Editorial Board   

Mr. Narasimhan

S. Lakshmi Narasimhan

Founder, Ignite Insight LLC

S Lakshmi Narasimhan is the Founder of Ignite Insight LLC a New York City based consultancy, which specializes in Group Executive Training, Coaching and Consulting. Mr. Narasimhan  teaches Financial Management related courses during Spring and Fall semesters as Adjunct Assistant Professor at the New York University, Jonathan M Tisch Center for Hospitality.

Prior to founding his company, Mr. Narasimhan was the Vice President Finance of an award-winning Hong Kong headquartered luxury hotel chain - Shangri-La Hotels & Resorts. He has more than 25 years of experience in the hospitality industry (14 of them in a senior corporate level) and has held diverse portfolios from a hotel Financial Controller to a group level Human Resources position, head of Corporate Internal Audit and head of Corporate Financial Systems. His career is epitomized by new and challenging roles.

Mr. Narasimhan  has designed and developed a series of 2-Day Finance Courses titled "Optimizing Hotel Profits" for non-financial managers in the hospitality industry, which he delivers personally. The unique aspects of the course presentations are jargon free, simplified financial concepts, use of visual teaching methods through color, shapes and movement to reinforce and cement learning, practical exercises in budgeting and financial analysis and many more. Read testimonials about his courses.  His online academy Profits Master Class offers courses that are self-paced, easy to understand in an inter-active, blended learning environment.

Mr. Narasimhan's special interest is in the gamification of instruction. He has developed a complete card game (with a 75-page Player Manual) which teaches the principles of revenue yield management and related topics with all the benefits of a game environment. The game makes you the Revenue Manager of a fictitious hotel allowing you to take all the decisions that a typical Revenue Manager of a hotel takes to optimize revenue yield. He also blogs about hotel, restaurant revenue management and profitability.

Mr. Narasimhan published his first book: Discover the Genius in the Mirror - You are an Einstein waiting to be discovered - an exercise book on how to discover your own genius through introspection. It is available on www.amazon.com and www.barnesandnoble.com both in print as well Kindle/Nook formats. His free monthly newsletter Voyages of Discovery is dedicated to empowering individuals discover the genius in them.

Please visit http://www.ignite-insight.biz for more information.

Linkedin Profile: www.linkedin.com/in/slakshminarasimhan/

Mr. Narasimhan can be contacted at +1 201-253-5000 or narasimhan@ignite-insight.biz

Coming up in October 2020...

Revenue Management: Maximizing Profit

Hotel Revenue Management continues to evolve at a blistering pace. Driven by technological innovation and new distribution channels, there are some dynamic opportunities for expansion in this fast-growing field. The technology is primarily designed to help revenue managers further refine their operations and pricing models to maximize hotel profit. For example, hotels can't be all things to all people, so a key strategy is to precisely identify their target audience. By employing geo-targeting techniques and analyzing behavior such as previous bookings, on-property purchases and online shopping practices, there is an increased capability to define guest demographics. By segmenting customers in more specific ways, hotels are able to create more personalized experiences which, in turn, allow managers to optimize their room rates. It is also an effective way to fulfill the unique needs and preferences of the individual. Another methodology is to consistently monitor the competition's pricing strategies. There are software tools that analyze a competitor's current rates, and then allow a hotel to make its own pricing adjustments. It is also a useful means to conduct forecasting models. Other technologies that are being integrated into a revenue manager's toolkit include Artificial Intelligence in the form of automated algorithms, and Voice Recognition (VR) for data inquiries, rate changes, and booking behavior. Predictive and analytic software programs are also being leveraged to provide more forward-looking data, instead of the usual reliance on historical performance. These metrics allow managers to be more proactive - rather than reactive - with their revenue strategy. The October issue of the Hotel Business Review will examine these developments and report on how some leading hotels are executing their revenue management strategies.