Learn how to manage the revenue of a hotel, analyse the competitive market, and boost income and profitability.

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  • Duration

    4 weeks
  • Weekly study

    3 hours
  • 100% online

    How it works
  • Included in an ExpertTrack

    Course 3 of 4
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Build the skills to forecast, plan, and optimise your hotel’s revenue

Using revenue management to predict customer behaviour can allow a business to optimise incomes and improve profitability through pricing.

On this four-week course from the Universidad de Palermo, you’ll learn the basic concepts of revenue management and discover the best processes to prepare forecasts, benchmarks, pricing strategies, and much more.

You’ll start by delving into the basics of revenue management and understanding its competitive potential in the hospitality sector.

Then, you’ll widen the focus to look at the hotel market as a whole; analysing the trends of the industry, both in consumers and competitors. By learning the behaviour of the hotel market, you’ll be able to better predict and plan for changes in the sector.

Develop strategies and tools for hotel revenue management

There are many tools you can use to analyse the market and make informed revenue decisions. From demand forecast to price elasticity on demand, you need a robust strategy and toolset to optimise your profitability in the hospitality industry.

Throughout this course, you’ll gain the skills to analyse the market and identify when to make changes in pricing to improve both income and profitability.

Discover the benefits of market segmentation and competitive positioning

There are many different ways to obtain and analyse market information to better predict your strengths and weaknesses as a business. You’ll evaluate these different methods and techniques before learning the importance of market segmentation.

By the end of this course, you’ll be able to plot a competitive map and develop strategies to effectively position your business’s price points.

Syllabus

  • Week 1

    Revenue management: Evolution, development and application

    • Revenue management evolution. Do you have any notions about what revenue management is in the organization?

      In this activity, the origin of the Revenue Management technique is addressed, and in what way the concept and the technique have been mutating, until reaching the current concept.

    • What to do when, in the organization, there is opposition to using this technique

      In this activity, we'll observe the resistance that occurs when applying a technique for the first time.

    • End of Week 1

      Review and evaluation of the contents covered during the week.

  • Week 2

    Market analysis and competition, competitive set and KPIs

    • Market research, customer needs, and similar or substitute services

      We will address the understanding of what the market is, how it is composed, who are the members, who are the customers, what purchasing power they have, and the number of similar and substitute services with which it competes.

    • Competitors' study: Who are they and how many are there?

      In this activity we will discover the importance of knowing who or who our competition is. In addition, we will address how to investigate who is in the market to know what type of products or services they offer.

    • Competitive set formation. So what is that? 

      This activity introduces us to the concept of competitive set or training through an agreement between establishments that mainly offer similar services to our establishment.

    • Performance indicators

      This activity brings us closer to the internal establishment study through the indicators information and also allows us to develop indicators for comparison with the competitive set.

    • Review

      In this activity you'll be able to test your knowledge and then we will review the topics we've seen during the week.

  • Week 3

    It's all about forecasting and pricing

    • Demand forecasting, projections, overbooking, forecasting and capacity management

      This activity will introduce us to the notion of demand forecasting and related concepts: evaluation of historical data, demand calendar, overbooking, forecasting, behavior of reservations, cancellations, etc.

    • Pricing, fixing prices and different types

      This activity will cover the price universe: pricing, price setting, pricing strategies, factors that influence pricing, price elasticity, among many other concepts.

    • The third week is coming to an end

      We'll end the week by reviewing all the content we've viewed and testing the knowledge covered.

  • Week 4

    Distribution channels and software support for revenue management

    • Distribution function: Current trends in hospitality and tourism

      What does distribution mean? What are the channels? Why is it important to decide whether to have or not have distribution channels?

    • Software and computer programs

      What programs help the manager in their actions? In what part of their activities can these programs intervene to help you make correct decisions regarding income?

    • End of this course, final evaluation activity and closing

      Approach to the knowledge we've seen and what reflections this experience leaves us with.

Prove you're job ready

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  • Learn the latest in your chosen industry or subject.
  • Complete each course and pass assessments.
  • Receive certificates validated by the educating organisation.
  • Impress employers with learning outcomes you can add to your CV.
  • Make your career dreams a reality.

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Learning on this course

On every step of the course you can meet other learners, share your ideas and join in with active discussions in the comments.

What will you achieve?

By the end of the course, you‘ll be able to...

  • Explain the basic concepts of Revenue Management and what its competitive potentialities are.
  • Explore the behavior of hotel market, and trends of the new type of consumers and competencies.
  • Identify strategies to optimise incomes and business profits, as well as the optimisation and profitability on distribution channels.
  • Compare the most important tools used in online marketing and e-Commerce for Revenue Management.
  • Evaluate between different techniques to obtain market information.
  • Investigate the benefits of market segmentation, choosing the right competitive map and subsequent positioning in terms of price.
  • Reflect on your own practices.

Who is the course for?

This course is designed for anyone with an interest in the tourism and hospitality sector. It will be especially useful to university students currently studying hospitality or for any professionals in the industry.

Who will you learn with?

Francisco Donato, Certified Public Accountant, Licentiate in Demography and Tourism. He teaches Revenue Management and Integration Seminar I at Universidad de Palermo, School of Business.

Who developed the course?

Universidad de Palermo

Universidad de Palermo is global university based in Argentina, recognised as one of the best and most innovative in Latin America.

About this ExpertTrack

Discover the world of hospitality management and build the skills to effectively plan events, optimise revenue, and manage a team.

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