About the Course
In simple terms Hotel Revenue Management is Selling the Right Room to the Right Client at the Right Moment for the Right Price!
Hotel Revenue Management is about becoming the architect of your own fortune. A hotel room is a perishable product, because you only have a limited number of hotel rooms available at any time. . As a result, customer satisfaction and pricing remain the most important dynamic variables, which are subject to Hotel Revenue Management.
Effective revenue management is a fundamental requirement of a successful hotel. This Introduction to Hotel Revenue Management Course will provide you with a sound basis on which to build a revenue management strategy. Understand what exactly revenue management is, learn relevant techniques to manage your revenues with skill and find out how you can maintain optimum levels of profitability.
After completing this course, you should be able to approach revenue management with confidence and make an immediate impact at work applying the knowledge that you have gained through studying this course.
Who should take this course?
Our Hotel Revenue Management course is designed for hospitality managers within all sectors of the hospitality industry. Suitable for general managers, revenue managers and MICE managers through to reservation managers and other hospitality professionals responsible for the financial performance of their organisation. What’s more, this is an excellent introductory course for anybody wanting to gain an understanding of hotel revenue management.
Our Introduction to Hotel Revenue Management Course, is broken down into three easy to follow modules: –
An Introduction to Hotel Revenue Management –This introductory module will provide you with a foundation on which to build your knowledge of hotel revenue management. In this section, you will learn exactly what hotel revenue management is and why it is so important. You will also learn about the importance of essential tools that revenue managers should be familiar with including key performance indicators, demand calendars and market segmentation.
Price Management, The Customer and External Factors – In the next section of the course we look at price management and how you can go about setting the right price for your product. We will also examine the customer and how various external factors can directly impact the decisions that managers make..
Competitors, Stay Controls and Getting It Right – This concluding section of the course touches on pickup analysis and stay controls, before examining the competition and the importance of benchmarking. We’ll also look at the various ingredients that ensure success in hotel revenue management.
Our Introduction to Hotel Revenue Management Course is endorsed and approved by the Institute of Hospitality.
As with all of our courses at the Training Terminal, An Introduction to Hotel Revenue Management is completed through your web browser in our secure online training portal. Study at your own pace and check your understanding with interactive quizzes. To complete this course successfully you will need to pass our end of course assessment consisting of 30 multiple-choice questions.
Duration and Time Limit
To complete this course we recommend approximately 2 – 3 hours, however you can take much longer than this or less depending on your learning style and other commitments.
If you pass the end of course assessment you will be awarded your Institute of Hospitality endorsed certificate in PDF format.
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.
If you are responsible for training a large number of staff, you may also be interested in our group training portal www.thetrainingterminal.co. Our well established system allows you to easily track and record who has received and completed the training, while reducing the need for administration and paperwork.