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Hotel Management - Revenue Management for Beginners

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Hotel Management - Revenue Management for Beginners

4.3

(1352)

4093 enrolled on this course

Last updated 11/2021

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₹ 2799.0

₹ 4299.0

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Lessons

Quizzes

Duration

13 Hours

Skill level

Beginner

Language

English

Certificate

Yes

Full lifetime access

Yes

Description

In this course you will understand the basics of Revenue Management. You will also learn about the practical application of Revenue Management in the day to day operations of a hotel. You will be able to gain more insights into the mindset of the management team in terms of business strategy. This course will give you a great introduction to the subject which you can build up upon by taking a professional full time course from a university.
This course is for Hotel Owners, Hotel Managers, Hotel Management Students and Hospitality Professionals who want to get a basic understanding of Revenue Management as a discipline.
You will learn:
- Basics of Revenue Management.
- Learn about the various indexes and matrices used in evaluating performance
- Gain more insights into the elements of Revenue Management like tools and support strategies
- Learn how Revenue Management can be applied to every area on business and life in general.
In this course you will understand the basics of Revenue Management. You will also learn about the practical application of Revenue Management in the day to day operations of a hotel. You will be able to gain more insights into the mindset of the management team in terms of business strategy. This course will give you a great introduction to the subject which you can build up upon by taking a professional full time course from a university.
This course is for Hotel Owners, Hotel Managers, Hotel Management Students and Hospitality Professionals who want to get a basic understanding of Revenue Management as a discipline.
You will learn:
- Basics of Revenue Management.
- Learn about the various indexes and matrices used in evaluating performance
- Gain more insights into the elements of Revenue Management like tools and support strategies
- Learn how Revenue Management can be applied to every area on business and life in general.
Who this course is for:
College students
Revenue Management Professionals
Hotel Management Students
Hospitality professionals
Travel & Tourism professionals
Sales and Marketing Professionals
Hotel General Managers

What you'll learn

Understand the basics of Revenue Management.

Learn about the various indexes and matrices used in evaluating perfromance

Gain more insights into the elements of Revenue Management like tools and support strategies

Learn how Revenue Management can be applied to every area on business and life in general.

Requirements

You will need a copy of Adobe XD 2019 or above. A free trial can be downloaded from Adobe.
No previous design experience is needed.
No previous Adobe XD skills are needed.

Course Content

27 sections • 95 lectures

Expand All Sections

1-Introduction of the instructor and to the course

1.1-About your instructor

1.2-Introduction to the course

2-Definition and a chronological history of Revenue Management

2.1-Definition of Revenue Management

2.2-Chronological History of Revenue Management

3-Getting started

3.1-Principles and fundamentals of Revenue Management

3.2-Revenue Management Cycle

4-Market Segmentation

4.1-Types of Market Segments

4.2-Segment Mix

5-Pricing Strategies

5.1-Types of Pricing Strategies

5.2-Forecast Based Pricing

5.3-Segment Based Pricing

5.4-Parity Strategy

5.5-Discounting

5.6-Flash Sales

5.7-Upselling and Cross Selling

6-Reputation Management

6.1-About Reputation Management

6.2-Net Promoter Score - NPS (Active

Passive

Neutral)

6.3-Reputation Performance Score

6.4-Tripadvisor

6.5-Google Reviews

6.6-Local Measure

6.7-Facebook and Instagram

6.8-TikTok

6.9-Linkedin

6.10-Online Food Delivery Apps

6.11-Online Travel Agents (OTAs)

7-Tools

7.1-Tools for Revenue Management

7.2-Global Distribution System (GDS)

7.3-Revenue Management Systems (RMS)

7.4-Online Travel Agents (OTAs)

7.5-STR - Smith Travel Research Report

7.6-Channel Management Tools

7.7-Property Management Systems (PMS)

8-Calculation of basic indicators and matrices

8.1-Basic indicators and matrices

8.2-Room Occupancy

8.3-Calculate the occupancy of this 250 room hotel

8.4-Average room rate (ARR) or Average Daily Rate (ADR)

8.5-Calculate the ARR or ADR

8.6-Revenue Per Available Room (RevPar)

8.7-Calculate the RevPar

8.8-Average Length of Stay

8.9-Calculate Average Length of Stay

8.10-Revenue Per Available Square Foot

Square Meter (RevPas);8.11-Market Share;8.12-Calculate Market Share;8.13-Market Penetration Index (MPI);8.14-Calculate MPI;8.15-Average Rate Index (ARI);8.16-Revenue Generation Index (RGI);8.17-Cost Per Occupied Room - COPOR;8.18-Gross Operating Profit (GOP)

9-Restrictions

9.1-Introduction to Restrictions;9.2-Minimum Length of Stay (MLOS);9.3-Maximum Length of Stay (MaxLOS);9.4-Closed to Arrival (CTA);9.5-Closed to Departure (CTD);9.6-Stay-Through Restriction

10-Other concepts of Revenue Management

10.1-Other concepts of Revenue Management;10.2-Over Booking;10.3-Food & Beverage Allocation;10.4-Total Hotel Revenue Management (THRM);10.5-Rational Pricing;10.6-Displacement Analysis;10.7-Dynamic Pricing

11-Closing note

11.1-Closing note

12-Bonus Section

12.1-Career in Revenue Management