While being the head of revenue management department at corporate level, I came across so many junior colleagues who wanted to learn revenue management. They wanted if I could train them on revenue management or if I could guide them on where they could get trained on hotel revenue management and electronic distribution.
Not many of them, even today, get an opportunity to attend a training or workshop on revenue management. So then how can these executives learn what revenue management is and get trained to become a revenue management professional.
Well is it only when you want a career in revenue management that you should get a training on revenue management? I don't think so. Then who all should get to understand the revenue management approach? As per me the entire hotel operations and sales staff is responsible to adopt the revenue management approach and techniques that can be implemented in their area of work.
Revenue management to me is a thought process and way of looking at incoming business at the hotel. Business at a hotel can be new room bookings or ancillary business from the in-house guests or restaurant walk-in or club members. Adjusting the business in such a way that maximum can be churned out of each business opportunity, is the art of revenue management. Revenue management is an approach, if adopted at every level at a hotel, can be beneficial for the hotel’s bottom line.
It is in the interest of the hotel owners and management, to train hotel staff in revenue management. Revenue management training should be part of regular training programmes at hotel organisations. It is about creating a revenue management culture by imparting training on revenue management and electronic distribution. This makes revenue management training the need of the hour and critical for success of the hotel.