Forecasting in Hotel Revenue Management
This course explores the role of the forecast in a revenue management strategy and the positive impact that forecasting can have.
Price £125 ex VAT

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EnglishENGLISH
3 hours
Available

About the Course

Being able to forecast is a crucial skill in hotel management. It is required for many reasons from evaluating demand through to evaluating room availability and length of stay. The material in this course will explore all aspects of forecasting in hotel management and how it can be used to improve staffing and purchasing strategies.

This course will allow you to create an accurate forecast, create booking curves and segment your audience by group, channel and market as well as accurately calculating error.

Before you complete this course, we do ask students to complete our Introduction to Hotel Revenue Management.

Course Content

Once you have studied the material in this course you should be able to:

  • Explain the purpose of forecasting and how it fits in with your wider revenue management strategy
  • Techniques to create a forecast and assess its effectiveness
  • Maximise profitability by recommending or establishing recommended room rates
  • Implement length of stay controls in your business

Who Should Complete the Course?

This course is suitable for the following people:

General Managers and Directors as well as other hospitality professionals who oversee financial operations in a hotel

Business support teams such as Front Desk Managers, auditors and sales and marketing analysts who want to play a key role in maximising profitability

Any hospitality professional who would like to follow a career in revenue management

Format

The interactive e-learning course allows you to study at your own pace, acquiring all of the necessary skills and knowledge easily as you progress through the various sections. Test Your Knowledge questions will reinforce your understanding as you go, and at the end of the course you will need to complete and pass a multiple-choice quiz to obtain your certificate.

Duration and Time Limit

This course can be completed in approximately 3 hours from start to finish, although you can do it in your own time.

Certificate

Upon successful completion of this Institute of Hospitality endorsed course, students will receive their PDF certificate.

We only work with the very best

Our training courses are written and managed by hospitality professionals with many years experience in their field. You will be learning from the best and you will come away from your training inspired by mentors who understand your aspirations and requirements.