Apply Principles of Revenue Management

Overview

This skill describes the ability to apply concepts and key characteristics of revenue management. It also includes understanding key performance indicators (KPI) of room revenue management and profitability, and applying the principles of value-based pricing for a best available rate strategy.

Who should attend?

This course is suitable for existing practitioners who seek an in-depth understanding of revenue management. 

Learning Outcomes

By the end of the course, participants will be able to acquire the following learning outcomes:

Knowledge

  • Interpret benchmark reports generated for the organisation and competitors
  • Calculate internal and external performance measurements in revenue management

Skills

  • Apply concepts of revenue management, using the organisation’s rooms inventory
  • Create operational road maps for rooms allocation and pricing
  • Determine the market segments and demand drivers of the organisation

Attitude

  • Seek ways to improve reservation confirmation rates, using revenue management strategies
  • Adopt a learning mind-set and openness to diversity in the context of hospitality
Course Structure

Course Duration & Structure

The total duration is 30 hours. This includes:

  • Classroom Training – 22 hours
  • E-learning – 6 hours
  • Assessment – 2 hours

Kindly refer to the CET Programme Calendar or contact our friendly course consultants for more information.

Methodology

Lecture, discussion, e-learning, group project and online discussions and case studies

Assessment

Written assessment(s) with learning reflections; and minimum 75% attendance

Certification

Upon successful completion of the programme, participants will receive a Statement of Attainment issued by SkillsFuture Singapore (SSG).

Course Outline
  1. Introduction to Revenue Management
  2. Inventory and Price Management
  3. Pricing and Value
  4. Forecasting Demand
  5. The Nature of Competitive Markets
  6. Performance Measures of Rooms Revenue Management
Course Fee
Course Fee Company- Sponsored Singaporeans/ Singaporean PRs International
Full Course Fee (Before GST) $600.00 $600.00
7% GST on Nett Course Fee $42.00 $42.00
Total Nett Course Fee Payable, Including GST $642.00 $642.00
1,2,3SSG Grant $300.00 N.A.
Total Nett Course Fee Payable, including GST  $342.00 N.A.
2,3,4Additional Funding if eligible for Mid-Career Enhanced Subsidy (MES)  / Enhanced Training Support for SME $240.00 N.A.
Total Nett Course Fee Payable, Including GST,  after MES / SME $102.00 N.A.
2,3,5Additional Funding if eligible under Workfare Training Support (WTS) $270.00 N.A.
Total Nett Course Fee Payable, Including GST,  after WTS $72.00 N.A.

¹Singaporeans and Singapore PRs who are aged above 21 years and abovewill be eligible for up to 50% SSG funding.Absentee payroll may be claimable as well.

²Companies need to log-in to www.skillsconnect.gov.sgfor application of all SSG funding and subsidy.

³All SSG funding and subsidy are subjected to SSG’s prevailing corporate policies and final approval. Companies and individuals are liable for the full course fee in the event that the SSG funding and subsidy are not approved.

4The SkillsFuture MES is for Singaporeans aged 40 years and above.

5WTS Funding is for Singaporeans who are aged 35 years and above (or 13 years and above for Persons with Disabilities) earning a monthly income of not more than $2,000.


Continuing Education
and Training

Tel: 6415 3513 / 514 / 590 / 508 / 547 / 531
Email: [email protected]