Future RM & Dm Workshops
2 Day workshops in Revenue Management (RM) and Digital Marketing (DM) will be scheduled and listed on this page. No further workshops are planned for 2019. next trainings will be in 2020.
You earn a 10% discount on these trainings if you 'like' https://www.facebook.com/RevenueMakers before the training.
Cost includes all learning materials, two coffee breaks and lunch on both days.
Workshop are conducted in English.
Revenue Management training brings your senior staff up to speed with what they need to know to maximise revenues for your business.
The workshop teaches the principles of revenue management to rooms, and introduces the key internal and external performance benchmarks used to measure the success of revenue management strategies. The workshop provides guidance on how to use and interpret benchmark reports including Hotstats and STR reports, and builds up the knowledge required to create a revenue management dashboard. This includes market segmentation, creating a value-based flexible pricing strategy and a forecasting dashboard. The workshop focuses on practical application of the steps required to implement effective revenue management in an organisation, the skills to communicate revenue management strategies to the hotel team, and supporting reports to use on a day-to-day basis, ensuring a rapid return on workshop investment. By attending this workshop delegates will learn:
•The principles of revenue management as applied to rooms revenue management
•The key performance indicators of rooms revenue management and profitability
•How to interpret benchmark reports such as STR
•The principles of value based pricing and how this applies to a best available rate strategy
•How to set up a revenue management programme within an organization and the supporting reports required
•How communicate rooms revenue management to the wider executive team
Topics covered
•The core concepts and key characteristics of revenue management
•Creating an operational road map and putting revenue management into practice through efficient operational steps
•The break-even point and profitability
•The impact of fixed and variable costs
•Market segmentation and creating profit opportunity through customer definition
•Internal and external performance measurements in revenue management and how to calculate them including Occupancy, ADR, and RevPAR
•Price Elasticity of Demand
•Understanding demand and working with demand drivers
•An introduction to value based pricing and pricing models
Practical examples, group work and discussions are integrated throughout the two days to ensure each areas is explored and thoroughly understood.
