Fundamentals of Hotel Revenue Management in Hospitality Industry
Details
- Learn Fundamentals of Revenue Management,
- Pricing Pillars, Concepts and Dangers,
- Analyze Inventory Management
- What are typical revenue management decisions you would make.
- What data is required to make such decision.
Outline
Revenue Management Fundamentals
- Introduction and Responsibility
- Revenue Management Myths and Profit Fallacy
- Revenue Management Definition & Meaning
- Revenue Management Premise and Assumptions
- Common Revenue Management Decisions at hotels
- Terms used in Hospitality in relation to Revenue Management
Revenue Management Process
- Steps for Revenue Management
- Segmentation of target customer and understand their profiles
- Balancing the Segment of customers
- Understanding Demand
- Forecasting the Demand
- Identify Competitors & SWOT Analysis
- Meaning of Price and Seller & buyer Prospective price
- How do we determine Prices
- Pricing Factors and Strategic Pricing
- Differential Pricing’
- Pricing Concepts - Dangers and Restrictions
Business Segmentation
- Distribution and Channel Management
- Inventory management
- Report which we may need for revenue management
- Some Sample Revenue management Reports
- Revenue Management Challenges
FOR WHOM:
Hotel Managers, Front Office Staff, Reservation Staff, Sales Professionals
TRAINING METHODOLOGY
The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.
Speaker/s
Special Offer
Schedules
| Tue, Wed, Thu, Fri | 10:00 AM — 04:00 PM |
| No. of Days: | 4 |
Alpha Partners is a reputable firm of Training and Management Consultants with many years of corporate training experience in Finance, Accounting, Auditing, Banking, Management, Information Technology, Oil and Gas Sector, Security, Engineering, Public Relations, Secretarial Studies, Leadership, Marketing and other fields of human endeavour.
We are one of the leading players in the profession. Our firm, a multi-disciplinary one with highly talented, experienced and dedicated partners and staff who have experiences in different facets of working life was established in 1996 and has branches in Lagos, Enugu and Awka.
We offer a wide range of professional services, which covers audits, accounting, finance, taxation, ICT, security, engineering, insurance, human resources management, secretarial and consultancy services in all ramifications.
Our numerous clients attest to the high quality services we offer which contribute in no small measure in ensuring sound and efficient management of their resources.
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