Overbooking in Hotel Revenue Management
This course teaches you how to strategically overbook and how to evaluate groups in order to determine which rates to charge.
Price £125 ex VAT

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EnglishENGLISH
3 hours
Available

About the Course

If you process guest bookings, you will understand the frustration of customers making reservations or bookings but failing to show. This can cause all kinds of problems in terms of your revenue and if it’s no properly managed, it can have a negative impact on your profitability. This course will show you how to use overbooking in a strategic way to protect your business against no shows.

To begin with the course will introduce you to the concept of overbooking and describe how you can create a tailored overbooking strategy for your business. This will include how to create no show forecasts, the best way to create no show rates, how to address arrival uncertainty, the best way to create a pricing policy and cancellation forecast. The course will also introduce you to some of the risks associated with overbooking and guide you through some of the different strategies that you can implement to reduce costs and mitigate customer impact.

Once you have studied this course you should feel confident with topics such as group forecasting, yieldable and non-yieldable business and incremental group costs as well as opportunities for revenue. The knowledge that you gain will also enable you to accurately calculate displacement costs and contribution margins to help you identify which customers will be the most profitable for your overbooking strategy.

Before you take this course, you must have completed our Introduction to Hotel Revenue Management training in addition to our course on Pricing Strategy ls. These two courses will give you the foundational knowledge and they will serve as a pre-requisite for this course.

Who Should Complete the Course?

Our training in overbooking is suitable for any Director or General Manager in the hospitality industry or any professional who is responsible for financial performance of a hotel.

Your business support team may also find that this course is beneficial so too will any hospitality professional who would like to pursue a managerial role and specifically revenue management opportunity.

What will this course cover?

After completing this course, you should have an excellent understanding of overbooking practices. The course will cover:

  • The best strategy to create an overbooking method for your business to effectively address no shows
  • Best practice for managing customers in the overbooking process
  • How to maximise your revenue through the implementation of strategies to make the right decisions at the right time

Who should complete this Course?

Our training in overbooking is suitable for any Director or General Manager in the hospitality industry or any professional who is responsible for financial performance of a hotel.

Your business support team may also find that this course is beneficial so too will any hospitality professional who would like to pursue a managerial role and specifically revenue management opportunity.

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.