Foundation Certificate in Vacation Rental Revenue Management - Sponsored by Awaze (November '23 Intake)

 A specialised course for those working in the Vacation Rental sector of the hospitality industry. Covering a broad understanding of revenue management from both owner and management company perspectives.   Your learning will be at your own pace, enabling you to balance your professional development with other commitments. 

The course has assessments throughout which are designed to gauge your understanding and application of course material. We employ a mix of written exams and practical evaluations aligned with industry standards.

• 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 in the vacation rental sector
• 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 for a holiday let business
• ‘Stay controls’ and ‘Fences’ in inventory management strategy
• The 12 Principles of Inventory and Price Management
• Distribution channels and management companies
• 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 vacation rental sector
• Ratios and variances in order to measure performance
• Cost behaviour and implications for profitability

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

• Revenue managers, analysts and commercial leaders specialising in the vacation rental sector.
• Holiday park owners, and on-site teams (such as reception or reservations managers).
• Operators corporate office staff.