4.17 out of 5
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Hotel Management – Revenue Management for Beginners

Hotel Revenue Management | Concepts of Yield Management | Market Segmentation | Pricing Strategies | Tools | Indices |
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.

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.

Introduction of the instructor and to the course

1
About your instructor

Get to know the instructor and what your learnings will be.

2
Introduction to the course

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.

Definition and a chronological history of Revenue Management

1
Definition of Revenue Management
2
Chronological History of Revenue Management

Getting started

1
Principles and fundamentals of Revenue Management
2
Revenue Management Cycle

Market Segmentation

1
Types of Market Segments
2
Segment Mix

Pricing Strategies

1
Types of Pricing Strategies
2
Forecast Based Pricing
3
Segment Based Pricing
4
Parity Strategy
5
Discounting
6
Flash Sales
7
Upselling and Cross Selling

Reputation Management

1
About Reputation Management
2
Net Promoter Score - NPS (Active | Passive | Neutral)
3
Reputation Performance Score
4
Tripadvisor
5
Google Reviews
6
Local Measure
7
Facebook and Instagram
8
TikTok
9
Linkedin
10
Online Food Delivery Apps
11
Online Travel Agents (OTAs)

Tools

1
Tools for Revenue Management
2
Global Distribution System (GDS)
3
Revenue Management Systems (RMS)
4
Online Travel Agents (OTAs)
5
STR - Smith Travel Research Report
6
Channel Management Tools
7
Property Management Systems (PMS)

Calculation of basic indicators and matrices

1
Basic indicators and matrices
2
Room Occupancy
3
Calculate the occupancy of this 250 room hotel
4
Average room rate (ARR) or Average Daily Rate (ADR)
5
Calculate the ARR or ADR
6
Revenue Per Available Room (RevPar)
7
Calculate the RevPar
8
Average Length of Stay
9
Calculate Average Length of Stay
10
Revenue Per Available Square Foot | Square Meter (RevPas)
11
Market Share
12
Calculate Market Share
13
Market Penetration Index (MPI)
14
Calculate MPI
15
Average Rate Index (ARI)
16
Revenue Generation Index (RGI)
17
Cost Per Occupied Room - COPOR
18
Gross Operating Profit (GOP)

Restrictions

1
Introduction to Restrictions
2
Minimum Length of Stay (MLOS)
3
Maximum Length of Stay (MaxLOS)
4
Closed to Arrival (CTA)
5
Closed to Departure (CTD)
6
Stay-Through Restriction

Other concepts of Revenue Management

1
Other concepts of Revenue Management
2
Over Booking
3
Food & Beverage Allocation
4
Total Hotel Revenue Management (THRM)
5
Rational Pricing
6
Displacement Analysis
7
Dynamic Pricing

Closing note

1
Closing note

Bonus Section

1
Career in Revenue Management
You can view and review the lecture materials indefinitely, like an on-demand channel.
Definitely! If you have an internet connection, courses on Udemy are available on any device at any time. If you don't have an internet connection, some instructors also let their students download course lectures. That's up to the instructor though, so make sure you get on their good side!
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Includes

2 hours on-demand video
Full lifetime access
Access on mobile and TV
Certificate of Completion

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Hotel Management – Revenue Management for Beginners
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