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Hotel revenue management is commonly described as boiling down to selling the right room, to the right person at the right time, and for the right price. While that may sum up the goal, it does not come close to explaining the complexity of balancing all of those aspects for management. Hotel revenue management training provides management with a working system to manage occupancy, pricing, and marketing, which requires a coordinated effort across the organization. For any hospitality management professional, the goal is to maximize revenue by balancing demand, reservations, scheduling and variable pricing.
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Revenue [url=http://www.rtnagel.com/airjordan.php]nike air jordan pas cher[/url] management could be applied to any hospitality-based business such as restaurants, meeting spaces, spas, and even golf facilities. Any business with a fixed [url=http://www.gotprintsigns.com/uggpascher/]ugg pas cher[/url] capacity, time variable demand, and perishable inventory needs to manage revenue. This kind of business has a clear ceiling for how much revenue it can earn; it becomes the manager's job to try to reach that ceiling at the lowest cost. In order to do so, managers can employ analytics that forecast consumer behavior at the micro-economic level to optimize product availability and generate maximum [url=http://www.mansmanifesto.com]doudoune moncler[/url] revenue. Hospitality management professionals must have a firm grasp of finance, sales, marketing, and customer service, but the success of the business ultimately falls upon revenue management.
Managers are in the difficult position of knowing the nuances of every branch of the hospitality industry. However, the extent of a manager's knowledge cannot stop with the hospitality industry. Managers must stay up-to-date in local and global economic news. Foreign currency values can play a significant role in tourism for a hotel. Managers need to be fully aware of local competition and politics to be able to properly [url=http://www.1855sacramento.com/woolrich.php]woolrich parka[/url] forecast demand. Mathematics and problem-solving skills are both [url=http://www.eracorrect.com]mulberry outlet[/url] essential for effective management. A manager must develop the skills necessary to cross-analyze various sets of data over periods of time in order to [url=http://www.eracorrect.com]mulberry sale[/url] detect trends and variations.
To keep up with modern changes in the hotel industry, managers must be tech savvy. Managers should understand social networks, as their role in the hotel industry could help marketing efforts. Managers should utilize the Internet to maximize their distribution channels and create a back-linking strategy, ultimately increasing their business' online visibility. The [url=http://www.rivaluta.it/hot/hogan.asp]outlet hogan[/url] hotel industry is moving forward, and those businesses that do not take advantage of hotel revenue management training will [url=http://www.vivid-host.com/barbour.htm]barbour uk outlet[/url] fall behind. Hotels and other hospitality businesses need to train their hospitality management teams in revenue management [url=http://www.rivaluta.it/hot/hogan.asp]hogan outlet[/url] in [url=http://www.hanesmorgan.com]hollister outlet[/url] order to remain successful.

David Shoemaker is Vice President of Learning Solutions and Innovation at eCornell. For more information on hotel revenue management training, hospitality management or eCornell, please visit [link widoczny dla zalogowanych]
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