Defining rate and daily selling strategies, and utilising modern distribution channels and booking engines, in rder to generate bottom-line profit.
IFH® Specialist Training
This training is for Owners, General anagers, Front Office and eservation Managers with the uthority to make rate and space decisions. This seminar is geared to otels with 50+ rooms that operate in market with at least two different emand periods. Participants ttending this programme must have ttended the IFH® Seminar Introduction and Fundamentals of Yield/Revenue Management" or they hould have a very sound background of the fundamentals of yield and revenue management within front office and reservations departments.
Seminar Goals
Participants will be able to set and apply effective short and long-term yield and revenue management strategies. In addition the participant will learn how the various distribution channels can be used to positively impact a hotel's yielding potential. The seminar will also introduce the participants to methods that can be used to evaluate and control yield and revenue management processes that ensure a hotel maximises its revenue opportunity.
Seminar Topics
■ Analysing the competition and their rate strategies
■ Tools for the competition check
■ Creating strategic rate structures and incorporating these into an effective yield strategy
■ Creating different BAR Levels
■ Corporate and Leisure BAR Rates and how to communicate to the customer and the sales team
■ Setting and applying sales focused "Price Fencing"
■ Setting sales focused market segmentation
■ Effectively applying key revenue management controls
■ Setting up a daily yield management checklist
■ Utilising GDS/IDS distribution channels to positively impact yield
■ Applying a strategic approach to room categorisation
■ Applying sales focused controls within GDS/IDS
■ The importance of "Single Image" inventory in yield and revenue management.
■ Review of electronic yield management solutions
■ Group discussion and team exercises
■ Practical Exercises
DURATION: 2 DAYS
START AND FINISH TIMES: DAY 1 10.00 - 18.00, DAY 2 9.00 - 17.00
