Fundamentals of Revenue Management
Even if you are not a revenue manager, you know there is a critical need to understand the fundamental elements of good revenue management practice. It is sometimes thought of as a “black box” that only super-smart revenue managers can understand, but in this one day course, we demystify the core elements so you can have a better understanding of the principles and can bring it into your daily work.
Date - TBA
Venue - Virtual Classroom
What You Will Learn
This one day workshop enables revenue influencers to understand:
The key metrics and levers that drive performance.
Why a deeper understanding of who your customer is and how they book can increase the chances of them booking you over your competition.
Your impact on business development decisions based on a solid foundation of measuring, analysing, pricing and distributing your product.
Is This Course For You?
This course is ideal for those who might have had little or no exposure to revenue management but want to develop their skills in this area. All team members whose role impacts revenue generation of the hotel and conference and events business, ie sales managers, marketing coordinators, reservations managers etc.
(If you are a senior leader in the business we suggest you attend the Crucial Commercial Skills Course instead, as this will give you a grounding in revenue management and as well as a business strategy and positioning).
Revenue Metrics and Data Analysis - What to look for and how to analyse your hotel rooms performance effectively.
Market Segmentation & Forecasting - Understanding the importance of effective segmentation to drive accurate forecasting.
Pricing and Yielding - How you can make the most of these two levers to drive profit.
Inventory and Demand Management - Taking the right business at the right time.
Understanding OTA’s and Distribution - An introduction in how distribution channels can work for you.