Intro to Revenue Management

The aim of this course is to develop a critical understanding of Revenue Management
techniques and how to apply them in your business. Delegates will understand what is required to begin to develop a revenue management culture within their organisation.

Application of Revenue Management
Whilst there are many definitions of Revenue Management, at the end of this module delegates
will be able to explain the core concepts of Revenue Management and how suitable industries /
products can benefit from the application of this theory. Topics include:
- What is Revenue Management?
- Core concepts of Revenue Management
- Which Industries can you apply RM?
- Implementation of RM practices

Segmenting the Market
Targeting specific market segments is an important component of Revenue Management. This
module examines how to segment your business and explores tactics that can be implemented to increase revenues. Topics include:
- What is Segmentation?
- Types of Segmentation?
- Benefits of Segmentation?
- Segmentation Tactics

Revenue Performance and Analytics
Understanding business performance and your position in the market has never been more
important than today. This module explains key Revenue Performance Indicators (KPI’s) within
the industry and how to make decisions using this information. Topics include:
- Understanding performance – why it’s important.
- What are KPI’s and how to create them?
- Key Internal Metrics – ADR, Occ, RevPAR, TrevPAR,
- External Metrics – ARI, MPI, RGI, Index

Business and Market Intelligence
Decisions should be made using data and intelligence rather than just “gut feel”. In this module, delegates will learn what information is available internally and externally to help make more informed decisions. Topics include:
- What is Business Intelligence?
- What is Market Intelligence?
- Use of BI / MI in decision making
- Benchmarking tools and reporting – a brief over view

Basic Forecasting Applications
Accurate forecasting is crucial to making informed future decisions, and this module is aimed at ensuring delegates are aware of basic forecasting processes which should be carried out. Topics include:
- Forecasting versus Budgeting
- Long and Short term forecasting
- Creating a forecast
- Forecast outputs as a basis for RM tactics

Principles of Yield Management
Our earlier module explains the core concepts and environments when Revenue Management is beneficial. In this module delegates take a deeper look at basic economic theory and how
Revenue Management Systems apply these principles. Topics include:
- Yield Management Tactics and when to apply them
- The impact of Inventory Management Controls on the business
- Introduction to Supply and Demand Management
- Introduction to the concepts of Price Sensitivity
- Inventory Management Control

Who is this course for?

Anyone who would like to understand the core principles of revenue management and how to
apply the principles to their business.

Price
£399 + VAT - 2 days