Professional Certificate in Operational Revenue Management (Mar '22 Intake)

The Operational Revenue Management course is designed to broaden and deepen your skills and knowledge by applying RM principles. The Institute of Hospitality has endorsed this ever-popular course in recognition of good practise standards in training and training delivery. Your learning will be at your own pace enabling you to balance your professional development with other commitments.

• Reservations Managers, Revenue Managers and General Managers.
• Experienced hospitality professionals looking to develop their understanding of RM.
• Any learner progressing from the Foundation Certificate (exemptions available).

• Differential Pricing.
• Customer-centric revenue management.
• Forecasting demand.
• Sales and marketing planning.
• Advanced Inventory Management.
• Real-life, practical case studies and examples.

Module 5 – Pricing & the Customer

• Revenue management and customer-centric revenue management
• Pricing theories in the hospitality industry
• The application of differential pricing
• Customer conflict, trust and fairness

Module 6 – Forecasting Demand

• Reasons for forecasting
• Supply, demand, unconstrained demand forecast, constrained demand forecast
• Methods used to create a short-term forecast
• Process steps for modifying a demand forecast
• The impact of short-term changes to the unconstrained demand forecast
• Trends in demand and opportunities to optimise hotel performance
• Pick up reports, booking curves and demand dashboard data
• Practical data in forecasting

Module 7 – Advanced Price and Inventory Management

• Inventory and price management with new technologies
• Total revenue management for different market segments
• Selling strategies to manage the transient market
• The group booking process
• Materialisation, group wash, displacement analysis and the minimum price to quote
• The management of different types of contracts for intermediaries
• Techniques of Expected Marginal Revenue (EMR) to maximise revenue opportunities
• Overbooking in a revenue management strategy
• Inventory management issues and customer conflict

Module 8 – Sales and Marketing Planning

• The marketing discipline and what is marketing
• Product, branding and the product life cycle
• Promotion tools and their advantages and disadvantages
• Promotional tools effectiveness by market segment
• Tools and activities that can be used for inbound and online marketing
• The marketing planning process and the key steps within it
• How to implement a marketing plan

 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.

INCLUDES ONLINE ACCESS TO THE JOURNAL OF REVENUE AND PRICING MANAGEMENT

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