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Michael Wolf thought his career would be in government. He spent every summer in Washington, DC, and wanted the FBI. Then Bain came to campus, and he took a detour that turned into 15 years of startups.
Today he is the CEO of ResortPass, the world's largest marketplace focused on getting hotels more revenue from day guests. The idea starts with perishable inventory: hotels have mastered revenue management for the room, but an empty pool, fitness center or spa today is revenue that never comes back. ResortPass now works with nearly 3,000 hotels, sent a million people to hotels this past summer, and about 40 percent of its hotel partners are independents. More than 95 percent had never offered day access before.
In this episode, Michael explains why the day guest is the same guest who books an overnight room, just for a different part of the stay. We talk about why ResortPass often performs best when a hotel is at high occupancy, how the company built its own system of record because a PMS has no place for a day guest, and why ancillary revenue feels like a win here and a penalty in the airline world.
He also shares how premium hotels use ResortPass to test new products, why the biggest results come from hotels with an internal champion, and his contrarian view on how little innovation there is in an industry this size.
If you run a property with a pool, a spa or a gym that sits quiet some days, this one is for you.
This Week’s Guest:
Michael Wolf - CEO of ResortPass
LinkedIn: https://www.linkedin.com/in/wolfm/
Your Host:
Zach Busekrus - Journey
LinkedIn: https://www.linkedin.com/in/zachbusekrus/
Instagram: https://www.instagram.com/behindthestays/
