Managing a Hotel Revenue Management function

Managing the Hospitality Revenue function

For General Managers and Directors who manage the Revenue function

  • Start anytime

  • Study anywhere

  • Practical skills

  • Be job ready

  • Affordable from US$85*

  • Pathway to Certificate program

  • 12 Months Access

  • Globally recognised

 

How to manage the Revenue Management function in Hospitality

The role of the revenue director has evolved.  He/she can be a valuable ally when you’re looking to increase your ROI, lower costs, and when you’re dealing with the owners or corporate head office.  For a property General Manager or Hotel/Resort Manager, Owner, and Executive team, the revenue management discipline is a very important one, but is often not well understood.

This course will enlighten you on how the Revenue function works, what they need from leaders to optimise their performance and what the revenue function should be doing for you.  How can the Revenue Leader (RL) help you?  We list different scenarios, what the RL should be doing in each scenario, and how you should leverage the Revenue leader to optimise results.

Forecasting can be a key driver of marketing strategy, commercial performance, and operational improvements.  Find out why you should be forecasting and what should you do with the forecast to improve your business.  Learn about how pricing decisions should be made and how you can help the revenue team improve their decision-making.

Lastly, a detailed guide on how to improve your hotel’s performance by having regular, well-structured Revenue Meetings.

Outcomes:

  • Improved leadership skills in managing this increasingly important function specifically in the hospitality/accommodation business.

NOTE: If you’re looking for guidance on recruitment, roles, structure & culture in the revenue area, please check our course on “Recruiting, Managing & Retaining Hospitality Revenue people

 You will learn
  • Rate Parity – what is it; and what can you do about the challenges;
  • Forecasting – should be a fabulous tool for the whole Executive team;
  • Pricing – how should pricing decisions be made, how can leaders support this function
  • To learn what role the Revenue Meeting has in hotel operations and how you can support this to improve the hotel’s performance.
  • In different scenarios, what should the Revenue leader be doing, and how they can help you improve results.
  • Preparing for Automation – To understand the tools and support your revenue professionals need to provide an excellent service to the property.

  • This course can be a standalone course for hotel and hospitality professionals wanting to learn about the methods hoteliers can use to manage and develop the revenue management function under their management
  • You could be an asset owner, management company, general manager, holiday rental agent or hotelier looking for best practice from the industry body
  • This course serves as a learning base for those who wish to do further study on any strategic marketing or commercial areas
  • Hotel professionals wishing to learn more about managing the commercial area of a hotel or any accommodation business
  • Those pursuing the HSMAI “Certificate in Business Acumen (Hospitality)”

This course is created by Hoteliers, for Hoteliers. The leaders in hotels around the world have worked together to create a curriculum for people looking to grow their general management skills and acumen. The authors of this course are the HSMAI Revenue Advisory Board who develop best practice for hoteliers around the world as well as some select Revenue Consultants who manage many different types of properties and have a broad perspective of experience.  HSMAI has valuable volunteers serving on our Advisory Boards that make these amazing courses possible.  Learn from the best.

  • HSMAI Members pay only US$85 for this course
  • Non-members pay only US$99 for the single course
  • The course counts as credit towards earning a Certificate in Business Acumen (Hospitality)
  • 12 months online access to course material
  • Globally recognised, HSMAI accredited course

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Managing a Hotel Revenue Management function
Managing a Hotel Revenue Management function
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