Revenue management is key to any business that has relatively fixed capacity, perishable inventory, and time-variable demand. This course introduces you to the basics of revenue management in the hotel industry: how to apply pricing and length-of-stay tools and how to measure your revenue management performance. It is designed to inspire you to shift your thinking about revenue management from a focus on occupancy and average room rate to a focus on revenue per available room (RevPAR).
This course teaches you how to accurately forecast guest arrivals at your hotel, examine pricing models in accordance with revenue management principles, and to manage overbooking. All of the techniques and practices discussed in this course are applicable to a variety of service management roles.
By completing this course you will have compiled detailed notes and recommendations for implementing revenue management at the organization where you work.
Who should enroll in this course?
- Directors, general managers, and other hospitality professionals responsible for improving the financial performance of their organizations
- Front desk managers, night auditors, and sales and marketing analysts who want to take on more responsibility for improving profitability in their property
- Those who aspire to hospitality management positions and need a strong foundation of revenue concepts