Puneet Mahindroo — Consulting Group Director of Revenue Management and Distribution at Rev-Mantra — discusses the changes in responsibilities for in the hospitality industry during the pandemic.
He highlights how, initially, the focus was on revenue optimization. But the pandemic led to diversification as hospitality businesses sought alternative means to monetize and cover cash flow requirements. Thus, there was a significant emphasis on investing in technology to increase efficiency and explore new opportunities for generating cash flow and long-term growth.
The timing of regional openings and lockdowns influenced the need for businesses to adapt and set themselves up for success in a changing landscape.
The goal was to minimize distribution costs and maximize EBITDA (earnings before interest, taxes, depreciation, and amortization) or return on investment.
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Yeah, so it’s been an interesting time, you know, especially for a startup in the Consulting World, which, uh, kind of depends on, you know, Hospitality businesses, uh, so initially, the consultation was all about Revenue optimization. And then during the pandemic, we saw it, uh, kind of transform into a lot more diversification because Hospitality businesses were looking at alternate means to kind of monetize their business, just to cover their cash flow requirements and, if possible, make some profit, right?
At the same time, what we saw is a huge uh, focus towards investments in technology to bring in efficiencies and to find, uh, new opportunities that they could kind of find as a natural segue towards their usual operating models. That they could easily transform into to generate new lines of businesses, new lines to generate cash flow, and something that could be even long term in the future.
So it was an interesting time to see also different regions opening at different times in different states of lockdowns or not lockdowns, also had a huge influence. So we are Glo, we are a global consulting firm, so we are not, are we agnostic to the regions we operate in. And, I think, uh, we saw that the regions that were opening much faster had a more need to kind of set themselves up for success as they, uh, kind of, I don’t like to use the term “new normal,” but, uh, as they looked at diversifying their business model to minimize the cost of distribution, maximize their EBITDA or the return on investment.
Meet the Speaker
Consulting Group Director, Revenue Management and Distribution
Rev-Mantra Pte. Ltd.