Module 11 – Dynamic Pricing and Capacity Management
Duration 2 hours approx
- Learn how to transition from a static pricing strategy to dynamic
- Understand how to select the right type of rates to support and reflect the individuality of your property
- Remove the fear of the unknown in overbooking and use the guidance we have researched for you to try a more measured approach
£45.00
What will you learn?
In this module we look at the practicalities of pricing and the use of price as one of your levers in implementing revenue management, we review the different categories of pricing available to you, what they are designed to do and how they work, and continue with how to build a dynamic pricing strategy. The concept of open pricing introduced by Duetto Research is covered together with other inventory controls that you can select to fine tune your pricing strategy. Finally we cover how to implement and manage an overbooking strategy.
What will you get
- 8 easy to follow video tutorials introduce the practicalities of pricing
- An easy to understand review of the different rates categories available
- A step by step introduction to how to create a dynamic pricing strategy
- An introduction to how to improve the flexibility within your pricing to appeal to the maximum number of consumers
- ‘Test your Understanding’ with our Knowledge Check
- Need some additional support? Become a member of Revenue Academy and join a live session here, and get some great discounts!
Content and Topics
1) Introduction
2) Topic One Dynamic Pricing as a lever in revenue management
3) Topic 2 The role of rate types in use across a pricing strategy
4) Topic 3 How to create a dynamic pricing strategy
5) Topic 4 An introduction to Open pricing
6) Topic 5 Capacity Management and Optimisation Objectives
7) Topic 6 Overbooking as an inventory management tool
8) Summary
9) Knowledge check – 10 questions
This is for you if you
- Know what differential pricing is, how I will benefit you but are unsure how to get it in place
- Want to increase the flexibility of your pricing to support a customer you know would book
- Want to understand why overbooking is used, how to assess the risk, and how to implement a strategy should you wish to
- Are an aspiring revenue manager within a hotel who wants to make a valuable contribution to optimise incoming revenues
- Are a revenue manager that wants to fine tune your skills
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