Revenue Management for Smarter and Profitable Sales

Revenue Management for Smarter and Profitable Sales

Introduction

This 2-day corporate in-house program is specifically designed for hospitality professionals aiming to elevate their revenue optimization strategies. In an industry where fluctuating demand, seasonal trends, and competitive pricing are critical to success, this program equips participants with the tools and insights needed to maximize revenue and profitability.

The success of revenue management is measured by key performance indicators such as market share, optimized revenue, and growth in Gross Operating Profit (GOP). Achieving these goals requires seamless collaboration between revenue managers, hotel leadership, and sales teams. Together, they must sell the right product to the right customer, at the right price, through the right channels, and at the right time. Additionally, the 80/20 principle, where 80% of revenue often comes from 20% of accounts, highlights the importance of selling smarter and with greater efficiency to achieve optimal revenue performance.

However, challenges often arise when sales teams lack visibility into the broader revenue strategy or fail to understand the rationale behind pricing decisions. This disconnect can lead to misaligned efforts and missed opportunities. To bridge these gaps, this program emphasizes the consolidation of revenue management and sales efforts. Participants will learn how to use data and analytics to predict customer behavior, optimize pricing, and maximize product utilization, ensuring that every decision contributes to the property’s financial goals.

Frontline sales teams and account managers also play a pivotal role in capturing the right business and understanding the value of each prospect. They must be equipped to follow pricing guidelines set by the Revenue Team while also knowing how to negotiate beyond rates by leveraging features and benefits. This program will enhance participants’ skills in sales negotiation, objection handling, and determining "walk-away rates," ensuring they can secure profitable deals without compromising revenue opportunities.

During the workshop, participants will evaluate their current organizational structure, systems, and processes to identify areas for improvement in both short-term and long-term revenue optimization. The program will also uncover hidden demand and new opportunities that go beyond existing practices, paving the way for optimal financial results and higher returns on investment. Each workshop is tailored to the specific objectives and resources of the participants, ensuring immediate and actionable outcomes.

Who should attend: General and Hotel Managers, Revenue Managers, E-Commerce Manager, Reservations, Sales & Marketing, Catering & Convention, Rooms Division Managers, Front Office Manager, Financial Controllers, Owners and Stakeholders.

Outcome

By the end of this program, participants will be able to:

- Develop a solid understanding of core revenue management concepts, including demand forecasting, pricing optimization, and inventory control, to maximize profitability.
- Learn to design and apply dynamic pricing models tailored to market conditions, customer behavior, and competitive landscapes.
- Acquire the skills to analyze and interpret data effectively, enabling data-driven decisions that enhance revenue performance.
- Understand how to align sales strategies with revenue management goals to ensure cohesive and profitable outcomes.
- Gain practical insights through case studies and simulations, enabling you to implement revenue management techniques in real-world business scenarios.

Select to design your own content and request for a customized quotation

No	Topic	Topic Description
1	Part 1: The Principles of Revenue Management in Sales Account Management [1.5 hrs]	Revenue Management and the role of Sales in the revenue cycle. Ensures that the Sales team (rooms, events and reservations) understands the concept of revenue management and how it can lead to higher productivity for optimal revenue and profitability. The impact of COVID-19 and technology on today’s hospitality and travel industry and how it has revolutionised how negotiated accounts are managed.
2	Part 2: Using the tools and resources (systems and data management) to enhance your sales strategies [2.0 hrs]	Hotel systems as tools, then and now. Branding, positioning, property and competitor SWOT including brainstorming on own property and competitor’s strengths and weaknesses to capture sales and property’s USPs. Data management to make strategic sales decisions and measure sales efforts.
3	Part 3: Prospecting and the Initial Approach [3.5 hrs]	Generating and qualifying leads to ensure higher productivity by targeting the right accounts to focus on. Planning the first contact: Call outline, objectives, opening (greeting and ice breakers), advancing (gathering information to qualify) and concluding the call (next step and gaining commitment). Questioning techniques and the funnel process: Participants will learn to use open, closed and leading or high-gain questioning techniques to gather information and close a sale. Handling customers’ objections: Participants will share common objections and learn how to overcome them followed by role-play. Qualifying to screen out prospects who will never buy and gain information on those who will. Selling by Objectives, Benefits and Features: Brainstorming session to list out the features at the hotel and team exercise on how to construct an OBF statement.
4	Part 4: Developing a Negotiation Strategy [2.5 hrs]	Planning a sales call and the interview stage: Call objectives and the actual call process including role play. The basics of hotel pricing and planning what to offer in the rate and services agreement (right product at the right price to the right customer).
5	Part 5: Getting the prospect’s buy-in on the rate and services agreement offered [2.0 hrs]	Standing out from the competition when presenting the rate and services agreement. Strategize a plan to sell the rate and services agreement. Your rate ‘comfort circle’ and the use of value-add instead of price decreases in the negotiation process. Ensuring commitments in the agreement are fulfilled at the property to gain and maintain customer loyalty and confidence.
6	Part 6: Account Review and Re-Evaluating Agreements [1.5 hrs]	Maintaining productivity, avoiding displaced revenue and optimising profitability over time. Frequency, preparation, agenda and presentation to the client. Analysing an account’s value to the property and moving forward in a ‘win-win’ situation with the client. Shifting the client’s share of business from the competition to grow market share.
7	Part 7: Effective Site Inspection with a ‘WOW’ effect [0.5 hrs]	Your objectives, their objectives. Preparation and building a ‘WOW’ effect. What happens after?
8	Part 8: Wrapping Up [0.5 hr]	Questions & Answers Moving forward, 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.