Hotel Revenue Management: Pricing, Marketing and Distribution
A SnapShot in revenue management, introducing a more collaborative approach to Demand Management.
The course aims to broaden an understanding of Revenue Management, promising some hard work, fun interactive exercises, along with opportunities to network. Attendees will apply their learning by taking part in a competitive web based simulation, responding to business situations, and using market intelligence to make decisions throughout a year of trading. The course will wrap up with an analysis of ‘big data’ together with discussions on future trends in Revenue Management.
The course is designed and delivered by University of Surrey in partnership with SnapShot, a Berlin-based startup which provides analytics for hotel data, stored in the cloud, and presented on an intuitive, actionable dashboard. The School’s Centre for Research and Enterprise offers open and bespoke executive education programmes to meet the increasing demand for industry-specific learning and development.
The partnership between the University of Surrey and Snapshot ensures the course provides attendees with access to the latest in both academic research and industry real time developments in the area of Revenue Management.
You will find yourself in a friendly and mutually supportive atmosphere of interactive discussions, and practical workshops.
The programme will provide attendees with an in-depth understanding of:
- The pillars of Revenue Management: Pricing, Marketing and Distribution
- The key areas that revenue management tackles
- The breadth and types of data available to revenue managers
- The importance of consistent data structure and analysis
- The Key Performance Indicators used in benchmarking and why they are important
- Pricing strategies relative to demand and value and their impact on hotel performance
- The importance of adopting a collaborative approach to managing demand through distribution channels
- Developments in the area of revenue management and current trends
As Revenue Management evolves, it is important for knowledge of the revenue function to be extended across departments. This program will allow you to contribute more effectively to the revenue decisions being made in your hotel and understand how to answer those difficult queries from your customers around pricing.
The course has been developed to suit those who have had little exposure to Revenue Management previously, but have an interest in understanding the role of a revenue manager in a hotel. It is meant as a foundation course, perhaps for those who are looking for a move into Revenue Management, or to be able to contribute more to this function in an existing role.
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