This detailed course is designed for hospitality professionals, including revenue managers, hotel managers, marketing managers, and anyone involved in pricing and revenue optimisation within the hospitality industry. This detailed course provides a deep dive into pricing strategies for the hospitality industry. You'll learn to optimise pricing, effectively manage rate integrity and parity, and leverage advanced pricing techniques. Additionally, you'll explore various distribution channels, their associated costs, and how to maximise reach and revenue. By the end of this course, you will be equipped to make data-driven pricing decisions, implement effective rate strategies, and develop a comprehensive pricing strategy to drive business success.
Overview
Syllabus
- Hotel Pricing Fundamentals and Rate Structure
- This module explores important aspects of pricing strategies and rate management in the hospitality industry. You will learn how to make informed pricing decisions, leverage value-based and market-based pricing approaches, and effectively manage rate integrity and parity. Additionally, you will explore the nuances of room type definitions and rate structures, including above-BAR rates and packages.
- Hotel Pricing Strategies
- This module explores advanced pricing strategies for the hospitality industry. You'll learn how to optimise pricing and maximise revenue by leveraging a range of factors, including forecasting techniques, occupancy rates, length of stay, loyalty programs, and specific room attributes.
- Distribution Channels in Hotels
- This module explores the various channels used to distribute hospitality products and services. You will learn about direct and indirect distribution channels, their respective benefits and drawbacks, and the associated costs involved in each approach. Gain a comprehensive understanding of how to effectively manage distribution to maximise reach and revenue.
Taught by
Dubai College of Tourism
