Learn the difference between strategic and tactical revenue management and why that distinction is critical, the tools that are available to revenue managers and when to use them, the broad range of information needed to effectively maximize revenue, vital issues to consider before implementing revenue management tactics, how revenue management is often misunderstood and applied inappropriately, the significant potential consequences of using revenue management poorly, as well as the benefits it can provide when done well.
Revenue Management: Maximizing Revenue in Hospitality Operations
Learn the difference between strategic and tactical revenue management and why that distinction is critical, the tools that are available to revenue managers and when to use them.
What is Included?
- Study plans with flexibility of time and space.
- Globally recognized and verifiable Certificates and qualifications.
- Premium subscription to GPDP Learning Resources worth US$250.
- Premium subscription of Typsy–Australia worth US$96. (Video Training Courses)
- Premium subscription to Internships & Placements Program to build your resume, and prepare for job interviews, with our AI-based video interviewing platform to land the job you want.
- Lifetime membership of COTHM Community of Hospitality Students & Professionals.
- Lifetime access to Online Events Portal to attend webinars and talks by industry experts
- Career Pathway & Education pathway counseling
Criteria
Am I eligible for this progamme?
This course is most suited to individuals who are at least 16 years old, have a high school education.
English Proficiency
Candidates who do not have English as a first language will have to demonstrate competence in reading, writing, and listening skills in English.
About this Course
Education Path
After successful completion of this professional qualification any of below certification path:
- Continues to gain more Hospitality Certifications
- Continue with Hospitality Specializations
- Continue with Hospitality Fundamentals Program
- Continue with Hospitality Management Diploma
Career Path
Getting certified gives you the skills needed to prepare you for the wide-open world of hospitality. Once you have graduated, you can take several paths to apply your degree.
- Food and Beverage Management
- Rooms Division Management
- Marketing Management
- Destination Management
- Human Resources
- Resort Management
- Club Management
- Travel and Tourism Management
This certification can help you grow faster in your existing career as well can open new career opportunity in the following industry sectors:
- Hotels
- Motels
- Restaurants
- Fast Food Chains
- Café
- Catering Companies
- Event Management Companies
- Travel & Tour Operators
- Airlines
- Clubs
- Cruise Ships
Assessment
Proctor Required: Yes
Number of Examinations: 1
Number of Questions per Course: 200
Time Allowed per Course: 240 minutes
Passing Score: 70%
- A moc exam is provided before the candidate appears in the final examination
- A one week notice is required to schedule the final examination
- All examination are held invigilated by COTHM administration
Awarding Body
Upon successful completion, the candidate will be awarded with:
- Certification by American Hotel & Lodging Educational Institute.
Syllabus
Chapter 1: What Is Revenue Management?
1. A Brief History
2. Criteria for Effective Use
a. Fixed-Capacity Environment
b. Perishable Products
c. Varied but Predictable Demand
d. High Fixed Costs and Low Variable Costs
Chapter 2: Measurement
1. Internal Measures
a. Revenue
b. Occupancy Percentage
c. Average Daily Rate
d. RevPAR
e. Contribution Margin (Net Revenue)
f. Identical Net Revenue
g. Marginal Revenue Considerations
h. GOPPAR
i. Other Measures
2. External Measures
a. Competitive Set
b. Market Share
c. The Use of Market Intelligence
3. Measurement Challenges
Chapter 3: Tactical Revenue Management
1. Forecasting
a. Forecasting Demand
b. Forecasting Room Availability
2. Tactical Rate Management
a. Rate Structure
b. Tactical Discounting
c. Dynamic Pricing
3. Stay (Duration) Control
a. Minimum Stay Requirements
b. Stay Through
c. Close to Arrival
4. Capacity Management
a. Preventive Measures
b. Reclaiming Rooms
5. Displacement Analysis
Chapter 4: Strategic Revenue Management
1. Demand Generation
a. Differentiation
2. Marketing Strategies for Revenue Management
a. Market Segmentation Methods
b. Market Targeting
c. Market Positioning
d. Promotion
e. Customer Relationship Management
f. Market Mix Management
3. Strategic Pricing
a. Competing on Price
b. Rate Parity
4. Revenue Streams Management
5. Strategic Packaging
a. The Package Development Process
b. The Objective of Packaging
c. Packaging and Segmentation
d. Packaging and Revenue Streams Management
6. Distribution Channel Management
a. Voice Channels
b. GDS Channel
c. Internet Channels
Chapter 5: Revenue Management’s Place in Hotels
1. Revenue Management: Automated Systems
a. Capabilities of Automated Systems
b. Cultural Challenges of Automation
c. System-Integration Challenges
2. The Revenue Manager
a. Task Lists and Competencies for Revenue Managers
