Hotel Management Revenue Management for Beginners
What you’ll learn
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.
Requirements
Basic understanding of business
Description
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.
Overview
Section 1: Introduction of the instructor and to the course
Lecture 1 About your instructor
Lecture 2 Introduction to the course
Section 2: Definition and a chronological history of Revenue Management
Lecture 3 Definition of Revenue Management
Lecture 4 Chronological History of Revenue Management
Section 3: Getting started
Lecture 5 Principles and fundamentals of Revenue Management
Lecture 6 Revenue Management Cycle
Section 4: Market Segmentation
Lecture 7 Types of Market Segments
Lecture 8 Segment Mix
Section 5: Pricing Strategies
Lecture 9 Types of Pricing Strategies
Lecture 10 Forecast Based Pricing
Lecture 11 Segment Based Pricing
Lecture 12 Parity Strategy
Lecture 13 Discounting
Lecture 14 Flash Sales
Lecture 15 Upselling and Cross Selling
Section 6: Reputation Management
Lecture 16 About Reputation Management
Lecture 17 Net Promoter Score – NPS (Active | Passive | Neutral)
Lecture 18 Reputation Performance Score
Lecture 19 Tripadvisor
Lecture 20 Google Reviews
Lecture 21 Local Measure
Lecture 22 Facebook and Instagram
Lecture 23 TikTok
Lecture 24 Linkedin
Lecture 25 Online Food Delivery Apps
Lecture 26 Online Travel Agents (OTAs)
Section 7: Tools
Lecture 27 Tools for Revenue Management
Lecture 28 Global Distribution System (GDS)
Lecture 29 Revenue Management Systems (RMS)
Lecture 30 Online Travel Agents (OTAs)
Lecture 31 STR – Smith Travel Research Report
Lecture 32 Channel Management Tools
Lecture 33 Property Management Systems (PMS)
Section 8: Calculation of basic indicators and matrices
Lecture 34 Basic indicators and matrices
Lecture 35 Room Occupancy
Lecture 36 Average room rate (ARR) or Average Daily Rate (ADR)
Lecture 37 Revenue Per Available Room (RevPar)
Lecture 38 Average Length of Stay
Lecture 39 Revenue Per Available Square Foot | Square Meter (RevPas)
Lecture 40 Market Share
Lecture 41 Market Penetration Index (MPI)
Lecture 42 Average Rate Index (ARI)
Lecture 43 Revenue Generation Index (RGI)
Lecture 44 Cost Per Occupied Room – COPOR
Lecture 45 Gross Operating Profit (GOP)
Section 9: Restrictions
Lecture 46 Introduction to Restrictions
Lecture 47 Minimum Length of Stay (MLOS)
Lecture 48 Maximum Length of Stay (MaxLOS)
Lecture 49 Closed to Arrival (CTA)
Lecture 50 Closed to Departure (CTD)
Lecture 51 Stay-Through Restriction
Section 10: Other concepts of Revenue Management
Lecture 52 Other concepts of Revenue Management
Lecture 53 Over Booking
Lecture 54 Food & Beverage Allocation
Lecture 55 Total Hotel Revenue Management (THRM)
Lecture 56 Rational Pricing
Lecture 57 Displacement Analysis
Lecture 58 Dynamic Pricing
Section 11: Closing note
Lecture 59 Closing note
Section 12: Bonus Section
Lecture 60 Career in Revenue Management
College students,Revenue Management Professionals,Hotel Management Students,Hospitality professionals,Travel & Tourism professionals,Sales and Marketing Professionals,Hotel General Managers
Course Information:
Udemy | English | 1h 53m | 826.29 MB
Created by: Bijoy Sengupta (Marriott | Accor | FRHI | RateTiger)
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