Revenue Management is critical to a hotel's financial success
What you will learn
Properly executed Revenue Management fundamentals drive top line sales in hotels.
Of course, the efforts of a hotel sales team are critical to a hotel’s financial success, but when you layer on a robust Revenue Management program at a hotel, the group and transient sales are made even more effective through selling the right room, to the right customer, at the right time, for the right price, via the right distribution channel.
This course will introduce you to the fundamentals of Revenue Management that will help you to kick off your revenue management career, enable you to work more effectively with a Director of Revenue Management as a peer or ensure that as a General Manager you are getting the most out of your hotel’s Revenue Management program.
Throughout this course, you will learn what a DRM is and how the work they do can improve your business. We will look at how they interact with other members of the hotel’s revenue team and how responsibilities should be assigned. We will touch on topics such as market segmentation, forecasting, competitive performance (with a deep dive on the STR report). You will review the performance metrics including occupancy, ADR and RevPAR performance from a macro perspective and then, drill down to the micro level gaining new perspectives on the data so that it can be used to improve decisions and enhance profitability. We will wrap the course by defining strategy and how to develop this to improve your business performance.
Who is the course for?
This course is for any hospitality professional who would like to understand and/or find an opportunity working with Revenue Management. We also recommend the course to Directors of Sales, Sales Managers, General Managers and anyone who needs to work closely with revenue management and reservations.