Learn all about the principles of Revenue Management for Meetings and Events in this one day course. The course is a mix of practicle examples on how to implement function space strategies including selling strategies to optimize all departments within the hotel; including hotel rooms and restaurant. We focus on the key performance indicators that drive function space revenue management and show you how to optimise your result with the use of these indicators. We teach you how to calculate displacement in order to offer the most optimal group price and introduce basic tools to forecast and track meeting room demand and pick up. Time will also be spent on communication skills in order to communicate conference meeting strategies to the executive team.
TBA in Stockholm
TBA in Amsterdam
Introduction to Conference, Events and Banqueting Revenue Management
Key Performance Indicators within Conference & Events Revenue Management
Forecasting skills within Conference & Banqueting Revenue Management
Updating Selling Strategies and communicating them in an effective way
Subjects to be discussed
Applying the principles of Revenue Management on Conference & Banqueting Revenue Management. What are the differences?
What are the Key Performance Indicators and how can they be used in order to optimize result?
What tools are available for forecasting and tracking demand and pick-up on meetings and events?
What external and internal factors influence demand and how can a venue use this information in order to increase results?
How to track Denials and Turn-Aways and how they can be used to optimize strategies on Function Space Revenue Management?
Creating the optimal selling strategies that optimize all departments within your property?
Optimize your Business Mix and analyze the booking behaviour per segment
Determining the right pricing and selling strategy according to demand level; High, Medium or Low
Calculating displacement in order to determine the optimal price for your Meetings requests
Communicating Conference Revenue Management strategies within the several departments and executive team
Who should attend ?
The course Conference Revenue Management is aimed to anyone who has a supervisory and/or selling position, such as:
Sales and Marketing Managers
Food & Beverage Managers
Hotel Managers and Site Managers
Reservations- and Sales Agents