Description

In order to make the hospitality operations profitable, it is important for its managers to understand the key concepts of revenue management and its selective applications of its most effective strategies and tactics. This module comprehensively covers the entire field including both quantity and priced based revenue management. It also significantly covers a range of topics about marketing, accounts, operations management and finances that are required to devise revenue management strategies, that will make your operations profitable.

Who Should take this module ?

• You are already working in a hotel and specially in front office or marketing department and  want to make your organisation more profitable.
• You are a lodging industry entrepreneur and want to learn tactics to increase your business revenue and profits.

Content/ Syllabus Overview

• Concept of revenue management and how it evolved.
• When to use revenue management.
• Understanding strategic and tactical revenue management and understand its distinction.
• Judge a property's performance using internal and external measures.
• Determining the effectiveness of revenue management tactics and strategies.
• Understanding how forecasting demand and room availability drives tactical revenue management.
• Implementing tactical rate management and stay controls to maximize hospitality revenue.
• Using capacity management for revenue management.
• Use displacement analysis.
• Using revenue management to create demand and creating marketing strategies for hotel.
• Revenue management efforts at strategic level with reference to strategic pricing and revenue streams management.
• Manage distribution channels for revenue management.
• Automated revenue management systems.