Introduction to Hotel Revenue Management Courses from The Training Terminal
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.
This course will provide you with a useful basis on which to build a revenue management strategy. It will help you to understand what exactly revenue management is, equip you with the relevant techniques to manage your revenues with skill, and give you the knowledge on how you can maintain optimum levels of profitability.
After completing this course, you should be able to approach revenue management with confidence and have an immediate impact at work by applying the knowledge that you have gained.
Who should take this course?
Our revenue management for the hospitality industry course is designed for hospitality managers within all sectors of the hospitality industry. It is particularly suitable for general managers, revenue managers, MICE managers, reservation managers, and all other hospitality professionals responsible for the financial performance of their organisation. The course is also an excellent introductory tool for anyone wanting to gain an understanding of hotel revenue management.
This course is split into three user-friendly modules: –
The introductory module will provide you with the foundation to build your knowledge of hotel revenue management. 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 – The following section of the course looks at price management and how you can go about setting the perfect 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 – The concluding section of the course touches on pickup analysis and stay controls, before examining the competition and the importance of benchmarking. We will also look at the various ingredients that ensure success in hotel revenue management.
Our hotel management courses are endorsed and approved by the Institute of Hospitality.
As with all of our hotel management course it is completed through your web browser in our secure online training portal. You will have the opportunity to study at your own pace and check your understanding with interactive quizzes. To complete our online certificate courses successfully, you will need to pass our end of course assessment, which consists of 30 multiple-choice questions.
Duration and Time Limit
To complete the online hotel management course, we recommend you spend approximately 2 – 3 hours. However, you have the freedom to work at your own pace, depending on your commitments or learning style.
If you successfully pass the end of course assessment you will be awarded an Institute of Hospitality endorsed certificate in PDF format.
We only work with the very best
Our hospitality management courses online are designed and created by a team of experienced hospitality professionals. You will be learning from the best and will hopefully leave your training feeling inspired by mentors who understand your aspirations and requirements. Other courses that you may be interested in, include our Level 2 Food Safety course and our Health and Safety certificate Level 2.