Author
Author

Timothy R. Wiersma

Principal | Revenue Generation, LLC.

Timothy R. Wiersma

With more than two decades of experience in the hospitality industry, Tim Wiersma is recognized as a leader in revenue management. Specializing in property and portfolio revenue management, sales, marketing, distressed- asset turnaround, and asset assessment, he consistently delivers results for properties around the world.

Before founding Revenue Generation LLC, Tim was a vice president with Host Hotels and Resorts, a Fortune 500 company and the largest premiere real estate hospitality company in the world. He has also held a vice president position at TPG Hospitality, a private equity firm with over 60 full-service hotels representing all major markets and brands, and he was vice president Red Roof Group where he oversaw the Revenue Strategy of over 650 economy hotels. He has held other corporate-level positions with Starwood Hotels and Resorts and Canadian Hotel Income Properties and has been a key advisor for Marriott International in sales and revenue management.

Over the course of his career, Tim has worked with all major brands and independent properties and has developed top line business intelligence tools, dashboards, and business configurations to assist hotels in driving optimal results. He thrives on finding innovative ways to turn around underperforming assets while motivating sales and revenue teams.

Tim holds a BA in Business Administration and Finance. He is an active member of HSMAI (Hospitality Sales and Marketing Association International) and is currently serving on its board as chair of the Revenue Optimization advisory board.

In his spare time, Tim enjoys spending time with family, friends and flying a Cessna 172.

Insights by Timothy R. Wiersma (5)

We’re out of the rut. Now what?

In the pre-COVID-19 era, some revenue managers were indeed stuck in the rut. Who were they? Revenue managers who acted as mere “OTA Relationship Managers.” Or as comp-set pricing strategy plagiarists.

A Post-Crisis Top-3 Revenue Management Action Plan

Here are the three main action steps in revenue management in the post-crisis period: 1. Break down the silos! The post-crisis requires a completely new approach to revenue management (RM), not going back to the old ways of doing RM.

Has forecasting become a lost art?

It is very important for hotels to maintain a detailed forecast for both the short term (more frequent) and longer-term (outside 3 months). If your property has an automated system that provides demand information, it will likely only be reliable for the short term.

The First Rule of Coronavirus: Don’t Panic

Coronavirus may seem like it's come out of nowhere, but hospitality revenue optimization professionals have been here before. From Sept. 11 to SARS to one hurricane season after another, they have not just survived plenty of crisis events but thrived in the aftermath.

Today’s Revenue Management – Is There an App for That?

Wouldn't it be great if there was an app that gave us all the answers on strategy and what to do next? We are at a very interesting point in the economic cycle where any decision we make could translate into a home run or a potential meltdown.
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