Enrolled: 51 students
Duration: 4 Hours
Lectures: 24
Video: 4 Hours
Level: Intermediate

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hotel revenue management

Hotel Revenue Management is an essential tool in maximizing profitability for hotels despite low occupancies. Revenue Management principles apply, whenever businesses have the ability to charge different prices from different customers. Like airlines, hotels, restaurants & other service industries

Hotel Revenue Management comes in the picture as different peoples use the same product & services for different reasons and have different willingness to pay, just like in Airlines, Advertising Services, consulting services, IT services. Revenue management, unlike myths, is applicable even if there are very few customers as the key idea is not to fill the hotel but to profitability by able to charge an optimal price.

Revenue management, in short, is to strike a balance between valome and value of business to make optimal choices which helps to maximise revenue.

Hotel Inventory is perishable and unsold. Once time passes hotel rooms unsold are considered as a loss. In these scenarios Maximizing revenue and managing inventory is critical to hotel success.

This course talks about the fundamentals of hotel revenue management in particular and other industries in general.

Why you should take this course on hotel revenue management and What to expect

  • Learn the Fundamentals of hotel Revenue Management,
  • Pricing Pillars, Concepts and Dangers,
  • Analyze Inventory Management
  • What are the typical revenue management decisions you would make?
  • What data is required to make such a decision.

Unique Features of hotel revenue management course.

  • focus on theoretical Aspects
  • Personalized review.
  • Continuous guidance in your learning ensuring that you achieve your objective of subscribing to this course.
  • Regular Updates on case studies based on your feedbacks

Even though the course is online with no physical presence, assignments in this course will give you a change of personal interaction as I will review all assignments personally and give you personalized guidance.

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What you’ll learn

  • Revenue Management Fundamentals through the hospitality industry
  • Pricing Techniques
  • Segmenting & Profiling Business
  • Competition and SWOT analysis
  • Yeilding the business to maximize profits

Are there any course requirements or prerequisites?

  • Entrepreneurship attitude to maximize business
  • Fundamental Understanding of business terms
  • Willingness to research to understand your customers

Who this course is for:

  • Small Business Owners
  • Hotel Managers
  • Revenue Managers

The instructor of the courses is Mr Manish Gupta , other courses taught by him which will help you become a desired manager in hotel are below

Learn how to analyse and maximize Restaurant Profitability

learn how to Analyze Hotel Financial Statements to improve profitability in 2021

Suggestive selling and Upselling skills you need today to grow your career in 2020

Introduction and Fundamentals Terms

1
Introduction & Responsibility for Revenue Management
2
Revenue Management Myths and Profit Fallacy
3
Lecture 3 Revenue Management Definition & Meaning
4
Lecture 4 Revenue Management Premise and Assumptions
5
Lecture 5 Common Revenue Management Decisions
6
Lecture 6 Terms used in Hospitality in relation to Revenue Management

Steps and Process for Revenue Management

1
Lecture 7 Steps for Revenue Management
2
Lecture 8 Step 1 – Understanding Positioning of Hotel
3
Lecture 9 Step 2 Segmentation of target cutomer and understand their profiles
4
Lecture 10 Step 2 Balancing the Segment of customers
5
Lecture 11 Step 3 Understanding Demand
6
Lecture 12 Step 3 Forecasting the Demand
7
Lecture 13 Step 4 Identify Competitors & Swot Analysis
8
Lecture 14 Step 5 Meaning of Price and Seller & buyer Prospective price
9
Lecture 15 Step 5 How do we determine Prices
10
Lecture 16 Step 5 Pricing Factors and Strategic Pricing
11
Lecture 17 Differential Pricing Concepts in Revenue management
12
Lecture 18 Pricing Concepts Dangers and Restrictions
13
Lecture 19 Re cap What we have learned soFar

Other Considerations in Revenue Management and Data and Reports

1
Lecture 20 Distribution and Channel Management
2
Lecture 21 Inventory management
3
Lecture 22 Report which we may need for revenue management
4
Lecture 23 Some Sample Revenue management Reports
5
Lecture 24 Revenue Management Challenges

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Fundamentals of Hotel Revenue Management you must master in 2021
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