Revenue Management Beyond Sleeping Rooms

Revenue Management Beyond Sleeping Rooms

Introduction

The success of Revenue Management practices to capture demand, maximize revenue and optimize profitability requires an entire team effort. While the revenue manager is the key driver, support, feedback and implementation and execution are carried out by key leaders like general managers, sales & marketing and operations. Everyone must understand and embrace a revenue culture.

This training program is designed to take your revenue management practices and culture beyond guest rooms to the next level which is Total Hotel Revenue Management. A holistic approach to revenue management is used to identify revenue-generating opportunities and optimize revenue and profit generation from all revenue streams, mainly restaurants & bars, catering & convention and spas. Learn to strategize using the simple principle of revenue management and how to measure your revenue performance results effectively and logically. Participants will gain in-depth knowledge of the fundamentals of revenue management and understand what it takes to make effective strategic decisions and how to execute them effectively.

During the training workshop, discover if your present organizational structure, systems, flow and processes have what it takes to optimize revenue, short-term and long-term in all your revenue stream departments. At the same time, discover hidden demand and new opportunities that go beyond your current practices that can lead to optimal financial results and higher returns on investment. Each training workshop is always further tailored to your specific objectives, organizational structure, existing systems and available resources at hand so that immediate results can be achieved.

WHO SHOULD ATTEND

TEAMWORK is the key to the success of any revenue management initiative. The success of Revenue Management practices to identify and capture demand, maximize revenue and optimize profitability requires an entire team effort. A revenue cycle involves three key departments, Sales & Marketing, Revenue Management and Operations with the General Manager as the captain of the ship. Here are the positions that could benefit immensely from this program:

General and Hotel Managers
Revenue Managers
Reservations
Sales & Marketing
Catering & Convention
Rooms Division Managers
Front Office Manager
Food & Beverage Managers
Financial Controllers
Owners and Stakeholders

Helping you OPTIMISE and GAIN Incremental Revenue!

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No	Topic	Topic Description
1	UNDERSTANDING REVENUE MANAGEMENT	Understanding the basic principles of Revenue Management How the role and contribution of each staff impact revenue performance Hotel systems as tools, then and now Impact of branding and positioning on your revenue management strategies Competitor and SWOT analysis for Events, Restaurants and Bars General Guidelines for Pricing Value and Pricing it Right for Food & Beverage
2	BASIC SELLING SKILLS	Ice breakers Questioning techniques Handling objections Negotiation skills
3	RESTAURANT AND BAR REVENUE MANAGEMENT	Duration management Menu pricing Menu engineering Table management Digitalization to create demand and target the right customer with the right offering Up-selling to maximize revenue and profitability Monitoring and measuring success: Revenue per Available Seat-hour (RevPASH)
4	FUNCTION SPACE AND EVENTS REVENUE MANAGEMENT	What event management needs to know about revenue management to maximize profitability The basic principles of revenue managing function space and events Data Management: Segmentations for customer, market and catering Demand Forecasting for event management Group Pricing for sleeping rooms and group events Information gathering to identify prospect potential and opportunities to maximize revenue ▪ Managing group blocks to minimize displaced revenue and maximize space utility Diary Audits Measuring Success: Space utilization, ProPOST and ProPAST
5	SPA REVENUE MANAGEMENT	The Fundamentals Types of fences to maximize revenue opportunities Basic strategies Monitoring and measuring success
6	WRAPPING UP	Questions & Answers Moving forward, the next steps

Expert

Bobby S H Saw

I am a certified trainer under the Ministry of Human Resources Malaysia for the Human Resources Development Corporation (HRDC) with over 35 years of experience in the hospitality industry at both property and corporate roles. Having started my career in Malaysia, I eventually covered regions like the Middle East, Africa, India, Maldives, Thailand, Vietnam, Philippines, China and Hong Kong, during which I spearheaded the revenue management, distribution, e-commerce and digital marketing departments. Since 2018, I have focused my efforts on conducting revenue management training workshops and occasionally provided consultancy services upon request. I have also worked with various training companies abroad to organize open workshops on revenue management and have so far done successful stints in Manila, Bangkok, Saigon and Colombo. I have also appeared as a keynote speaker and panelist at various trade events, such as No Vacancy, Web in Travel, ITCMA, Hotel Management Summit Thailand and Hotel Marketing and Revenue Conference. At the same time, drawn up and conducted revenue management winter classes for the School of Hotel & Tourism Management, Hong Kong Polytechnic University where I also taught as ‘Professor of the Day’ to their master class students. What makes my training workshops different from others is my actual years of experience on this subject hence I do share actual real-life scenarios and provide solutions to challenges faced by the participants at their workplace. I am also in constant contact with not just our industry circle but also with academia, hotel systems and digital marketing vendors to keep my training content materials relevant and up to date.