Revenue Management For The Hospitality Industry

Revenue management is an important strategy to apply to increase or maximize profits. While setting up a revenue system is not an easy task, it is important to have such a system in place. In this course we will discuss some elements and how to incorporate these into a system to increase revenue.If you have little to no experience when it comes to revenue management this course will help you understand what it is and how a revenue system contributes to your business. In this course we will try to break a complex strategy down into smaller more easy to understand parts, so you can start implementing these in your hotel.Together we will discuss all the basics of revenue management and go over some of the steps needed to set up a simple system. By the end of this course you will have a solid foundation and basic understanding of; what revenue management is, why it is important to have such a system in place and what elements are involved in perfog revenue management.When you've finished this course you'll understand concepts like, duration control, price level criteria and factors, how market sntation plays a big role and more. You'll be able to calculate displacement costs and set up rate parity for your distribution channels.

Overview

Section 1: Introduction

Lecture 1 The introduction

Section 2: Revenue management an introduction

Lecture 2 Revenue management an introduction

Section 3: The guests

Lecture 3 Accepting guests part 1

Lecture 4 Accepting guests part 2

Section 4: The fundamentals of revenue management

Lecture 5 The fundamentals of revenue management

Lecture 6 Duration and control

Lecture 7 Price setting

Lecture 8 Tangible and intangible price rules

Section 5: The economic fundamentals of revenue management

Lecture 9 The economic fundamentals of revenue management

Lecture 10 Price elasticity

Section 6: Processes in revenue management

Lecture 11 Processes in revenue management

Lecture 12 Goals

Lecture 13 Consider this

Lecture 14 Should you implement revenue management

Lecture 15 Interesting formulas

Lecture 16 Stratal and tactical approach

Lecture 17 Average daily rate

Lecture 18 Yield

Lecture 19 Sntation of the market

Section 7: The booking curve

Lecture 20 The booking curve

Lecture 21 Displacement costs

Section 8: Pricing

Lecture 22 Pricing

Lecture 23 Dynamic and differential pricing

Lecture 24 Demand for prices

Lecture 25 Rate parity

Lecture 26 Lowest rate guarantee

Lecture 27 Best available rate

Lecture 28 Last room guarantee

Lecture 29 Opaque pricing

Lecture 30 Prohibitive pricing

Lecture 31 Pricing strats

Section 9: Capacity management

Lecture 32 Capacity management

Section 10: Distribution channel management

Lecture 33 Distribution channel management

Section 11: The conclusion

Lecture 34 The conclusion

Hotel managers,Cruise ship managers,Revenue managers,Business owners,Accountants,Sales managers,Marketing managers,B&B owners

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