At the end of this program, participants will be able to:
- Demonstrate a good understanding of hotel revenue management and describe its benefits.
- Identify the challenges and shortfalls of using traditional methods and tools in measuring and managing revenue and performance.
- Describe the key components and conditions in hotel revenue management and the importance of a systematic revenue management process.
- Define and calculate RevPar, as a key measurement in optimizing room revenue
- Create and applying key steps in forecasting based on a systematic revenue management methodology in measuring its accuracy, in its importance to the sales functionality.
- Apply restriction controls in managing inventory and availability based on demand patterns.
- Understand and apply effective pricing strategies during low demand, shoulder and peak periods to optimize revenue, including distribution channels.
- Implement effective selling strategies and tactics in hotel revenue management.
- Understand the key indicators and importance of a market share report as a benchmark for performance.
- Introduction to Hotel Revenue Management
- Revenue Optimization methodology and processes
- Key components and conditions in successful hotel revenue management
- Key measurement indicator in optimizing room revenue, restaurant and catering
- Forecasting – Steps, Measurements and Accuracy processes in Revenue Management
- Restriction, Inventory and Control Management in managing Availability
- Developing effective Pricing Strategies and how to manage pricing through distribution channel
- Effective Sell and Revenue Strategies and tactics for revenue optimization driven organization
- Understand the key indicators and importance of a market share report as a benchmark for performance
ESSENTIALS OF HOTEL REVENUE MANAGEMENT
Hospitality managers are faced with the daily daunting task of making key decisions in setting the appropriate occupancy and rates in order to maximize and optimize the total revenue for their respective hotels.
In this 2 days workshop, participants will be introduced to the essential and fundamental of revenue management methodologies, concepts, processes and most importantly, the practical applications of the tools and strategies discussed and learnt from the workshop.
WHO SHOULD ATTEND
General Managers, Front Office Associates, Revenue Managers, Sales And Marketing Professionals, Other Hospitality Managers esponsible for the Revenue And Financial Performance of their hotels or organizations.
WE PROVIDE IN COMPANY TRAINING
Standard or customised courses available. For further enquiries, please click HERE.