Nowhere in the world currently, is the rise of Revenue Management more evident than in Africa! From the multi-billion dollar hotel chains to the influx of thousands of independently run hotels, lodges, management companies, as well as asset management companies, whom are all redefining traditional Revenue Management within the international community. At the same time, mobilised in part by the accelerated development of technology, a rise in importance of “online presence” has developed the “Revenue Management” function into a pivotal role that hotels must master.
All industries are competitive, however, the hospitality and tourism industry more competitive than most. We are in an industry which experiences very high fixed costs and we have to think of ways in which we can cover these expenses, no matter how lean we have to make ourselves.
Revenue Management is the use of streamlined optimization methodologies, in order to boost revenues and increase the company’s profitability.
This dynamic course investigates the deepening importance of Revenue Management in the every day hotel, providing participants with insight and skills into the opportunities and challenges posed by Revenue Management on a global scale.
Key themes to be addressed during this dynamic course include:
– How has Revenue Management developed into what we know it as today and what are the key elements in the decision making processes of a Revenue Manager.
– Optimizing your distribution strategy and implementing systems that support this strategy.
– The importance of a strong Revenue Management Culture in an organization.
– The importance of accurate forecasts, inventory management and pricing models.
– A Review of the best Revenue Management systems and Reputation management systems available to hotels.
– Handy OTA Extranet Tricks that can make a quick difference.
We are really looking forward to taking you on this Revenue Management Journey!