Hotel Revenue Management Foundations

Hotel Revenue Management Foundations
Published 10/2024
MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHz
Language: English | Size: 1.97 GB | Duration: 1h 34m

This Revenue Management Foundations seminar offers a comprehensive introduction to the principles of Revenue Management

What you'll learn

Understand Revenue Management fundamentals and apply effective Forecasting and Market Segmentation strategies.

Identify and optimize distribution channels like OTAs, GDS, and Direct Channels to maximize revenue.

Enhance online presence and maintain pricing parity across platforms, driving more bookings and visibility.

Use RevPAR, ADR, and other key metrics to measure performance and assess strategy success

Requirements

Basic Hospitality Knowledge: Some understanding of hotel operations or hospitality management is recommended.

Interest in Revenue Management: A genuine interest in improving revenue strategies and learning about Revenue Management Foundations

Description

The Revenue Management Foundations seminar is designed to provide hospitality professionals with a comprehensive understanding of key revenue optimization strategies within the hotel industry. This course is ideal for hotel managers, revenue managers, and aspiring leaders in hospitality who want to enhance their skills and knowledge in maximizing revenue through effective pricing and distribution strategies.The seminar begins with an in-depth exploration of the core principles of Revenue Management, focusing on Forecasting, Market Segmentation, and pricing strategies. Participants will learn how to analyze demand, identify key market segments, and implement competitive pricing strategies to optimize room revenue. By understanding the fundamentals of Revenue Management, attendees will be able to adjust their operations dynamically to maximize occupancy and profitability.In the second part of the seminar, the focus shifts to Revenue and Distribution Management. This section covers essential concepts such as the Guest Journey, Distribution Channels, and optimizing online visibility across platforms like OTAs (Online Travel Agencies), GDS (Global Distribution Systems), and direct booking channels. Participants will discover effective methods for converting lookers into bookers and managing reviews and social media presence to boost visibility.Finally, the course emphasizes measuring success using key performance indicators such as RevPAR, ADR, GOPPAR, and the Direct Booking Ratio. Attendees will leave the seminar with practical tools and insights to apply immediately within their operations to drive growth and revenue performance.

Overview

Section 1: Introduction

Lecture 1 What is Revenue Management?

Lecture 2 The Principles of Revenue Management

Lecture 3 Basics in Market Segmentation

Lecture 4 Who Are Your Main Competitors?

Lecture 5 First Steps into Pricing Strategies

Lecture 6 The Guest Journey

Lecture 7 Distribution Channels

Lecture 8 Optimizing Your Presence on Distribution Channels

Lecture 9 Converting Lookers into Bookers

Lecture 10 Reviews and Social Media

Lecture 11 Key Performance Indicators (KPIs)

Lecture 12 Thank you from Hoteltraining

Hospitality Professionals: Interested in advancing their career with a solid understanding of revenue optimization.,Hotel Managers and Owners: Seeking to enhance their revenue strategies and optimize pricing.,Aspiring Managers: Wanting to build foundational skills in revenue management and distribution strategies.,Revenue Managers: Looking to deepen their knowledge in Revenue Management and distribution channels.