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Revenue Management Fundamentals
Course Introduction
Course Introduction and How it works (2:34)
Instructor Introduction (2:52)
Syllabus Walkthrough (3:40)
Revenue Management Fundamentals
Learning outcomes (0:52)
What is Revenue Management (13:09)
Understanding the optimization cycle (4:58)
Internal and External KPI's (9:20)
The backend – technology capabilities required (7:59)
Activity: Action items for your hotel
Print out: The RM Triangle
Print out: Calculations: Internal and External KPI's
Activity: Calculate KPI's
Understanding data
Learning outcomes (1:13)
What is data? (6:38)
Data Layers and Data Management (8:03)
Human vs Machine (9:42)
Data sets in hospitality (7:21)
Activity: Dissecting Distribution (3:33)
Watch now: How to supercharge your pick up reporting (39:11)
Knowing your customers
Learning outcomes (0:54)
Understanding the demand cycle through Segmentation (10:44)
Who is my perfect customer? (11:16)
Activity: Action items for your hotel
Understanding your playing field
Learning outcomes (0:55)
Consumer perception (6:00)
Concept of value (5:13)
Product differentiation (5:08)
Defining your competitive set (5:45)
Action items: internal Differentiation
Action items: Competitor differentiation
Activity: Price Review Grid
Forecasting & Budgeting
Learning outcomes (1:13)
Principles of Forecasting (11:52)
The Budget lifecycle (5:09)
The Budgeting process (10:41)
The Budget Presentation (5:26)
Reading: How to budget like a pro ebook
Pricing
Learning outcomes (0:56)
Pricing Evolution (3:25)
Setting up your pricing structure (7:37)
Principle of Rate Parity (3:08)
Price Elasticity (4:43)
Pricing Concepts (10:53)
Price Distribution (5:36)
Corporate Account Pricing and Evaluation (8:06)
Reading: How to nail RFP season ebook
RFP Glossary Cheat sheet
Watch now: How to use rate shopping data (41:28)
Revenue Management Tactics
Learning outcomes (0:49)
Overbooking (4:14)
Displacement (4:19)
Capacity Control (3:49)
Yielding (4:59)
The Revenue Manager
Learning outcomes (1:12)
The Skillset required (6:11)
Buzzwords (6:42)
The Art of Storytelling (6:47)
The Revenue Meeting (5:42)
The Final Quiz
Quiz introduction and thank you (1:12)
The Quiz - graded
Bonus: Introduction to Restaurant Revenue Management
KPI`s (8:12)
What is menu optimization? (3:40)
What is Table optimization? (3:22)
What is Server performance? (2:19)
Optional: Restaurant Revenue Management course sign up
Bonus: An Introduction to Upselling
Definition and examples of upselling and cross-selling (3:05)
Benefits of upselling (4:27)
Optional: Upselling course sign up
Understanding the demand cycle through Segmentation
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