Introduction to Hotel Revenue Management

Learn how to manage revenues with skill, find out how to maintain optimum levels of profitability and gain skills to make an immediate impact at work.

55 students enrolled

In simple terms Hotel Revenue Management is Selling the Right Room to the Right Client at the Right Moment for the Right Price!

Hotel Revenue Management is about becoming the architect of your own fortune. A hotel room is a perishable product, because you only have a limited number of hotel rooms available at any time.  As a result, customer satisfaction and pricing remain the most important dynamic variables, which are subject to Hotel Revenue Management.

Effective revenue management is a fundamental requirement of a successful hotel. This Introduction to Hotel Revenue Management Course will provide you with a sound basis on which to build a revenue management strategy. Understand what exactly revenue management is, learn relevant techniques to manage your revenues with skill and find out how you can maintain optimum levels of profitability.

After completing this course, you should be able to approach revenue management with confidence and make an immediate impact at work applying the knowledge that you have gained through studying this course.

Who should take this course?

Our Hotel Revenue Management course is designed for hospitality managers within all sectors of the hospitality industry.  Suitable for general managers, revenue managers and MICE managers through to reservation managers and other hospitality professionals responsible for the financial performance of their organisation. What’s more, this is an excellent introductory course for anybody wanting to gain an understanding of hotel revenue management.

Course Content

Our Introduction to Hotel Revenue Management Course, is broken down into three easy to follow modules: –

An Introduction to Hotel Revenue Management –This introductory module will provide you with a foundation on which to build your knowledge of hotel revenue management. In this section, you will learn exactly what hotel revenue management is and why it is so important. You will also learn about the importance of essential tools that revenue managers should be familiar with including  key performance indicators, demand calendars and market segmentation.

Price Management, The Customer and External Factors – In the next section of the course we look at price management and how you can go about setting the right price for your product. We will also examine the customer and how various external factors can directly impact the decisions that managers make..

Competitors, Stay Controls and Getting It Right – This concluding section of the course touches on pickup analysis and stay controls, before examining the competition and the importance of benchmarking. We’ll also look at the various ingredients that ensure success in hotel revenue management.

Format

As with all of our courses at the Training Terminal, An Introduction to Hotel Revenue Management is completed through your web browser in our secure online training portal. Study at your own pace and check your understanding with interactive quizzes. To complete this course successfully you will need to pass our end of course assessment consisting of 30 multiple-choice questions.

Duration and Time Limit

To complete this course we recommend approximately 2 – 3 hours, however you can take much longer than this or less depending on your learning style and other commitments.

Certificate

If you pass the end of course assessment you will be awarded your endorsed certificate in PDF format.

We only work with the very best

Our training courses are written and managed by hospitality professionals with many years experience in their field. You will be learning from the best and you will come away from your training inspired by mentors who understand your aspirations and requirements.

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Course Modules

1
What is Hotel Revenue Management? Introduction!

In this first module of Introduction to Hotel Revenue Management, explore the basic concepts of the revenue management approach. Use price and duration characteristics to define the most suitable candidates for revenue management, and find out about other conditions necessary to its implementation. Finally, see why revenue per available room-night (RevPAR) is a powerful tool for assessing profitability.

When you have completed this module, you will be able to:

  • Name the two strategic levers of hotel revenue management
  • Describe the benefits of implementing a systematic revenue management process
  • List the conditions necessary to implementing revenue management
  • Define RevPAR
  • Calculate RevPAR
  • Identify opportunities for revenue management


2
Revenue Management Approach

The goal of hotel revenue management can be summed up simply as follows: selling the right room to the right customer at the right price at the right time. On a playing field defined by duration and price, the game of hotel revenue management presents the challenge of maximizing revenue per available room.

In this topic,Mr. Alaa Elhadi introduces you to the key concepts of hotel revenue management.

When you have completed this topic, you will be able to:

  • Name the strategic levers of hotel revenue management
  • Describe the benefits of implementing a systematic revenue management process
  • List the conditions necessary to implementing revenue management


3
View of Revenue Management

There are many measures of how well a hotel is doing and the extent of its success. In hotel revenue management, revenue per available room-night (RevPAR) is of particular interest. This measure is simple to calculate and easy to use. It's a valuable and powerful tool because it communicates information about rate and occupancy simultaneously.

When you have completed this topic, you will be able to:

  • Define RevPAR
  • Calculate RevPAR
  • Identify opportunities for revenue management


4
An Introduction to Hotel Revenue Management

The goal of this course is to inspire you to shift your thinking about revenue management from a focus on occupancy and average room rate to a focus on revenue per available room (RevPAR).

After completing this course, you will be able to:

  • Describe hotel revenue management and its benefits
  • Discuss the strategic levers of hotel revenue management and how they can be manipulated to increase revenue
  • Describe hotel revenue management in terms of component parts and critical considerations
  • Recommend ways in which revenue management can be applied to other hospitality-related industries
5
RevPAR Calculations

A presentation containing audio appears below, along with a text transcript. Use these resources to build your understanding of how to calculate RevPAR.

6
Price Management, The Customer and External Factors
7
Competitors, Stay Controls and Getting It Right

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Introduction to Hotel Revenue Management