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Business Business Strategy Hotel Management

Fundamentals of Hospitality Revenue Management

fundamental of process, reports and data requirements in Revenue Management, pricing, SWOT Analysis, demand forecasting
Rating: 3.2 out of 53.2 (75 ratings)
217 students
Created by Hotel Management School Your learning Partner
Last updated 5/2020
English
English [Auto]
30-Day Money-Back Guarantee

What you'll learn

  • Learn Revenue Management Fundamentals
  • Pricing Pillar
  • Competition Analysis (SWOT Analysis)
  • Understand Demand & Inventory
  • Process of Revenue Management
  • Marketing Reports required for revenue management

Requirements

  • Basic Understanding of Hotel Operations

Description

Revenue Management is essential whenever businesses can charge different prices from different customers. Like airlines, hotels, restaurants & other service industries

Revenue Management comes in picture where different peoples uses same product & services for different reasons and have different willingness to pay. For Example Airlines, Hotels, Advertising Services. 

Inventory in these are perishable and unsold are considered as loss. In these scenarios Maximizing revenue can be difficult

This course talks about fundamentals of revenue management for hotels in particular and other industries in general.

This Course will help you to become understand what are fundamentals of revenue management.

Why you should take this course and What to expect

  • Learn Fundamentals of Revenue Management,

  • Pricing Pillars, Concepts and Dangers,

  • Analyse Inventory Management

  • What are typical revenue management decisions you would make.

  • What data is required to make such decision.

Unique Features

-  focus on theoretical Aspects

- Personalized review.

- Continuous guidance in your learning ensuring that you achieve your objective of subscribing to this course.

- Regular Updates on case studies based on your feedbacks

Even though the course is online with no physical presence, assignments in this course will give you a change of personal interaction as i will review all assignment personally and give you personalized guidance.

Subscribe now and Share the love with others as well.

Who this course is for:

  • Small Hotel Managers
  • Front Office Staff
  • Reservation Staff
  • Sales Professionals
  • Hotel Owners

Course content

4 sections • 26 lectures • 3h 4m total length

  • Preview05:57
  • Preview09:31
  • Preview00:09
  • Revenue Management Definition & Meaning
    07:06
  • Revenue Management Premise and Assumptions
    08:15
  • Common Revenue Management Decisions at hotels
    05:16
  • Terms used in Hospitality in relation to Revenue Management
    14:13

  • Steps for Revenue Management
    02:10
  • Steps for Revenue Management
    03:05
  • Step 2 - Segmentation of target cutomer and understand their profiles
    10:46
  • Step 2- Balancing the Segment of customers
    05:57
  • Step 3 - Understanding Demand
    04:07
  • Step 3 - Forecasting the Demand
    15:49
  • Step 4 - Identify Competitors & Swot Analysis
    07:34
  • Step 5 - Meaning of Price and Seller & buyer Prospective price
    08:15
  • Step 5 - How do we detemine Prices
    09:03
  • Step 5 - Pricing Factors and Strategic Pricing
    05:02
  • Differential Pricing
    03:33
  • Pricing Concepts - Dangers and Restrictions
    03:26
  • Re-cap What we have learned soFar
    02:45

  • Distribution and Channel Management
    11:28
  • Inventory management
    10:42
  • Report which we may need for revenue management
    13:55
  • Some Sample Revenue management Reports
    08:47
  • Revenue Management Challanges
    07:14
  • What Revenue Management reports you are using and what do you learn from them
    1 question

  • BONUS LECTURE
    00:40

Instructor

Hotel Management School Your learning Partner
Professional Hotel Management courses for career development
Hotel Management School Your learning Partner
  • 3.7 Instructor Rating
  • 773 Reviews
  • 38,313 Students
  • 30 Courses

Hotel management school was established a year ago by young and Professional Hoteliers having a combined experience of over 20 Years.

Instructors have worked in prestigious hotel chains such as Shangri-la, Intercontinental in Finance, Operations, Sales & marketing at Director Levels.

Classes were taught first in physical environment to test contents and take feedback from students. These recorded classes combine both separate recording classroom settings.

Course Content is being updated regularly and new topics are added continuously based on feedback from students.

If you have any feedback you can email us or message us to make the overall learning experience engaging and complete.

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