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Noesis & Ngage conclude masterclass on revenue mgmt for hotels & resorts
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Wednesday, 12 August, 2020, 16 : 00 PM [IST]
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Our Bureau, Mumbai
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Noesis Capital Advisors and Ngage Hospitality have hosted a virtual workshop and Masterclass series on July 29, 2020. The session began with panel discussion on the topic “Revenue Management - Recovery Planning in Times of Demand Disruption during Pandemic” followed by the Masterclass on “Demand Generation – The Right Way”.
This Masterclass was specifically designed for the hospitality sector – hotels, resorts and the ‘decision-makers’ to understand how revenue management can help their business to sustain in the new normal. Whereas the workshop covered a panel discussion which had panelists from the hotel brands, OTAs, technology providers. The panel discussion was focussed on how revenue management can be used towards the recovery planning of a hotel during these disrupting times.
To support the concept of revenue management, Devinder from Lemon Tree Hotels, said, “Covid situation is just like a season which has come to hospitality but the segmentation has been reduced. Revenue management can never be obsolete.”
C S Ramachandran stated, “A revenue manager has to act as an asset optimiser. In other words, he/she should be a lever which is used to lift the weight”. Taking the discussion further, Parikshit Choudhury, added, “If you take appropriate actions, travelling is completely safe in these times as well.”
Various other topics were covered during the workshop wherein Kamal Kishore, revenue management expert, RedSKY Hospitality, shared his experience on the demand generation for the hotel industry. He commented, “The air bubble created between different countries is leading to opening up of hotels. China is already doing 60% occupancy followed by 47% in the US, and 35% in Europe. In India, few hotels around the airport are picking up in terms of business in Mumbai and Delhi.”
On this occasion, Nandivardhan Jain, CEO, Noesis Capital Advisors, mentioned, “Their firm is currently working on hotel brand conversion assignment with more than 100+ independent hotel owners. For these owners, revenue management is one of the most important services what they are looking from branded hotel chains.” He stated that quite a few hotels are investing this time in reworking their SOPs in each department for better efficiencies in the business.
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