Fundamentals of Hotel Revenue Management you must master in 2021
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