In today’s world, the hospitality industry faces ever-increasing competition. Guests are knowledgeable, demanding, and have myriad of brand name properties from which to choose.

In the midst of this competition, you want your property to be as successful as possible. For most managers, staying competitive involves looking for new markets and new customers. But staying competitive can also include analysing your current business, anticipating demand, predicting future business, and adjusting your strategy to meet changing environment.

In short, staying competitive means engaging in “revenue management”. Revenue management involves looking closely at your property’s past performance and developing strategies and tactics to boost the amount of revenue you gain in the future.

The good news is that most managers already practice some form of revenue management. This program will take you more in-depth as you acquire the knowledge and skills needed to generate maximum revenue of your property.

 

Program Objectives

 

After participating this session, attendees will be able to:

 

• Explain the importance of revenue management.

• Identify and analyse historical data found in various reports, resources, and documents.

• Determine your property’s current status and revenue potential.

• Make decisions to improve profitability during critical periods.

• Create accurate annual, monthly, and short-term forecasts.

 

MODULE LEADER