Zwibak Revenue Management
Courses For Your Team
Have you ever wondered why your Revenue Management team keeps saying no to all your promising Sales or Marketing ideas? Or why Revenue Management purposely oversells your hotel? These courses address the critical areas of opportunity for educating non-Revenue Management departments on Revenue Management, yielding higher revenue, market share, and profit.
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All courses are available as In-Person or Live Virtual Classroom Instructor-Led options. Contact us for specific class formats and lengths. Custom classes and on-demand options are also available.
Available On-Demand
How to Read STR® Reports
Learning Outcomes
As a result of this course, participants will be able to:
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Explain the concept of fair share, market share, and index
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Analyze a Weekly and Monthly DaySTAR© report
Course Description
The STR® report remains one of the critical reports for hotel managers. It contains a wealth of valuable information, but many hotel team members do not know how to read it. This course will introduce participants to the concepts of fair share, market share, and index and provide a framework for viewing and interpreting the primary tabs of the Weekly and Monthly DaySTAR© reports.
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Revenue Management 101
Learning Outcomes
As a result of this course, participants will be able to:
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Explain revenue management and how it applies to hotels
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Calculate the key KPIs used to measure success
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Understand the purpose of the STAR report and its metrics
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Describe the basics of forecasting and why hotels overbook
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Explain various methods of inventory management
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Understand hotel distribution methods
Course Description
Revenue Management is quickly becoming one of the most critical disciplines in the hotel industry. When done well, it leads to increased revenue, profits, and market share. But it is one of the least-understood areas among the hotel staff. Successful implementation requires understanding and support from other hotel departments, including Sales, Marketing, Front Office, and the Executive Team; however, there is little opportunity for these team members to learn the fundamentals of the discipline or understand how they contribute to its success. This course will cover the basic concepts of Revenue Management, providing all hotel team members an opportunity to contribute to revenue maximization efforts on property.
Revenue Management for Sales
Learning Outcomes
As a result of this course, participants will be able to:
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Explain the principles of Revenue Management
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Explain how Sales and Revenue Management complement each other
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Describe how transient and group prices are determined
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Understand the Revenue Management group evaluation process
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Conduct a displacement analysis
Course Description
Successful revenue optimization requires synergy between the Sales and Revenue Management teams. Too often, these teams are not aligned on the strategy for the hotel and the business opportunities that will achieve it. Once Sales teams understand why revenue managers make their decisions, both teams can genuinely partner to achieve hotel goals. This course will teach Sales professionals the basics of Revenue Management and how it overlaps with Sales, including transient pricing basics, business evaluation, and displacement analysis. Upon completion, they will be better equipped to partner with Revenue Management to make profitable business decisions.
Group Forecasting
Learning Outcomes
As a result of this course, participants will be able to:
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Understand the importance of group forecasting
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Explain the concepts behind a successful group forecast
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Prepare a group forecast
Course Description
Sales and events professionals typically receive training on entering group forecasts into the Sales or Revenue Management systems; however, they are rarely taught how to determine the numbers to enter. This course will explore the concepts needed to confidently forecast group blocks, including wash factors, booking pace, group patterns, and revising forecasts as the arrival date approaches.
Conducting a Price-Value Analysis
Learning Outcomes
As a result of this course, participants will be able to:
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Explain the concept of value from the customer’s perspective
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Describe the conditions that determine the appropriate price for a hotel room
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Conduct a Price-Value Analysis
Course Description
This course presents a framework for hotels to evaluate their pricing. We discuss the customer’s perception of value, market segmentation, and how to identify appropriate competitors. We then introduce the Price-Value Analysis, a tool that allows a hotel team to determine its market position using a qualitative comparison to its competitors. The results are used to analyze the hotel’s price position and whether it is appropriate relative to the customers’ perception of value and the pricing of the hotel’s competition.
Evaluating Group Business
Learning Outcomes
As a result of this course, participants will be able to:
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Explain the criteria Revenue Managers use to evaluate group opportunities
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Evaluate various group opportunities
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Perform a displacement analysis
Course Description
The process that Revenue Managers use to evaluate group opportunities can seem daunting and opaque. In this course, we will break down the steps that are used and the criteria against which group opportunities are evaluated. Participants will learn the importance of group pattern and rooms to space ratios, how to select between various date options, and how to perform a displacement analysis.