NOESIS CAPITAL ADVISORS & NGAGE HOSPITALITY CONCLUDES ITS MASTERCLASS ON ‘REVENUE MANAGEMENT FOR HOTELS & RESORTS’

Noesis Capital Advisors and Ngage Hospitality successfully hosted virtual workshop & Masterclass series on July 29th, 2020. The session began with the 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 Master Class 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 focused 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, Mr. 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.”

Mr. C S Ramachandran added to it, “A revenue manager has to act as an asset optimizer. In other words, he/she should be a lever which is used to lift the weight”.  Taking the discussion further Mr. Parikshit Choudhury, added, “If you take appropriate actions, traveling is completely safe in these times as well.”

Various other topics were covered during the workshop wherein Mr. 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 Mr. Nandivardhan Jain, CEO Noesis Capital Advisors mentioned that “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 further mentioned quite a few hotels are investing this time in reworking their SOP’s in each department for better efficiencies in the business”.

The entire workshop focused on helping our hotel managers, owners, etc. to prepare them to capture the demand post the market re-opens. The experts shared their experiences and how they feel the market will react in this new normal for our independent hotel owners to understand the way forward.  

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