Maximise your business - why all hotel managers should have revenue management training
In a world that changes as quickly as that of hotel revenue management, all revenue managers worth their salt know the true value of ongoing, up-to-date and relevant training.
Whether it’s doing the research yourself, reading well-informed blogs, networking with like-minded colleagues and peers, or sitting down for a formal revenue management course, the revenue managers of today can’t simply rely on the technology and knowledge they gained five or ten years ago.
And of course, the same is true for hotel managers and other key members of hotel personnel.
Most hotel managers, over the course of their career, will hopefully have had at least some involvement in revenue management.
What is the value of revenue management training for hotel managers?
Revenue management is such a key factor in a hotel’s success, good hotel managers must, as a minimum, have at least a basic grasp of what hotel revenue management entails, its concepts and purpose.
Even for those larger hotels which enjoy the benefit of a dedicated revenue manager, a basic level of revenue management knowledge is essential for senior members of staff. How else can a hotel manager be expected to fully understand the predictions, strategies and reports presented to them by their revenue manager?
In such cases, it could well be the case that an introductory-level course in revenue management is the ideal starting point. These courses will help hotel managers and other key reservations staff gain a solid grounding in understanding key revenue management terms and techniques.
On the flip side, many smaller hotels may not have sufficient resources for a dedicated revenue manager, meaning the responsibilities of this vital role must fall to other key members of staff.
In these circumstances, hotel managers may well need more in-depth revenue management training.
Which revenue management training courses are suitable for hotel managers?
Octopus Revenue provides a wide range of training courses for every level of experience and expertise.
For those just starting out in hotel management training, or hotel managers who haven’t had any formal revenue management training, courses such as our 10 Steps To Revenue Success could be an ideal starting point.
Hotel managers or reservations staff who already have a basic understanding of revenue management could be more suited to one of our more advanced courses, such as Pricing for Profit, Driving Direct Business to your Website, or Forecasting Techniques for Revenue Managers.
You can find out more about the courses Octopus Revenue provides, including course synopsis, pricing and dates, via the training calendar.