Learn industry-proven strategies to optimize pricing, manage inventory, and drive profit in your hotel business.
£45.00 inc. VAT
Are you struggling to fill rooms at optimal rates? Does unsold inventory leave you feeling frustrated and financially disadvantaged? If so, Hotel Revenue Management could be the key to unlocking your hotel's true profit potential. This comprehensive course dives deep into the fundamentals of revenue management, specifically tailored for the dynamic and competitive hotel industry.
What you will learnWhether you're a seasoned hotelier or just starting, this course will equip you with the knowledge and skills to:
- Understand pricing pillars, concepts, and potential pitfalls.
- Master strategic inventory management techniques.
- Confidently make data-driven revenue management decisions.
- Access regularly updated case studies based on industry trends, participant feedback, personalised feedback, and assignment guidance to ensure your learning success.
Who will benefit from this course?Here is a list of people who would benefit from this course:
- Hotel owners and managers: This course will teach you the fundamentals of revenue management, which can help you increase your hotel's revenue and profitability. You will learn to set optimal room rates, manage inventory effectively, and make data-driven decisions.
- Revenue managers: This course will help you to improve your skills and knowledge of revenue management. You will learn about the latest trends and best practices in the industry, and you will be able to apply what you learn to your job.
- Hospitality professionals: This course is a valuable resource for hospitality professionals. You will learn about the importance of revenue management and how it can impact your hotel's success.
- Anyone interested in maximising hotel revenue: This course is a great place to start if you want to learn more about hotel revenue management. You will learn the basics of revenue management and how it can be applied to any hotel.
Why Should You Take This Online Course?
- Expertly Designed and Delivered by Industry Experts: Developed and delivered by Manish Gupta - Hospitality Finance Expert and Business Strategist.
- Immediate Recognition with an Instant E-Certificate: After finishing our online course, you will receive an instant E-certificate. This certification acknowledges your dedication and successful course completion, allowing you to demonstrate your newly gained knowledge and skills to potential employers, colleagues, or clients. The E-certificate validates your accomplishments immediately, raising your professional standing.
- Convenient Online Learning Experience: Because our course is entirely online, you may learn at your own pace and convenience. The course materials are accessible from anywhere and anytime, making it ideal for people with hectic schedules. The curriculum is delivered via captivating videos and extensive reading materials, creating a dynamic and interactive learning experience.
- Self-paced Learning for Maximum Progress: We recognise that everyone has various learning styles and time commitments. As a result, our online course provides self-paced study. You can work through the course materials independently, allowing for a more personalised learning experience. Our course supports your individual learning preferences, whether you like to immerse yourself in the information or take it step by step.
- Laptop, tablet, and smartphone compatibility: Our online course is device-compatible to improve accessibility. Whether you choose a computer, tablet, or smartphone, you may easily access and interact with the course contents. This adaptability allows you to learn on the go, incorporating your studies into your everyday routine and maximising your learning possibilities.
Hotel Management – Concepts of Budgeting & Forecasting, Hotel Management – Revenue Controls & Income Audit Process, Hotel Management – Fundamentals in Labor Cost Management, IFRS 15 – Revenue Recognition Redefined for All Industries, Hotel Management- Maximise & Analyse Restaurant Profits and more.
Career prospects after completing this course:Completing this Hotel Management -Fundamentals of Revenue Management course can open doors to various exciting career paths in the hospitality industry. Here's a breakdown of potential opportunities: Direct Revenue Management Roles:
- Revenue Manager: Analyse data, forecast demand, set room rates, and develop strategies to maximise revenue.
- Assistant Revenue Manager: Support the revenue manager with data analysis, reporting, and competitor maximisation.
- Reservation Sales Manager: Manage group bookings, negotiate rates, and generate revenue through strategic selling.
- Yield Manager: Utilise specialised software to optimise pricing and inventory based on real-time demand.
- Hotel management specialises in under-optimising revenue generation to make informed decisions across the hotel operation.
- Front Office Manager: Improve revenue through upselling, packages, and understanding guest behaviour.
- Marketing Manager: Design campaigns that attract high-value guests and contribute to revenue goals.
- Event Manager: Develop pricing strategies and packages for profitable events and conferences.
- Revenue Management Consultant: Advise hospitality businesses on optimising revenue strategies.
- Airline Revenue Management: Apply your knowledge to the airline industry with similar dyoptimisingent Ticketing & Pricing: Utilise revenue management principles in event planning and ticket sales.
- Retail & E-commerce: Leverage pricing and inventory management skills in various retail industries.
- Increased Earning Potential: Revenue management professionals often command higher salaries than other hotel positions.
- Career Advancement: This specialised skillset can accelerate your career progression within the industry.
- Job Security: Revenue management is crucial to success, creating job stability for qualified professionals.
Industry Expert Instructor
Rated Excellent on Trustpilot
- Introduction to the course.. what you will learn 00:06:00
- Revenue Management Myths and Profit Fallacy 00:10:00
- Revenue Management Definition & Meaning 00:07:00
- Revenue Management Premise and Assumptions 00:08:00
- Common Revenue Management Decisions 00:05:00
- Terms used in Hospitality in relation to Revenue Management 00:14:00
- Steps for Revenue Management 00:02:00
- Step 1-Positioning of Hotel 00:03:00
- Step 2 – Segmentation of target cutomer and understand their profiles 00:11:00
- Step 2- Balancing the Segment of customers 00:06:00
- Step 3 – Understanding Demand 00:04:00
- Step 3 – Forecasting the Demand 00:16:00
- Identify Competitors & Swot Analysis 00:08:00
- Meaning of Price and Seller & buyer Prospective price 00:08:00
- Step 5 – How do we detemine Prices 00:09:00
- Step 5 – Pricing Factors and Strategic Pricing 00:05:00
- Differential Pricing 00:04:00
- Pricing Concepts – Dangers and Restrictions 00:03:00
- Re-cap What we have learned soFar 00:03:00
- Distribution and Channel Management 00:11:00
- Inventory management 00:11:00
- Report which we may need for revenue management 00:14:00
- Some Sample Revenue management Reports 00:09:00
- Revenue Management Challanges 00:07:00
- Get Your Certificate & Transcript 00:00:00