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Revenue Management for Department Heads and Managers

Ready to level up? Take your department’s profits to the max. Learn the strategies and skills to maximise revenue for your hotel, no matter which department you lead. This engaging, interactive course will empower you with the tools you need to stay ahead of the competition.

COURSE DESCRIPTION

Are you looking to increase your hotel's revenue and improve its overall performance? Do you need help understanding the key concepts of hotel revenue management and how to apply them in your department? Learn the latest tools and techniques to help you analyse market trends and competition and develop effective pricing strategies.

This revenue management course for beginners is an essential programme for hotel department heads seeking to boost their revenue. Through a series of interactive modules, participants will learn about the necessary conditions for revenue management success, including market analysis and segmentation, day-of-week and special events analysis, and competitor analysis.

Designed to be engaging and interactive, this course will develop your skills with quizzes, activities, a simulation game and opportunities to reflect on and apply the material. By the end of the course, you’ll have a comprehensive understanding of hotel revenue management and the skills to implement effective strategies in your own area of expertise.

Upon completion, you’ll be able to implement what you’ve learned directly into operations. Walk away with an invaluable ‘Swiss Army Knife Tool’ formula sheet to help you envision an array of financial scenarios and make the most profitable decisions for your property’s future.

WHO IS THIS COURSE FOR?

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Department Heads

Leaders of departments such as: front office, finance, reservation, housekeeping, and food and beverage
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Hotel Professionals

Individuals, in any job role, who are looking to improve their understanding of revenue management in order to increase hotel revenue and overall performance
AIHM_RevenueManagement

WHAT YOU'LL LEARN

  • The essential concepts of hotel revenue management, including the necessary conditions for success and the history of yield management.
  • How to measure success in hotel revenue management using RevPAR and the basic formula.
  • The importance of day-of-week analysis and special events in hotel revenue management and how to develop strategies to maximise revenue during these events.
  • How to analyse and understand the competitive landscape of the hotel industry, including researching and identifying key competitors and how to develop a unique and sustainable competitive advantage.
  • Ways to apply the knowledge gained in the course – building applied skills through quizzes, activities, the Swiss army knife tools, and a customised simulation game.

COURSE OUTLINE

This course consists of 
0
Learning hours
0
Modules

Module 1: What is hotel revenue management?

  • Necessary conditions for revenue management
  • Tool: Six necessary conditions
  • Know your market
  • Segmentation of markets: From country, source to market segment
  • Swiss Army Knife Tool: Where can YOU do revenue management

Module 2: Measuring success with RevPAR

  • Sheet: Basic formula
  • Hot, warm and cold RevPAR
  • Reflect on RevPAR in your action plan
  • Swiss Army Knife Tool: Formula sheet

Module 3: Day of week and special events

  • Importance of day-of-week analysis
  • Calculate: Setting room rates by day of week
  • Brainstorm: Special events
  • Maximising revenue during special events
  • Measuring and evaluation of results
  • Swiss Army Knife Tool: Evaluation form

Module 4: Competitors

  • Analysing the competitors
  • Methods for identifying and researching competitors
  • Key factors to consider when analysing competitors (e.g. market share, customer base, pricing strategy, etc.)
  • Analysis of competitors’ strengths and weaknesses
  • Developing a unique and sustainable competitive advantage
  • Case study
  • Reflect on competitors in your action plan
  • Swiss army knife: Competitor overview

Module 5: Revenue Management Game

  • How is the game played?
  • How to apply the learning from the game to the real-world
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Trainer

Katja Ruethemann is a highly experienced revenue management expert and the founder and CEO of Revstar, a hotel consultancy firm specialising in commercial optimisation for hotels in the areas of sales, reservations, revenue, and system connection as streamlining operational processes.
With over 20 years of experience in the hospitality industry, including with multinational hotel chains like Minor and Accor and boutique hotels across Europe and Asia, Katja has a wealth of knowledge to share. She began her career managing Front Office and Marketing departments before entering Reservations and Revenue Management. She served as Area Director with Minor International, where she was responsible for regional hotel revenue management, online distribution and central reservations.

Katja also holds a diploma in Architecture and graduated from EHL in 2002. In addition, she has an Analytic Finance and Revenue diploma from Cornell University and Business Consulting and Business Analytics, Finance, and Economic certification from Harvard University. In her free time, Katja enjoys high-adrenaline sports such as Nitrox diving, paragliding, flying and mountain biking.
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"The class was interactive and knowledgeable at the same time. Hearing opinions from my peers helped me a lot as well."

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"Enjoyed this class, good opportunity to learn from classmates as well."

AIHM_RevenueManagement4

"Thank you, teacher Katja for the lesson. I have much fun joining your class and learning a lot of new ideas which can be beneficial for my work."

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"It is a very good exercise which it could help to plan."

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"All good, thank you!"

ADMISSION CRITERIA

Our course is designed for ambitious professionals. There are no admission requirements to enroll in this course. You can come from any sector and bring a host of background experiences.

ADMISSION PROCESS

To enroll, choose the desired intake and fill in your personal details. You will receive an email with the payment link. You are accepted in the course only upon receipt of payment.

DEADLINE

We must receive payment at least five days before the start of the course. Late enrollments can be accepted on a case-by-case basis.

COURSE DATE

22-23 June 2024

0
per course

Taught in English

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BANGKOK CAMPUS

Avani+ Riverside Bangkok Hotel
9th Floor, 257 Charoennakorn Road, Samrae, Thonburi
Bangkok 10600, Thailand

Tel: +66 2 365 6355

PATTAYA CAMPUS

Avani Pattaya Resort
218/2-4, Moo 10, Muang Pattaya, Bang Lamung,
Chon Buri 20260, Thailand

CONTACT US:

contactus@aihm.education

© 2024 Asian Institute of Hospitality Management (AIHM) in academic association with Les Roches