Introduction To Hotel Revenue Management
Details
An introduction to revenue management as a systematic process designed to increase revenue by leveraging tools designed to manage length-of-stay and apply effective pricing strategies. Implementing a revenue management strategy can be one of the most important revenue-generating initiatives available to a hotel, significantly increasing room revenue and profits. This course provides an overview of revenue management applications to the hotel industry designed to inspire a strategic shift to managing revenue per available room (RevPAR).
Revenue management is a systematic process designed to increase revenue by selling the right room to the right person at the right time for the right price. In addition to evaluating different pricing models and applying duration-management strategies, this course provides a foundation for more advanced revenue management courses in forecasting, group management and overbooking, pricing strategy, and application of revenue management techniques to other hospitality-related industries including spas and athletic facilities. Participants who complete this course will be able to...
- Describe hotel revenue management and its benefits to the organization
- Discuss the strategic levers of hotel revenue management and how they can be manipulated to increase revenue
- Describe hotel revenue management in terms of its component parts and critical considerations
- Recommend non-traditional ways in which revenue management techniques can be applied to increase revenue in the hospitality industry
Outline
- What is Hotel Revenue Management?
An Overview of Hotel Revenue Management
Necessary Conditions for Revenue Management
- Measuring Success with RevPAR
RevPAR-Measuring Revenue
Calculate RevPAR
- Managing Duration
Reducing Duration Uncertainty
Tips for Managing Duration
- Controlling Price
Variable Pricing
Best Available Rate
Leverage Price
- Implementing Revenue Management
Component Parts of Implementation
- Revenue Management Everywhere
Managing Revenue in Other Industries
FOR WHOM:
This course is designed for hospitality managers, general managers, revenue managers, and other hospitality professionals responsible for the financial performance of their organization.
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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