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TZID:Asia/Singapore
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DTSTART:20230101T000000
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DTSTART;VALUE=DATE:20240228
DTEND;VALUE=DATE:20240301
DTSTAMP:20260523T082224
CREATED:20210814T212651Z
LAST-MODIFIED:20240228T204309Z
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SUMMARY:2 Day Revenue Management Workshop – Singapore
DESCRIPTION:[vc_row][vc_column][mk_image src=”https://hsmaiasia.org/wp-content/uploads/sites/12/2023/07/hsmai_academy-2-day-workshop-w-border-scaled.jpg” image_size=”full” align=”center” margin_bottom=”20″][/vc_column][/vc_row][vc_row css=”.vc_custom_1627529759549{margin-bottom: 25px !important;}”][vc_column][vc_empty_space][vc_custom_heading text=”2-DAY REVENUE TRAINING FOR HOTELS” font_container=”tag:h3|text_align:center|color:%23663399″ use_theme_fonts=”yes”][vc_column_text css=”.vc_custom_1698204938975{margin-bottom: 0px !important;}”] \nSINGAPORE INSTITUTE OF HOSPITALITY \n1 Coleman Street\, The Adelphi\, #04-37 Singapore 179803 \n10 Online courses PLUS Face to face Workshop over 2 days\nWednesday – 9:00am – 5:00pm\nThursday – 9:00am – 5:00pm\n \nThis fast-paced two-day workshop is a great opportunity for anyone who is looking to learn more about managing revenue in a hotel or any accommodation business. The workshop adds practical experience to the online courses.  The course is for people who would like to move into a Revenue Management role\, those with less than 3 years experience\, and those who need to manage a Revenue staff member or team. \nTo earn the “Certificate in Revenue Management (Hospitality)”\, you will need to complete the 10 online courses. \n[/vc_column_text][vc_empty_space][/vc_column][/vc_row][vc_row css=”.vc_custom_1626307595607{margin-bottom: 25px !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}”][vc_column 0=”” width=”1/2″][vc_custom_heading text=”SELF-PACED ONLINE COURSES INCLUDED” font_container=”tag:h3|text_align:center|color:%23663399″ use_theme_fonts=”yes”][mk_image src=”https://hsmaiasia.org/wp-content/uploads/sites/12/2017/07/lady-laptop-image.png”][vc_tta_accordion title_tag=”p” section_title_tag=”p” style=”flat” color=”green” spacing=”1″ gap=”3″ c_icon=”” active_section=”” no_fill=”true” collapsible_all=”true”][vc_tta_section i_icon_fontawesome=”fas fa-sort-amount-up” add_icon=”true” title=”The Essential Components of Revenue Management” tab_id=”1696980228060-f2089c45-f7dd”][vc_column_text css=”.vc_custom_1698043243217{margin-bottom: 0px !important;}”]The fundamental components of Revenue Management are applied to any business that has fixed capacity\, perishable inventory\, and time-variable demand. This course introduces you to the elements of revenue management that you need to be familiar with to understand the role of revenue in the accommodation industry.  It’s not just about pricing.  The discipline involves many skills and this initial course will introduce you to each one. \nYou will learn:\n\nThe main elements of the function of Revenue Management\nUnderstand Revenue Management Terms and definitions\nTo identify a revenue management career path\n\n[/vc_column_text][vc_column_text css=”.vc_custom_1698037241858{margin-bottom: 0px !important;}”][/vc_column_text][/vc_tta_section][vc_tta_section i_icon_fontawesome=”fas fa-location-arrow” add_icon=”true” title=”Understanding your guests pathway to booking” tab_id=”1696980228087-47dbdb89-04da”][vc_column_text css=”.vc_custom_1533781145752{margin-bottom: 0px !important;}”] \nYou will learn:\n\nHow customers shop for accommodation\nLearn what drives customers search and selection process\nLearn what influences their choices during their search (including travel agents)’\nThe customer journey\, from dreaming about a holiday\, to shopping\, booking\, and experiencing the holiday or trip\nTravel inspiration how do we find the inspiration to travel\, and where to travel to?\n\n[/vc_column_text][/vc_tta_section][vc_tta_section i_icon_fontawesome=”fas fa-retweet” add_icon=”true” title=”Market Segmentation” tab_id=”1698037345547-134c2d1a-6506″][vc_column_text css=”.vc_custom_1533781293684{margin-bottom: 0px !important;}”] \nYou will learn:\n\nWhat segmentation is\nWhy hotels segment their markets\nHow to define each segment e.g. Corporate\, Events\, Wholesale\, Retail etc\nIs a channel the same as a segment?\nHow to use this segmentation to gain insights and improve bottom line results\nUnderstand different consumer behaviours in difference channel\nUnderstand the different terms and strategies around using Segments vs Channels vs personalised offer\n\n[/vc_column_text][/vc_tta_section][vc_tta_section i_icon_fontawesome=”fas fa-building” add_icon=”true” title=”Understanding the Hospitality Industry” tab_id=”1698037370099-11fb7994-89b2″][vc_column_text css=”.vc_custom_1533781230366{margin-bottom: 0px !important;}”] \nYou will learn:\n\nWhat are the fundamental principles of Economics and their role in Hotel Revenue Management?\nHow do Revenue Directors monitor and measure their competitor marketplace?\nHow do Hotel Managers identify true competitor properties?\nHow do you read competitor reports and use other data to derive strategic insights\, and use the data to make better decisions?\n\n[/vc_column_text][/vc_tta_section][vc_tta_section i_icon_fontawesome=”fas fa-chart-bar” add_icon=”true” title=”Distribution” tab_id=”1698037474840-be23d571-eb23″][vc_column_text css=”.vc_custom_1698043274885{margin-bottom: 0px !important;}”] \nYou will learn:\nThe definition of Distribution within the Accommodation sector\nThe definition of accommodation Inventory and how it is managed\nThe types of distribution channels\nThe factors of the Cost of Sale\nThe steps to implementing a successful Distribution Strategy\nThe important role of technology in a Distribution Strategy\nThe definition of Rate Parity and its role in Distribution[/vc_column_text][/vc_tta_section][vc_tta_section i_icon_fontawesome=”fas fa-reply-all” add_icon=”true” title=”Rooms Forecasting” tab_id=”1698037556381-64782c37-be14″][vc_column_text css=”.vc_custom_1533874899798{margin-bottom: 0px !important;}”] \nYou will Learn:\n\nWhat are the different types of forecasts?\nWhat are the objectives for each of the types of forecasts?\nWhat information do I need to put a forecast together?\nHow do I find this information?\nWhat questions should I ask when putting together a forecast?\nHow often should I be adjusting the forecasts?\nWhat are the steps that I need to follow to put the forecast together?\nWhat is the difference between unconstrained and constrained demand?\nWhat are the elements of an accurate forecast?\n\n[/vc_column_text][/vc_tta_section][vc_tta_section i_icon_fontawesome=”fas fa-sort-numeric-up-alt” add_icon=”true” title=”Hotel Rooms Pricing” tab_id=”1698037630423-1410eea6-53c0″][vc_column_text css=”.vc_custom_1536034455951{margin-bottom: 0px !important;}”] \nYou will learn:\n\nHow to price your different room types\nDifferent types of pricing explained – what and why:\n\nBAR\, Rack\, Group\, Corporate\, Tactical vs Strategic pricing\, Mobile only pricing – why?\, Wholesalers\, Static vs Dynamic rates\, Corporate & Event\, Opaque Pricing\, Length of Stay Pricing\, Loyalty clubs and Closed User Group rates\n\n\nPackages/ promotions/ Discounting – Discounting –what additional volume required if I discount my price? Is a lower price generating new demand?\nUnderstanding the impact on discounting -How to calculate Occupancy needed to offset discounts\nUnderstanding the influences on pricing including decoy and anchor pricing\nLead time and its impact on pricing\nDisplacement Analysis\nContracts\nTechnology available to monitor and manage pricing\n\n[/vc_column_text][/vc_tta_section][vc_tta_section i_icon_fontawesome=”fas fa-chart-line” add_icon=”true” title=”Revenue Strategy” tab_id=”1698037695637-b440e73a-ecf0″][vc_column_text css=”.vc_custom_1698043292078{margin-bottom: 0px !important;}”] \nYou will learn:\n\nTo understand the components of a good revenue strategy;\nDifferent revenue strategies explained;\nPricing Strategy;\nExercises in how to use the Revenue Strategy to manage day-to-day tactics;\nInventory Control- how inventory can impact on sales. If forecasting constraint\, monitor to ensure controls do not have too big an impact and adjusting strategy where necessary and why revenue managers might withhold inventory.\n\n[/vc_column_text][/vc_tta_section][vc_tta_section i_icon_fontawesome=”fas fa-lightbulb” add_icon=”true” title=”Understanding Business Intelligence for Hotels” tab_id=”1698037745855-977ad08e-63cb”][vc_column_text css=”.vc_custom_1698045302183{margin-bottom: 0px !important;}”]All business need some data to improve their business.  Accommodation providers have a lot of data available to them. This course explains how to get the data you need\, what you can use it for and will cover some case studies on how hoteliers have improved their business using data and intelligence. \nYou will learn: \n\nWhat types of reports do RM’s create\nWhere is data available\nHow to read\, and gain insights from data and reports\nHow to present data in easily digestible format\n\n[/vc_column_text][/vc_tta_section][vc_tta_section i_icon_fontawesome=”fas fa-american-sign-language-interpreting” add_icon=”true” title=”Roles\, Structure and Revenue Meetings” tab_id=”1698037785893-24021a83-b58d”][vc_column_text css=”.vc_custom_1533875378062{margin-bottom: 0px !important;}”] \nYou will learn:\n\nTo understand the different types of structures and the benefits and challenges of each;\nTo understand the key elements of how revenue management integrates into an organisation;\nThe company culture is key to being successful in revenue roles\, learn why\nTo understand the key elements of how revenue management integrates into an organisation;\nLearn about the various roles that Revenue staff perform\n\nTo understand the importance of the Revenue Meeting and how it contributes to the culture across the business. \n\nImportance of regular revenue meeting involving all department heads of hotel\nWhat to discuss?\nWhat reports to distribute prior to the meeting\nHow to ensure meeting is effective in setting strategy instead of just reviewing reports\n\n[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column][vc_column width=”1/2″][vc_custom_heading text=”IN-PERSON 2-DAY WORKSHOP AGENDA” font_container=”tag:h3|text_align:center|color:%23663399″ use_theme_fonts=”yes”][mk_image src=”https://hsmaiasia.org/wp-content/uploads/sites/12/2017/08/2017-revenue-ready-first-class-in-singapore-forecasting.jpg”][vc_tta_accordion title_tag=”h3″ section_title_tag=”p” style=”flat” color=”green” spacing=”3″ gap=”3″ active_section=”1″ no_fill=”true” collapsible_all=”true”][vc_tta_section i_icon_fontawesome=”fas fa-warehouse” add_icon=”true” title=”Revenue Workshop Agenda” tab_id=”1698038068776-9d1d1058-f43f”][vc_column_text disable_pattern=”false” css=”.vc_custom_1698045702354{margin-bottom: 0px !important;}”] \n\nThe 2-day Workshop will allow you time to talk to the 4 trainers in breaks and in the sessions.  It is a great opportunity to ask the Experts for their tactics and strategies on any issues or topics you don’t understand.\nThe 2-day Workshop is not long enough to cover all the topics of each of the 10 courses that make up the Certificate program.  It is intended to give you an overview\, and importantly\, some hands-on practice on some simulated revenue management activities.  It is designed to mostly cover activities that are difficult to present in an online format.\nDay 1 of the workshop covers the first 3-4 topics fairly quickly.  This is to allow more time to do some “practice” activities in the Forecasting\, Strategy and Pricing sessions using a simulator in group activities.  Depending on your own experience in these topics\, you may like to study some of the online courses for topics 1-4 prior to the workshop.\nRevenue Management Terms  – if you are completely new to Revenue Management\, you will find it useful to study the commonly used terms in Course 1 – “Introduction to Revenue Management” as well as our Glossary which you can find on the HSMAI Academy website.\n\n[/vc_column_text][mk_button dimension=”flat” size=”medium” url=”https://hsmaiacademy.org/glossary/” target=”_blank” align=”center” id=”Glossary page”]TERMS TO KNOW[/mk_button][vc_column_text css=”.vc_custom_1698037241858{margin-bottom: 0px !important;}”][/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column][/vc_row][vc_row css=”.vc_custom_1627441682878{margin-top: 25px !important;}”][vc_column width=”1/2″ css=”.vc_custom_1698051788241{background-color: #e0e0e0 !important;}”][vc_custom_heading text=”ENROL NOW!” font_container=”tag:h3|text_align:center|color:%23663399″ use_theme_fonts=”yes”][/vc_column][vc_column width=”1/2″][vc_custom_heading text=”WHO SHOULD ATTEND?” font_container=”tag:h3|text_align:center|color:%23663399″ use_theme_fonts=”yes”][vc_empty_space height=”50″][mk_custom_list] \n\n          Aspiring Revenue Managers\n          Professionals with less than 3 years of experience\n          Managers overseeing Revenue teams\n\n[/mk_custom_list][vc_custom_heading text=”MEET THE TRAINERS” font_container=”tag:h3|text_align:center|color:%23663399″ use_theme_fonts=”yes”][mk_employees style=”classic” column=”2″ description=”false” employees=”1298\, 3274\, 2639\, 31039″][/vc_column][/vc_row][vc_row][vc_column][vc_empty_space height=”50″][vc_custom_heading text=”SUPPORTING PARTNER” font_container=”tag:h3|text_align:center|color:%23663399″ use_theme_fonts=”yes”][mk_employees column=”1″ rounded_image=”false” grayscale_image=”false” count=”1″ description=”false” name_color=”#ffffff” employees=”30205″][/vc_column][/vc_row]
URL:https://global.hsmai.org/event/2-day-revenue-management-workshop-sydney/
LOCATION:Singapore Institue of Hospitality\, 1 Coleman Street\,\, The Adelphi #04-37\, 179803\, Singapore
CATEGORIES:Chapter Events,Classes,Events,Training Workshop
ATTACH;FMTTYPE=image/jpeg:https://global.hsmai.org/wp-content/uploads/2023/10/hsmai_academy-2-day-workshop_500x500-square-w-border-Oa6jYg.tmp_.jpg
ORGANIZER;CN="HSMAI Academy":MAILTO:info@hsmaiacademy.org
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