Foundation Certificate in Revenue Management (Mar '22 Intake)

Our industry-leading experts have developed this introductory revenue management course to offer a broad understanding of revenue management to a wide range of hospitality professionals. The Institute of Hospitality has endorsed this ever-popular course. Your learning will be at your own pace, enabling you to balance your professional development with other commitments. 

• Reservations teams, Room Division Managers, and Sales Managers.
• Hospitality professionals new to Revenue Management, looking to explore the fundamentals.
• Exemptions available depending on experience.

• Understanding supply and demand.
• Establishing prices & analysing demand.
• Applying the Price Value Matrix.
• Managing inventory, price & distribution.
• Performance measurement and evaluation of results.
• Real-life, practical case studies and examples.

 Learn from home at your own pace.

 Online support from our industry-leading experts.

 Structured learning with regular assessments and progress feedback.

 Opportunity to collaborate with other learners in our online learning space.

 Free HOSPA membership.
 Discounted access to HOSPACE.

 Discounted access to the annual HOSPA learner awards.

 Textbook: Revenue Management for the Hospitality Industry.

INCLUDES ONLINE ACCESS TO THE JOURNAL OF REVENUE AND PRICING MANAGEMENT

Module 1 – Introduction to Revenue Management

• Define revenue management and its application
• The revenue management process
• Constructing demand calendars
• Business on the books and accurate data
• The link between the disciplines of marketing and revenue management

Module 2 – Establish Prices & Forecasting Demand

• Core components of pricing and its impact on value perception
• Value matrixes
• The role of the revenue manager in developing budgets and forecasts

Module 3 – Managing Inventory, Price & Distribution

• Market segmentation
• Optimal segmentation mixes
• ‘Stay controls’, ‘Fences’ and ‘Overbooking’ in inventory management strategy
• The 12 Principles of Inventory and Price Management
• Distribution channels and the internet
• Distribution strategy and direct versus indirect channels

Module 4 – Performance Management & Evaluating Results

• The purpose and key components of management reports
• The benefits and common problems of performance measurement
• Internal and external KPI’s and their use within the hotel industry
• ‘Market Share’ and ‘Fair Market Share’
• Ratios and variances in order to measure performance
• Cost behaviour and implications for profitability
• The use of spreadsheets for analysis purposes

 Duration: Five Months
 Format: Online / Tutor-Led
 Pace: 4-5 Hours per week
 Experience: Entry
 Intake: March or September