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Revenue Management

Date: Customized

Revenue Management (RM) is about a different way of managing business based on a very old idea. Every seller in human history has faced RM-type decisions. What price to ask? Which offers to accept? When to offer a lower price? And when to simply “pack up one’s tent” as it were and try selling at a later point in time, or in a different market?

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Duration
Customized

Field
Customized

Format
Customized

Institution
Customized

Language
Customized

Price
Customized

Duration
Customized

Field
Customized

Format
Customized

Institution
Customized

Language
Customized

Price
Customized

Who is the course for?
Customized

Benefits & Tools

Revenue management is the art and science of predicting real-time customer demand and optimizing the price and availability of products to match that demand.
In this module we will tackle the essentials of RM-way-of-thinking including associated methods and some numerical applications. The teams of participants will be challenged to run virtual hotels in direct competition and eventually to learn by doing.
By the end of the seminar the participants will be able to make decisions on rooms revenue management implementation and therefore to pick the low-hanging fruit.

Acquired Knowledge & Skills

Identify the building blocks and key concepts in revenue management
Elaborate some tactical tools in hotel operations
Apply basic revenue management techniques
Understand the performance measures and the effective KPIs in revenue management
Analyze and make combined decisions from a revenue management and marketing perspective
Understand the impact of revenue management decisions on the bottom line
Think “out-of-the-box”, assess the collaboration between managers and departments