Recast: Modern and focused commercial strategy — what does it look like? | with Lori Kiel

In this recast episode of Hotel Moment, we revisit an insightful conversation between Karen Stephens and Lori Kiel, whose roles have evolved since the original recording - Karen is now Chief Marketing Officer at Revinate, and Lori has taken on the role of Senior Vice President of Revenue Management at Pyramid Global Hospitality.

Together, they explore:

• Lori's journey from reservations to becoming a champion of commercial strategy
• The importance of breaking down silos between sales, revenue management, and marketing
• How technology and data are reshaping the hospitality landscape
• The challenges and opportunities in digital transformation
• The power of vulnerability and continuous learning in leadership
• Why a commercial-first mindset is crucial for modern hospitality success

Discover how Lori's innovative approach to commercial strategy and technology adoption is helping hotels thrive in an increasingly competitive market.

Note: This episode was originally recorded in 2023. Both Karen and Lori have since moved into new roles, but their insights on commercial strategy and hospitality management remain highly relevant to today's industry challenges.

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Connect with Lori Kiel here:

• LinkedIn
• Pyramid Global Hospitality

Connect with Karen here:

• LinkedIn
• Revinate

Follow the podcast here:

• LinkedIn

Episode Highlights:
[01:13] Evolution of commercial strategy - Lori shares her journey from working in reservations to becoming a commercial strategy leader. Starting in the 1990s when rates were listed in brochure racks, she witnessed and adapted to the industry's digital transformation, including the rise of OTAs and revenue management as a distinct discipline.
[07:48] Breaking down silos - Lori discusses how she pioneered the integration of sales, revenue management, and marketing under one umbrella at Kessler Collection. This approach eliminated traditional departmental conflicts and aligned everyone toward common goals, creating a more efficient and effective commercial operation.

[15:45] Technology and data innovation - The conversation explores how hotels can leverage modern technology while maintaining the human touch. Lori shares insights on using customer data platforms, beacon technology, and mobile data to better understand and serve guests while respecting privacy concerns.
[27:19] Commercial-first mindset - Lori explains her "three-lane highway" analogy for commercial strategy, where sales, revenue management, and marketing each have their lane but can merge and collaborate effectively. This approach ensures all departments work together toward shared objectives while maintaining their distinct expertise.

[34:46] Leadership and vulnerability - The episode concludes with Lori's powerful message about the importance of vulnerability in leadership, especially when dealing with rapidly changing technology and market conditions. She emphasizes that acknowledging what you don't know is crucial for growth and success in modern hospitality.