Revenue Management: Maximizing Revenue in Hospitality Operations – ICM UK

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.

Duration

3 to 6 Months

Study Mode

Blended Learning

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​

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.

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: No
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 ICM UK (An Ofqual Regulated Awarding Body.

 

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

Here you can explore all our courses, use smart filters based on qualifications and job functions to look for a course that aligns with your education and career goals.

Please don’t hesitate to connect us and request for more information. We are looking forward to hearing from you and will be happy to serve you.

Visit us to get One-on-One free career counselling from one of our admissions consultant. Click on the link below to get location map.

Scroll to Top