Course overview

This online course will provide you with the knowledge, skills, and competencies required to develop and execute strategic revenue management processes in hospitality organizations. You will learn how to integrate multiple data sources and analyze them to improve hotel performance through price optimization, demand forecasting, availability control, and inventory allocation. ✅ HOSCO MEMBERS GET AN EXCLUSIVE 10% DISCOUNT. Use discount code EHL-HOSCO-22 at checkout ✅

What you will learn

What you will learn
- Apply different methods to forecast future demand - Identify new data sources and conduct a comprehensive data analysis - Distinguish between revenue optimization and revenue generation - Evaluate hotel performance using KPIs - Discuss the key trends in revenue management for hospitality businesses ✅ Week 1 - Revenue management fundamentals The revenue management game The principles of revenue management Pricing strategy Prisoner’s dilemma Game theory and best rate guarantee Price discrimination Rate fence ✅ Week 2 - Forecasting Demand management Unconstrained demand vs. constrained demand Booking curve and pickup forecasting Forecasting methods Error measurement Overbooking Introduction Overbooking policy ✅ Week 3 - Inventory allocation and capacity control The basics of inventory allocation Expected marginal revenue Nested reservation system Protected level vs. booking limit Group management ✅ Week 4 - Revenue management implementation Key performance indicators (KPIs) Revenue management systems (RMS) Total revenue management Big data analytics Data Visualization ✅Week 5 - Final assessment

Course details

Who is the course for?

This course is designed for hospitality professionals, hotel owners, entrepreneurs starting a hospitality business and any professional with business experience wishing to update their skills and learn new revenue management techniques.