Utilising effective yield management practices in regard to rate and demand to optimise revenue growth within the Revenue Department
IFH® Specialist Training
This training is for Owners, General Managers, Front Office and Reservation Managers with the authority to make rate and space decisions. This seminar is geared to hotels with 50+ rooms that operate in a market with at least two different demand periods.
Seminar Goals
Participants will be familiarised with the fundamentals of Yield and Revenue Management. They will learn how to practically apply these fundamentals back at work. Through the course of the seminar participants will understand how to define a daily selling strategy and how to operate a daily budget. The principles of utilising professional forecasting methods and defining a daily business mix will also be introduced.
Seminar Topics
■ Definition of yield management
■ How is yield management applied in hotels today?
■ The definition of a daily sales strategy
■ The principles of forecasting
■ Creating the optimal business mix per demand season
■ Defining and applying the correct demand period
■ Example-calculation with the key yield indicators
■ Reviewing the advantages of using yield indicators instead of average rate and occupancy percentages to measure department profitability
■ Key factors of modern yield and revenue management
■ Steps to implementing yield management
■ Possible dangers when yield is interpreted and applied incorrectly
■ Effective yield meetings
■ Possibilities of putting yield into practice
■ Practical examples, team exercises
DURATION: 2 DAYS
START AND FINISH TIMES: DAY 1 10.00 - 18.00, DAY 2 9.00 - 17.00
