CRFACertificate in Revenue Forecasting and Analysis
Rating:
English
Intermediate
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Course Overview
This course will introduce you to the concepts of revenue management and provide you with the necessary tools and techniques to effectively manage the operations of a hotel. You will also gain a deeper understanding of the management team's mindset. This course will also allow you to build on your knowledge and develop a better understanding of the business strategy of a hotel.
This course is designed for hotel owners, managers, and students who want to learn more about revenue management.
Revenue forecasting refers to the use of analytical techniques to produce estimates of future financial inflows for the government. It is of crucial importance to policymakers, as it helps them devise sound public polices and plan spending programs based on these projected revenues. While governments derive revenues from various sources, taxes typically are the main funding mechanism. Therefore, this course focuses on the forecasting and analysis of tax revenue.
Key Takeaways
1
Basics of Revenue Management.
2
Learn about the various indexes and matrices used in evaluating performance
3
Gain more insights into the elements of Revenue Management like tools and support strategies
4
Learn how Revenue Management can be applied to every area on business and life in general.
5
Analyze fundamental principles and trends in tax revenue analysis.
The International Monetary Fund
The International Monetary Fund (IMF) is an international organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, and promote high employment and sustainable economic growth. The IMF supports its membership by providing: policy advice to governments and central banks; research, statistics, forecasts, and analysis; loans to help countries overcome economic difficulties; and technical assistance and training to officials to help countries improve the management of their economies.The IMF training program includes topics spanning macroeconomic analysis, monetary and fiscal policy, macro-financial linkages, balance of payments issues, financial markets and institutions, as well as statistical and legal frameworks in these areas.
Course Outline
Day 1
Chronological History of Revenue Management
Principles and fundamentals of Revenue Management
Revenue Management Cycle
Types of Market Segments
Segment Mix
Types of Pricing Strategies
Forecast Based Pricing
Segment Based Pricing
Parity Strategy
Discounting
Flash Sales
Upselling and Cross Selling
Day 2
Tools for Revenue Management
Global Distribution System (GDS)
Revenue Management Systems (RMS)
Online Travel Agents (OTAs)
STR - Smith Travel Research Report
Channel Management Tools
Property Management Systems (PMS)
Basic indicators and matrices
Day 3
Maintaining credit sales relationship
Role of sales in issuing credit and in collection
Accounts receivable process analysis
Improving the quality of accounts receivable
Aging of accounts receivable and bad-debts reserves
Alternatives in computing bad-debt
Reducing bad-debt write-offs
Calculating accounts receivable turnover
Calculating Days Sales Outstanding (DSO)
Calculating Best Possible Days Sales Outstanding (BPDSO)
Day 4
Collection Effectiveness Index (CEI)
Analyzing the operating and cash cycles
Managing AR through portfolio strategy
Analyzing the size, composition and complexity of the AR portfolio
Segmenting the portfolio
Formulating an approach for specific segments
Staying in control
Internal controls in AR processes
AR and the monthly closing of accounts
Outsourcing of accounts receivable functions
Who Should Attend?
•Revenue Management Professionals
•Hotel Management Students
•Hospitality professionals
•Travel & Tourism professionals
•Sales and Marketing Professionals
•Hotel General Managers
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FAQ
What language will the course be taught in and what level of English do I need to take part in an LEORON training program?
Most of our public courses are delivered in English language. You need to be proficient in English to be able to fully participate in the workshop and network with other delegates. For in-house courses we have the capability to train in Arabic, Dutch, German and Portuguese.
Are LEORON Public courses certified by an official body/organization?
LEORON Institute partners with 20+ international bodies and associations.We also award continuing professional development credits (CPE/PDUs) for:1. NASBA (National Association of State Boards of Accountancy) 2. Project Management Institute PDUs 3. CISI credits 4. GARP credits 5. HRCI recertification credits 6. SHRM recertification credits
What is the deadline for registering to a public course?
The deadline to register for a public course is 14 days before the course starts. Kindly note that occasionally we do accept late registrations as well, but this needs to be confirmed with the project manager of the training program or with our registration desk that can be reached at +91 4 95 5711 or register@leoron.com.
What does the course fee cover?
The course fee covers a premium training experience in a 5-star hotel, learning materials, lunches & refreshments, and for some courses, the certification fee and membership with the accrediting bodies.
Does LEORON give discounts?
Yes, we can provide discounts for group bookings. If you would like to discuss a discount on a corporate level, we will be happy to talk to you.
Reviews
- Review:IAMM Internal Audit Maturity ModelIn recognition of their dedication and contribution supporting IKEA Saudi Arabia in arranging training programs during 2017 & 2018, looking forward for more development and exciting effort this year. On behalf of IKEA Saudi Arabia, THANK YOU!Dalal Kutbi
- Review:Certified Professional in Quality and Patient SafetyDating back to 2014, Mobily’s “LEORON” experience has grown from a single collaboration to a long-term partnership. We consider “LEORON” Institute as a strategic partner, whose contribution has been nothing but premium in equipping our staff with field-based knowledge and information. Past three years have resulted with an expanded collaboration with superior customer service and support. Best Regards,Turki S. Alsahaan
- Review:Certified Professional in Quality and Patient SafetySince the partnership was signed between BAE Systems Saudi Development & Training and LEORON in 2017, we have been working together to offer the Saudi market a complete portfolio of training solutions benefiting from the wide and extensive experience of both parties. Recognizing the great success of this partnership, we are looking for further collaborations in the future that will position both companies as one of the leading training providers in Saudi Arabia. We thank the LEORON team for their full cooperation and continuing support, and look forward to further success together in the years to come.Emad Alrajih
- Review:Certified Professional in Quality and Patient SafetyWe have been working with LEORON for the past two years and will be working with them again this upcoming year. The programs they delivered were fruitful and exciting and our organization has received positive feedback from the participants. What our organization aims to do is to provide at no cost training for all the private sector employees so that they may benefit from our offered programs in Innovation and Professional development. Leoron has helped us achieve this goal. We look forward to continuing this service and wish them the best of luck. Regards,Nasser M. Al-Subaie
