Revenue Management Training

Revenue Management Training: Put a top-notch coach in your corner.

Every great athlete has at least one coach—someone who can take raw talent and shape the skills, the passion, and the sheer tenacity of a winner. 

For revenue management professionals, training is critical, especially if senior management lacks the time to develop skills and keep up with a rapidly evolving discipline. Buckhiester Management meets revenue management training needs with one-on-one and revenue team coaching services. Find out what onsite or web-based coaching can do for your hotel.

Using a best practices approach, Buckhiester will work with your revenue manager or revenue team to enhance revenue management skills. Sessions are conducted via the Internet, making it easy for those being coached to work sessions into their busy schedules. Skill development will be centered on Buckhiester’s proprietary revenue management business process REVRoadMap®. Elements of this process include the following key components: product alignment, competitive benchmarking, strategic pricing, demand forecasting, business mix manipulation, and distribution management.

Onsite or web-based training, coaching & development.

There are three target audiences for revenue management training:

Revenue Management Training

01. Hotel revenue management teams

General Manager, Director of Sales, Front Office Manager, Reservation Manager, Revenue Manager/Director of Revenue Management, and Director of Finance.

  • Global distribution strategy development (CRS, GDS, Internet, OTA, meta-search, etc.)
  • Strategic pricing
  • Duration optimization
  • Product positioning and interpretation of performance indices
  • Leveraging competitors’ weaknesses
  • Business mix analysis and redevelopment
  • Transient baseline development
  • Interpretation of third-party market intelligence reports (e.g. STAR™, Rate360™, Agency360™, etc.)
  • Using reputation management to hit the sweet spot in dynamic pricing
  • Displacement analysis
  • Effective/efficient decision-making processes
  • Creating packages that sell
  • Communicating sell strategies
02. Revenue manager/director of hotel revenue management

One-on-one coaching for the revenue manager or director, or person in the revenue or yield management role.

  • Interpretation of third-party reports
  • Advanced tactical statusing
  • Forecasting (three distinct methodologies: occupancy, revenue, and demand)
  • Improving forecast accuracy
  • Leveraging room type inventory
  • Advanced management of electronic distribution
  • Application of stay controls
  • Denied reservation tracking and data interpretation
  • Customized hotel revenue management decision support tools—design and development
  • Tracking historical trends
  • Developing checklists for revenue management implementation
  • Applying block wash tactics
  • Competitive benchmarking strategies
  • Business mix manipulation tactics and strategies
  • Connecting revenue management to search, social, and mobile trends
03. Departmental staff

Sales, reservations, front desk, and conference services.

  • Salesmanship and up-selling techniques
  • Dealing with oversold dates
  • Developing effective sales-oriented scripts
  • Understanding multiple reservation sources
  • Managing in-house reservations productivity (abandon ratios, conversion ratios, revenue targets, average speed of answer, talk time, and outbound revenue opportunities)
  • PMS, sales/catering, and hotel revenue management software configuration and utilization
  • Evaluating group business
  • Establishing sound group block wash practices
  • Forecasting groups accurately

Get in touch with us, we’re easy to reach.

We are here to help your organization take a best-practices approach to hotel revenue and yield.

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