Elective Module - Revenue Management For Meeting Space
An elective module for those who have already completed the Revenue Management programme.
Description
This elective module has been created for those who have an understanding of Rooms Revenue Management and need to develop their knowledge of how this can be related to Meeting Space.
This elective explores how revenue management strategies can be effectively applied to meeting and events space. Learners will examine the relationship between traditional Rooms Revenue Management and M&E, highlighting key differences such as demand patterns, pricing strategies, space optimisation, and KPIs.
Learning culminates in a written assignment, allowing students to apply theoretical concepts to their own business.
The module is open to those who have already studied or are studying the HOSPA Foundation Certificate in Revenue Management and will cover the key differences between Rooms and Meeting Space.
Areas Covered
The Basic Principles of Revenue Management
Understanding Demand and Diary management
Market Segments and Event Types
Pricing
How we measure success
Benefits
Learn from home at your own pace.
Online support from our industry-leading experts.
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.
Digital textbook and case study based assessment
Detailed Syllabus
Week One: The Basic Principles of Revenue Management
How RM is important to the profitability of Meeting Space and how it can be applied. Identify the differences between Rooms RM & M&E RM. Learn what processes need to be put in place to maximise opportunities
Week Two: Understanding Demand and Diary Management
What effects demand for space, and an introduction to basic diary/space management. Optimising space and preventing blocked dates
Introduction to Forecasting
Week Three: Market Segments and Event Types
How are customers and events segmented.
Booking cycle from enquiry to event: booking status
Week Four: Pricing
Basic pricing principles for M&E and building pricing strategies.
Week Five: How we measure success
An introduction to the KPIs used to determine performance including sales conversion. Understanding the data
Overview
Duration: Five Weeks Format: Online / Tutor-Led Pace: 4-5 Hours per week
Experience: Entry
Intake: March
Similar courses available soon:
Foundation Certificate in Revenue Management for Meeting Space
Professional Certificate in Revenue Management for Meeting Space
Who is it for?
Those who have already completed the Revenue Management programme.
Similar courses available soon:
Foundation Certificate in Revenue Management for Meeting Space
Professional Certificate in Revenue Management for Meeting Space