Course Description

Time is money! Though a given in any business setting, the statement is even more valid in the hospitality industry—managing a perishable capacity like hotel rooms is critical when most of our costs are tied up in real estate. A room not sold today is not only a revenue opportunity lost forever; it is more importantly, a fixed cost that can no longer be recuperated. Revenue Management is the science of maximizing income growth through the application of disciplined tactics that predict customer behaviour at micro-market level and optimizing product availability and price (Cross, 1997). It is about offering the right service, at the right time, to the right customer, at the right price and through the right channel.

This course provides participants with an opening to understand the fundamentals of revenue management and developing the skills needed for advanced techniques in forecasting, group management, overbooking and pricing strategies.

How will you benefit?

·         Identify the fundamental concepts of Revenue Management

·         Be able to recognise and discuss the key concepts in Revenue Management

·         Elaborate, analyses and consider the implications of the contents in a Revenue Management toolbox

Course Competencies

·         Develop pricing and product strategies

·         Apply forecasting techniques

·         Group management

·         Apply overbooking policies

Learning Methodology

Interactive lecture, workshop, and industry case-studies.

Who should take this course?

This course is designed for hospitality managers, general managers, revenue managers, and other professionals responsible for the optimising profits and maximising revenue.