Non-Traditional Applications of Hotel Revenue Management
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Revenue management can be applied to any hospitality industry with relatively fixed capacity, time-variable demand, and perishable inventory. This course teaches how to apply revenue management concepts and practices to hospitality-related industries such as restaurants, meeting spaces, spas, and golf facilities.
In this course, participants will learn a step-by-step process to develop, implement, and monitor a revenue management strategy to maximize top-line revenue for their operation.
Participants who complete this course will be able to...
- Refine the practice of revenue management to include other aspects of the hotel industry
- Extend the practice of revenue management to other industries
- Lead a revenue management effort, from gathering baseline data to monitoring results post-implementation
Module 1 - Total Revenue Management
- The Revenue Management Approach
- The Four Quadrants
- The Five Steps
Module 2 -Refining Revenue Management
- Refinements to Current Practices
- Refining Strategic Levers
Module 3 - Extending Revenue Management
- Extending Revenue Management to Restaurants
Module 4 - Analyzing a Revenue Management Baseline
- Analyzing a Revenue Management Baseline
Module 5 - Building Revenue Management Strategies
- Building Revenue Management Strategies
Module 6 - A Case for Revenue Management
- Extending Revenue Management to a Convention Center
- Understanding the Causes and Developing Strategies at Raffles
- Implementing and Monitoring at Raffles
Who should attend
This course is designed for hospitality managers, general managers, revenue managers, and other hospitality professionals responsible for the financial performance of their organization.