Objectives
At the end of the session, the participants are able to:
● Understand the key concepts of Revenue Management and its application of tactics and strategies to maximize hotel’s revenue opportunities.
● Learn how to systematically apply proper processing tools to enhance hotel revenue.
Target Audience
Employees with finance background / employees with a keen interest to learn about revenue management.
Course Outlines
Introduction
● A Brief History
● Criteria for Effective Use: Fixed Capacity Environment, perishable Product, Varied but Predictable Demand, High Fixed Costs and Low Variable Costs
Performance Measurement
● Internal Measures: Revenue, Occupancy %, Average Daily Rate, RevPAR, Contribution Margin, Identical Net Revenue, Marginal Revenue Consideration, GOPPAR, Other Measures
● External Measures: Competitive Set, Market Share
Tactical Revenue Management
● Forecasting: Forecasting Demand, Forecasting Room Availability
● Tactical Rate Management: Rate Structure, Tactical Discounting, Dynamic Pricing
● Stay (Duration) Control: Minimum Stay Requirement, Stay Through, Close To Arrival
● Capacity Management: Overbooking
● Displacement Analysis
Strategic Revenue Management
● Demand Generation
● Marketing Strategies: Marketing Segmentation, Market Targeting, Market Positioning,
Market Mix Management‘
● Strategic Pricing: Competing on Price, Rate Parity
● Revenue Streams Management
● Strategic Packaging
● Distribution Channel Management: Voice, GDS, Internet