This personalized program is designed to enhance knowledge and understanding of revenue management. The program outlines basic revenue maximization principles and best practices in the day-to-day operation. Participants gain the critical tools and strategies necessary to make immediate or future strategic business decisions and maximize revenue potential.

Workshop Objectives:

• To gain an understanding of how to build accurate forecasts of daily room demand with a system for continuous updating
• To learn to develop systems and procedures for rate-setting and promotional packaging with sufficient flexibility to adapt to changes in demand conditions
• To determine cohesive strategies that can quickly respond to varying demand conditions
• To incorporate methods that assess the effectiveness of forecasting tactics, and provide information vital to personnel seeking to improve performance

Topics Covered:

• Defining Revenue Management
• Revenue Management requirements
• Assessing a prospective group
• Understanding supply and demand
• The value of a room
• Shift in market’s perception of value
• Room demand flexibility
• Maximization of daily revenue
• Measurement of potential lost revenue
• Internet rate solicitation

Workshop Format:

• Pre-Workshop Process includes research with management, pre-visits to gather data, to clearly understand existing practices, and to determine the scope of need.
  
• Two-day Workshop is facilitator-led to enhance the understanding of yield management and apply day-to-day operation practices resulting in increased revenue.
  
• Optional One-on-One Follow-Up Consultation Sessions are available to assist in the design, development, and implementation of a functional, ongoing revenue management program.