Page Contents
- What is Hospitality Revenue Management?
- 5 Best Free Hotel Revenue Management Courses Online
- 1. Hotel Management: Distribution, Revenue & Demand Management Specialization
- 2. Hotel Management – Revenue Management for Beginners
- 3. Hotel Management – Concepts of Budgeting & Forecasting
- 4. Revenue Management for the Hospitality Industry
- 5. Hospitality Management: Revenue Management Specialization
- How do you become a revenue manager?
- What does a hotel revenue manager do?
- How much does a revenue manager earn?
What is Hospitality Revenue Management?
Hospitality Revenue Management is a system through which all the revenues of a hotel are managed more effectively and efficiently. All these data are then utilized to make appropriate decisions on pricing and distribution strategies.
5 Best Free Hotel Revenue Management Courses Online
List of hotel revenue management online certification classes:
1. Hotel Management: Distribution, Revenue & Demand Management Specialization
From: Coursera
This is a great free hospitality revenue management course from Coursera.
Through this course, you will learn the basics of Hotel revenue management, distribution, and demand management.
To take this online course you need no prior experience in this industry, designed for complete beginners.
And it’s a self-paced course from which you can learn new tools and techniques and the importance of Hotel branding which is very helpful for the effective marketing of hospitality services.
What You’ll Learn from this Course:
- Learn the basics of Hotel revenue management, distribution, and demand management.
- Learn the importance of Hotel branding.
- Learn the entire Hotel revenue management system.
- Learn the strategic management system.
Course Duration: Approx. 4 months
Certificate of completion: Yes
Enroll in this Course>> [Most Recommended]
2. Hotel Management – Revenue Management for Beginners
From: Udemy
The Hotel or Hospitality industry is the fastest-growing industry and also a vast industry. So in the Hotel business, revenue management is the most important task to run a hotel successfully and profitably.
So, through this free online hotel revenue management course, you can learn how to manage hotel revenues.
Also, you can learn how to monitor the revenues generated from hotel rooms, engage, and manage to overbook customers step by step process.
What You’ll Learn from this Course:
- Learn how to manage the revenue to keep the hotel business rolling smoothly.
- Learn to monitor the revenues generated from hotel rooms.
- Learn how to manage to overbook.
- Know about the overall revenue management system step by step.
Course Duration: 1.5 hours
Certificate of completion: Yes
3. Hotel Management – Concepts of Budgeting & Forecasting
From: Udemy
Through this revenue management certification course online by Udemy, you will learn practical forecasting and sound judgment techniques.
Also, you learn the exact techniques for revenue management from beginning to advance. This course will help you to learn critical revenue management techniques and in-depth training about revenue.
This course will help you to excel in your current position, and move toward your career goals.
What You’ll Learn from this Course:
- Learn how to calculate the best use of the property at the best prices.
- Managing revenue and plotting price points that make the property successful.
Course Duration: 2 hours
Certificate of completion: Yes
4. Revenue Management for the Hospitality Industry
From: Udemy
Through this revenue management online certification class from Udemy, you’ll get in-depth training about revenue and also the most critical revenue management techniques and strategies.
This online course will also teach you how to manage the revenues of a hotel step by step.
And you will also learn the best strategies how to handle or control revenues. The course is designed by the top hotel revenue experts.
What You’ll Learn from this Course:
- Will explain the role of forecasting in hotel revenue management.
- Learn the strategic levers of hotel revenue management to increase revenue.
- Learn to manage potential customer issues associated with overbooking.
- Learn methods for extending the practice of revenue management to other industries.
- Develop a functional revenue management plan, from gathering baseline data to monitoring post-implementation results.
- Learn to set appropriate rate fences to create appropriate customer segments.
Course Duration: 2 hours
Certificate of completion: Yes
5. Hospitality Management: Revenue Management Specialization
This FIU’s online master’s degree in Hospitality Management with a Revenue Management specialization is an applied business degree that gives you the flexibility to complete it from your own space and at your own pace.
Through this online MBA in revenue management course, you can learn specific managerial and finance mastery which is very helpful to buildup the business side.
This course will teach you finance, human resources, marketing, law, and also globalization, and the best competitive methods for multinational companies and leadership.
Also, you can learn about hospitality enterprises’ technologies, segmentation, price optimization, and strategic revenue management. Also, you learn how to manage the revenue and new strategies of the revenue management system.
And also after completing this degree course, opportunities are endless because the hospitality industry is one of the largest service industries and also it’s a growing industry.
What You’ll Learn from this Course:
- You learn specific managerial and finance mastery.
- Globalization and competitive methods of multinational hospitality companies.
- Learn about the Demand Management.
- About Hospitality Enterprise Technology.
- Also about Segmentation & Price optimization.
- Organizational behavior in the hospitality industry.
- And strategic revenue management.
Course Duration: 12 months
Certificate of completion: Yes
Some Frequently Asked Questions:
How do you become a revenue manager?
To be eligible for the Hotel Revenue Manager position, you need a degree, particularly in management, like economics, finance, business, computer science, and mathematics, and especially need a degree in revenue management.
After that, you need to do a job to gain the required experience of a minimum of 2-4 years. And then, you can become a hotel revenue manager successfully.
What does a hotel revenue manager do?
1. A hotel revenue manager maintains or controls all the Hotel inventory.
2. Develop and manage hotel sales strategies.
3. Conduct competitive and demand analysis which is required.
4. Motivate all the employees during their busy schedules.
5. The hotel revenue manager has very good time management skills and they can distribute the work nicely.
6. They regularly check whether the Hotel’s revenues are managed perfectly or not.
7. Conduct training programs and training systems for the team members.
How much does a revenue manager earn?
A Hotel Revenue Manager earns a minimum of $15,716 to $416,803 with a median salary of $75,325 per annum.
