryson talks about the "flywheel effect" created by Revinate’s platform, where each interaction with a guest—whether through email, voice, or messaging—feeds data back into the system, continuously refining guest profiles. This loop helps drive conversions higher by tailoring marketing and sales efforts based on previous guest behavior and preferences. He illustrates how reservation agents, for example, can access enriched guest profiles that provide valuable information about past stays and preferences, leading to better service and upselling opportunities.
Chapters:
00:00 - Intro
02:04 - Revinate’s early days
03:58 - The power of data
07:00 - From CRM to CDP
09:12 - Driving direct bookings and profitability
11:00 - Rising costs and growing challenges for owners
16:38 - The profitability puzzle
20:37 - Shifting from third-party reliance
23:17 - Future investments and new data capabilities
26:30 - New Revinate guest app
28:26 - Outro
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Previous guests include: Shannon Knapp, CEO of Leading Hotels of the World (LHW), Patrick Norton of Brittain Resorts & Hotels, Shawn Jereb of Montage International, Carlo Del Mistro, Chief Digital Officer of Ennismore, Jason Pirock of Springboard Hospitality, and many more.
Are you a hospitality industry leader with insights to share? We're always looking for innovative voices to join our conversation about the future of hospitality technology.
If you'd like to be a guest on an upcoming episode of Hotel Moment, we'd love to hear from you! Our podcast reaches thousands of hospitality professionals worldwide, and we're particularly interested in perspectives on:
- Innovation in hospitality technology
- Guest experience transformation
- Revenue optimization strategies
- Emerging industry trends
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