Skip to 0 minutes and 10 seconds When Revenue Management was first applied in hotels, the role of a revenue manager was very tactical in nature. Essentially their role was to open and close a set of pre-defined rates. Fast forward to today when revenue managers are expected to assume a much broader, and more strategic role in the organization. And, part of that role is really thinking about, and figuring out, what prices are right for different market segments.
Skip to 0 minutes and 40 seconds The reality is that even small change in ADR can have a significant impact on revenue performance, so getting your rates right is essential, but its not an easy task! Whether you interested in pursuing revenue management as career, or you are a departmental or general manager who wants to better understand the dynamics of pricing in todays competitive environment, this is the course for you.
Skip to 1 minute and 9 seconds Take this course to learn about how to set prices, and use rate fences to distinguish one rate from another. Grow your understanding of how value plays into pricing decisions. Conduct a value assessment of your property and establish a realistic positioning strategy for your hotel. Learn about the key elements of a successful long-term pricing strategy, and when to leverage tactical pricing for a short-term, immediate revenue impact. I am Breffni Noone and I have had the privilege of teaching revenue management, providing thought leadership in revenue management through my research, and consulting for hotels to improve their revenue performance. I look forward to sharing my expertise with you, and I hope that this course will fuel your passion for revenue management.