Hotel Revenue Management
Overview
Revenue management sells the right room to the right guest at the right price through the right channel. This course covers demand forecasting, segmentation, pricing strategies, inventory controls, distribution and measuring revenue performance in hotels.
Who should attend
Revenue managers and analysts, hotel general managers, sales and reservations managers, and front office managers.
Training methodology
Interactive presentations, practical exercises, case studies, group discussions, role-plays where relevant, and a personal action plan that participants apply in their own work.
Objectives
By the end of this course, participants will be able to:
- Explain revenue management principles and key metrics
- Segment demand and forecast occupancy and rates
- Set pricing strategies and length-of-stay controls
- Manage distribution channels and their costs
- Measure revenue performance and build a revenue strategy
Course outline
Day 1Revenue Management Principles
- Origins and logic of revenue management
- Perishable inventory
- Key metrics: occupancy, ADR, RevPAR, GOPPAR
- The revenue management cycle
- Revenue culture
- Benchmark your property
Day 2Demand and Forecasting
- Market segmentation
- Booking pace and pick-up
- Forecasting methods
- Group and event demand
- Competitor rate analysis
- Exercise: build a forecast
Day 3Pricing
- Pricing strategies
- Dynamic and best available rates
- Price fences
- Packages and value-adds
- Price elasticity
- Exercise: set a pricing strategy
Day 4Inventory and Distribution
- Overbooking
- Length-of-stay and stop-sell controls
- Distribution channels and OTAs
- Channel cost and direct booking
- Group displacement analysis
- Workshop: channel mix review
Day 5Performance and Strategy
- Revenue reports and dashboards
- Total revenue management
- Revenue management systems
- Revenue meetings
- Ancillary revenue
- Revenue strategy action plan
