Revenue Management has contributed millions to the bottom line, and it has educated our people to manage their business more effectively. When you focus on the bottom line, your company grows.
— Bill Marriott Jr., Chairman and CEO, Marriott International —
Revenue maximization is the logical way to address profitability challenges in the hotel industry. Hotels need to drive top-line revenue to cover expenses and allow for profit. A solid understanding of revenue management’s key concepts and the selective application of its most effective strategies and tactics have become mission critical for most hospitality operations. This course explores the applicability of revenue maximization strategies and their operational aspects, and provides readers with a concise overview of this important discipline.
*No pre-requisites or time on job required. This certificate is open to anyone interested in learning the proper use and importance of revenue management in hospitality operations and the wide range of elements that must be considered in order to use revenue management effectively.
- 100% Online program
- Start anytime
- Finish at your own pace
- Includes textbook & all course materials
- Certificate awarded after successful completion
At the completion of this course, students should be able to:
- Explain the concept of revenue management and the history of its development.
- Identify the business traits that create the environment appropriate for the use of revenue
- Distinguish between strategic and tactical revenue management and explain why this distinction is important.
- Identify internal and external measures that can be used to judge a property’s performance.
- Discuss the challenges that managers have in determining the effectiveness of revenue management tactics and strategies.
- Explain how forecasting demand and room availability drives tactical revenue management.
- Identify ways to implement tactical rate management and stay controls to maximize hospitality revenue.
- Define capacity management and how to use it for revenue management.
- Perform and use displacement analysis.
- Explain how revenue management plays a role in generating demand and creating marketing strategies for a hospitality property.
- Explain how strategic pricing and revenue streams management contribute to revenue management efforts at the strategic level.
- Identify opportunities for strategic packaging and ways to manage distribution channels for the greatest effect.
- Describe the capabilities of automated revenue management systems.
Obtaining the Revenue Management Certificate was exactly what I needed to really hone in and stop the bleeding at my property. Within 2 months, we increased our ADR and better position ourselves within our comp set amongst other things. I’d highly recommend anyone considering to take this course.
Terry M. Director of Revenue Management