After having worked for five years in the Le Bristol Palace financial department, Arnaud Fourmentin, who graduated in 2007 from Vatel Paris, will tell us about Yield Touch, a company specialized in Yield Management, of which he is the CEO.
Hello Arnaud. So, what kind of opportunities have you had since you graduated from Vatel?
In my final internship, I was lucky enough to be able to work in the Bristol financial department. I was at the origin of this opportunity, as I had put together an intelligent professional network that included, in particular, a person from the Bristol Human Resources department. To work in places like this, you have to have a good network, but above all, a good reputation. And that’s something that Vatel teaches you as soon as you start school.
Can you tell us a bit about those five years you spent at the Bristol?
The person who headed accounts payable, cash reserves as well as immobilizations linked to hotel improvement,s had to leave his job for personal reasons just a week after I started. So I took over his missions, I worked hard to be recognized until I was officially appointed to his job as a Supervisor after a year and a half. I led a team of three or four people according to the time of the year.
This was an excellent experience, even though the days were long and stressful, but the feeling of being a part of such a huge family made me really proud. Since then, the person who had left was able to come back, so I said to myself that now was the time to embark on a new adventure.
Could you give us your definition of Yield Management and present Yield Touch to us?
To put it simply, Yield means selling at the right price, to the right customer, at the right time, in order to optimize hotel revenue. Yield Touch is the result of an association between a former Parisian Operations Manager who managed several hotels in the capital and me.
Our customers are independent Parisian three to four-star hotels. We outsource their yield tasks and coach their employees to federate them to work towards the same goal. I go into the hotels I manage every day to speak with staff members and then I do the yield work at home, though I am always in contact with the front desk employees of the hotels I work with.
What are you short, mid and long-term projects?
I’d like to sign more new contracts quickly to be able to hire another person. But you must remember that I founded this company less than six months ago, and I’ll need a bit of time before that. I think that it’s important and necessary to create jobs in this difficult economic environment.
What made you want to attend Vatel?
Ever since I was little, when my family went on vacation, we always stayed in hotels. I like this atmosphere as well as the fact that each hotel is different, except for hotel chains of course. And enrolling in a school with a good reputation was important for me. For quite a while I hesitated between Lausanne and Vatel, but because Vatel had the same excellent reputation and was nearer, I decided to stay in Paris.
Any special memory you’d like to tell us?
My first internship with my best friend, Cedric Sahuc, is a very good memory. We spent four months at the Mercure Courchevel 1850 during the winter vacation season. Of course that was hard, because we worked without a break, almost 16 hours a day. But we learned so much that we don’t regret anything at all. The manager trusted us completely and after not even a month and a half, he let us make some decisions directly.