Booking Practices in Hotel Revenue Management

  • Start Date

    28 Mar, 2023

  • End Date

    31 Mar, 2023

  • Price

    ₦200,000

  • WiFi

    Free wifi

Event Details

Overbook strategically to account for no-shows and minimize costs, uncertainty, and customer impact. Examine visiting groups' costs and revenues to identify profitable targets. Examine the components of a successful overbooking strategy: no-show forecasting, no-show rates, arrival uncertainty, pricing policies, and cancellation forecasts. Learn the risks of overbooking and review strategies to minimize costs and mitigate customer impact.

 

CONTENT

  • Overbooking Practices

When you have completed this module, you will be able to:

    • Discuss arrival uncertainty
    • List reasons for no-shows
    • Relate the no-show problem to hotel revenue management
    • Using no-show data, find the probability of one or more no-shows
    • Explain one method for forecasting no-shows
    • List several no-show-management challenges
    • Use the overbooking-ratio method to manage no-shows
  • Group Management

When you have completed this module, you will be able to:

    • Define non yieldable business
    • Describe the nature and significance of long-term, medium-term, and short-term group decisions
    • Discuss the significance of groups in the management of revenue
    • Discuss medium-term group decisions
    • Use the displacement model to calculate a group rate
    • Use two group-forecasting methods
    • Create a group forecast using the pickup method
    • List factors affecting group-forecasting error
    • Explain why forecasting accuracy is important

 

FOR WHOM:

This course is designed for hospitality managers, general managers, revenue managers and other hospitality professionals responsible for the financial performance of their organization.

 

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

 

DATE:

1ST BATCH:             28th - 31st Mar, 2023 

2ND BATCH:             25th - 28th July, 2023 

3RD BATCH:             21st - 24th Nov, 2023

Other Dates

Start Date End Date
25 Jul, 2023 28 Jul, 2023
Start Date End Date
21 Nov, 2023 24 Nov, 2023
Start Date End Date
28 Mar, 2023 31 Mar, 2023
  • Venue

    Alpha Partners Professional Training Conference Centre. 200, Muritala Mohammed Way (3rd Floor), Yaba Lagos.

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