REVENUE MANAGEMENT IN MICE
With Meeting and Events revenues accounting for a significant portion of a hotel’s financial performance, hotels are increasingly looking towards meetings and events as the next source of business growth. This area has been underestimated in the past due to a lack of in-depth understanding and appreciation of the positive benefits that revenue management can bring to this key department. With the overlapping nature of the revenue streams they can hardly be separated from one another. Adapt the Revenue Management Principles within your MICE department!
+ online pre- and postwork
8 – 18
Note: this training is also available as an incompany training. Click here to request information or contact our global support office at +31 (0)23 – 510 0 510.
The participants will become familiarized with the principles of revenue management as they apply to the area of Meeting, Incentive, Conference and Event sales (MICE). The course will provide an overview of collecting useful past performance data, so that successful targets and strategies, which increase profits in the area of MICE sales, can be set. These targets and strategies will be created with the fundamental principles of Revenue management.
EXPECT THE BEST. PREPARE FOR THE WORST. CAPITALIZE ON WHAT COMES
WHAT WILL YOU LEARN?
Understand and define the basics of revenue management in MICE.
Explain why revenue management is crucial to MICE sales.
Adopt principles of revenue management to MICE process.
Understand the elements of forecast and its importance to set a pricing strategy.
Understand the KPI’s used in MICE.