Prof. Horatiu Tudori
Rooms Revenue Management
- USD 1,225 / AED 4,500 Per Participant
Revenue Management(RM) is about a different way of “thinking” business. It has been developed and implemented for more than twenty years by creative executives and managers who “have learned to predict customer demand at the micro-market level & to respond rapidly, as demand changes. They have learned to convert market uncertainty to probability & probability to profitability”. There is inherent uncertainty associated with future demand & market conditions for any hotel in the world. What resource allocation decisions would maximize total overall profits as opposed to room nights or room rate alone? Revenue management provides a set of guiding principles which govern this decision process.
In this module, we will discuss the essentials of RM philosophy & associated systems, methods & applications. By the end of the course the participants will be able to make sound & effective revenue management decisions, & to defend their solutions & decisions. The module combines interactive lectures, & hands-on exercises & “revenue optimization games”.
By the end of the Module, participants will be able to:
• Identify fundamental information for application in revenue management
• Explain the building blocks & key concepts of revenue management
• Elaborate the tactical use of revenue management
• Apply specific segmentation for revenue management
• Apply basic revenue management techniques
• Analyze & make decisions from a revenue management perspective
• Evaluate the daily tasks of a revenue manager & their impact on hotel’s business & its customers
• Quantify the impact of revenue management
• Appreciate the customer price-value relationship & the effect different levels of pricing have on demand
The module is organized as a mix of short lectures, in-class exercises & short case studies, & debates between the participants.