As a “data enthusiast” who regards herself as innovative, enterprising and acutely curious, Nicole Young serves as corporate director of revenue management in the Los Angeles office of Rosewood Hotel Group. She joined the company in February 2017, and in her first year she led an effort to increase the skill and talent profile of the revenue discipline, and repositioned it within the organization. As a result, nine new team members were brought on board, including the beginnings of a sales analytics team. Hong Kong-based Rosewood’s global portfolio encompasses 55 hotels in 18 countries, with nearly 40 new hotels under development. Young, 39, has expertise in the revenue strategies of luxury and lifestyle brands for hotels, gaming and F&B arenas, and is a former co-chairman of HSMAI’s Revenue Optimization Conference.
Young is one of 20 rising stars (all 40 and under) HOTELS interviewed for our May feature. All shared their insights about their lives in the business and thoughts about some of today’s challenges and opportunities. In a Wall Street Journal-sponsored series, read Young’s responses to our questions and click here to link to the full list of interviews with HOTELS 20 Next-Gen hospitality leaders.
Contributed by Laura Koss-Feder
HOTELS: Are we seeing new kinds of job opportunities arising in the hospitality industry for younger professionals?
Nicole Young: There has been an evolution to a kind of general business acumen being sought out in the industry, in addition to looking for those with just hotel experience. Companies are seeking to hire more people from outside the industry, and that is creating new opportunities. In revenue management, for example, some companies have started to look for engineers – who have skills that can be useful.
H: How prevalent is the glass ceiling and old boys network in this industry, and how have you dealt with this?
NY: I’m no stranger to the glass ceiling and old boys network, and my past experiences have made me more savvy when it comes to handling this. I have learned from past work scenarios that I needed to voice my opinion and be more vocal in general to be included in executive-level meetings. I have had to substantiate my opinions with a lot of facts and reasons, more than some of my male peers. I am fortunate to be at Rosewood, which has a very good corporate culture.
H: What have you noticed are the needs of the next-gen leaders?
NY: These professionals need to find work that is meaningful to them. It needs to be fulfilling and serve more of a personal mission in life for them.
Is this the same for you?
H: NY: Very much so. I am on the cusp of a changing generation. I am now more socially aware of what is going on around me. I have served on several boards at HSMAI and am trying to advocate for stronger career pathing for those in the industry.
H: What do you care about most when it comes to your career in this industry?
NY: What is most important to me is that the work that I do ends up benefiting people that we serve at our company. For example, if I do my job well at Rosewood, the result is that we have healthy independent hotels and good, happy ownership groups. This also means that these hotels, in turn, are providing stable employment. And, this leads to satisfied employees who will provide a good experience for guests. Ultimately, when you do your job well in this business, you are contributing in some way to guests having a successful business meeting or a great family experience in one of your hotels that they will remember for a lifetime. It’s a very rewarding feeling, and the reason why I got into this industry – to help make people feel good about their hotel experiences. I also love working with numbers and the human behavior that is illustrated through the use of data.
H: To what do you most attribute your success and growth?
NY: I have been very fortunate to have leaders around me who have listened to me and provided me with tools to help me achieve my goals. I have been very lucky.
H: Who inspires you?
NY: Caroline MacDonald, who is Rosewood’s vice president of sales and marketing, comes to mind right away. She has a diverse set of skills that allows her to successfully help lead an organization at the height of luxury. She inspires me because she does her job with positivity and competency. For instance, we can go into a meeting where everyone has different opinions or come at something from different disciplines, and she can get everyone to rally together and cooperate.
H: Who inspires you from outside of the hospitality industry?
NY: Janet Yellen (who served as chair of the Board of Governors of the U.S. Federal Reserve System) is a big inspiration to me. She was influential, powerful and not afraid to fight battles.
H: What are some things that you try to do every day or most days?
NY: I always try to network, even if it is just a few hours a week. It is a good way to connect with people and stay on top of what is going on in our industry. I also do a tremendous amount of reading. I read about the news in our industry and read The Economist and Forbes like a fiend. It is important to be aware of new and growing economic trends for my work, and it keeps me connected to what is going on around me. And I like a little quiet time each day with my bulldog puppy.
H: What do you predict about your discipline in the coming year?
NY: You will see markets globally that haven’t been exposed to revenue management now utilizing this in their operations, in larger South American city centers such as Mexico City and Rio and in parts of Asia such as China and Thailand. We also will see revenue management in general being used more in other revenue streams, such as F&B outlets and spas.