Absolutely marvellous ! I couldn’t have asked for a better teacher.
Left with greater insight into how to manage a revenue manager, and what questions to ask. Very worthwhile
Looking forward to attending the weekly commercial meetings with a better understanding of revenue management strategy and the impact on my role
What you’ll learn
Why should you attend this course?
This course is designed to
- Deepen your understanding of the many factors that determine an optimal pricing strategy.
- Build greater confidence in your understanding of revenue management, so you can contribute to pricing discussions with insight and knowledge.
- Illustrate how to interpret key metrics and reports such as STR and understand how these impact your role
- Uncover how you can align your strategy with the revenue management function to exceed company goals.
What will I learn and gain from attending this course?
- The core concepts and key characteristics of revenue management
- Creating an operational road map and putting revenue management into practice through eight operational steps
- What revenue managers do, and how the role interacts with the team
- Short medium and long term tasks and building a methodical approach
- Market Segmentation and its role in revenue management
- Building value through segmentation – ensuring clear segment definition, pricing and promotional policies
- How to create a competitor set
- Pricing – how is a pricing strategy built using qualified and unqualified rates
- Setting pricing decisions and the tools available to support pricing decisions
- The pricing toolkit, Fences and hurdles, Last room value,
- Facilitating optimal rates distribution through distribution partners
- The framework of distribution, from hotel to customer
Who is this course suitable for?
General managers, sales professionals and those with a commercial remit within hotels whose success depends on revenue management decisions and strategy. This would also be of huge benefit to business partners working with hotels, such as Online Travel Agents, technology providers and marketing agencies, tasked with driving hotel sales. The course will ensure you understand and can contribute to revenue management discussions with insight and confidence, resulting in enhanced performance.