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LIHM partners with Cesim for workshop on 'Strategic Thinking in Revenue Mgmt’
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Monday, 23 October, 2023, 14 : 00 PM [IST]
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Our Bureau, Mumbai
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Lexicon Institute of Hotel Management (Lexicon IHM), a leading hotel management institute, has announced collaboration with Cesim Business Simulations to organise a workshop on "Strategic Thinking in Revenue Management," - a simulation-based learning experience that promises to empower hospitality industry leaders. The workshop will be held on Oct 25, 2023.
Revenue management, an indispensable skill in today's dynamic hospitality industry, is the linchpin for growth and profitability. It demands adaptability and strategic thinking from general managers and leadership teams in the face of fluctuating demands and intense competition. It seamlessly blends the art and science of predicting consumer demand and behaviour. The impact of revenue management has been nothing short of revolutionary, reshaping the hospitality landscape.
“Mastering revenue management is not just a competitive advantage; it's the foundation of success in the hospitality industry. This collaboration exemplifies our dedication to providing professionals with the tools and insights required to excel in revenue management, ensuring they can steer their establishments towards sustainable success,” said Nasir Shaikh, group CEO, The Lexicon Group of Institutes, EduCrack, &EasyRecruit+.
The workshop empowers the industry senior leaders with a deep understanding of revenue management principles in the dynamic hospitality sector. They will master strategies like demand forecasting, market segmentation, and dynamic pricing for revenue optimisation. Key performance indicators and metrics will be explored for effective performance analysis. Crucially, attendees will apply this knowledge to real-time hotel scenarios, improving occupancy rates and RevPAR (Revenue per Available Room), with a focus on achieving sustainable growth.
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