This comprehensive 10-week course is designed to give you both the theoretical and practical knowledge to manage your properties revenue optimisation or begin a career as a revenue manager.
WHAT WILL I LEARN?
Learn the full spectrum of revenue management tactics, including drawing up a budget, a revenue plan and calculating cost of sales.
WEEK 1 : Understanding Revenue Management (RM)
In our first week we start off by exploring the basics of revenue management including what exactly it is, why do we need it, how do we measure it and where can we apply it.
WEEK 2: Benchmarking
In our Benchmarking session you will learn how to measure how well your strategies and campaigns are performing.
WEEK 3: Tactical Revenue Management
In our third week we explore daily revenue management techniques including pricing decisions, restrictions and other revenue drivers.
WEEK 4: Tactical Revenue Management continues
In Week 4 we continue our tactical revenue management learning. This section will upskill you with proven strategies and practical examples of successful revenue management practices.
WEEK 5: Forecasting
Forecasting is a major cornerstone of revenue management and is centered around predicting what the future holds.
WEEK 6: Pricing
Getting a firm grip on your pricing structure and pricing correctly to the public is an integral part of a revenue managers duties.
WEEK 7: Pricing continued
This week we talk about setting annual increases, negotiating and contracting rates – skills that are crucial to a successful revenue management.
WEEK 8: Strategic Revenue Management
Learn to strategically plan your revenue growth through managing bulk business and market mixing.
WEEK 9: Income Budget Process
Using the knowledge we have gained so far, this week we discuss budgeting for the financial year ahead while incorporating your strategic plans.
WEEK 10: Cost of Sales
In our last class together we learn about using cost of sales calculations to optimise profits.
Theresa Prins is the founder and chief revenue manager at Revenue Resolutions. With over 15 years experience in the revenue optimisation field within some of South Africa’s top hotels and resorts, Theresa brings her unique expertise to this online course designed to train and upskill students in this niche and in-demand discipline.
Pre-reading will be sent to you 2 days prior
One hour of theory will be conducted per session
30 Minutes Q&A will be done in the session
Assignments will be given in each session
Assignments are due prior to the next session
Assignments will be marked and scored