Hospitality
Always stay relevant.
In this modern day and age, the increased supply and competitions throughout the hotel industry means that hoteliers must adhere to a consistent, long-term revenue, pricing, distribution and market share strategy.
Hospitality professionals and managers are faced with the daily daunting tasks of generating demands, making key decisions in setting the appropriate occupancy and rates in order to maximize and optimize the total revenue and delivering exceptional service experience in gaining customer loyalty for their respective hotels or resorts. The ability to integrate the right people, right processes and right tools will contribute significantly to the increase in performance, productivity and profitability.
Hoteliers should look closely to find spots where budgets can be made more efficient and the property’s food-and-beverage operation is one place to start. The idea of “doing more with less” requires managers to operate in a creative manner about ways to operate more effectively (in other words to “do the right things in the right way”) and to examine possibilities for cost savings that will not affect the guest’s perception of brand value and experience.
Talent & People development continues to be a challenge in the hospitality industry however organizations that has made a strategic decision to invest in equipping their associates are now reaping the rewards with more sales, better revenue, higher profitability and exceptional service experiences and deliverables.
Essentials of Hotel Revenue Management
Hospitality managers are faced with the daily daunting task of making key decisions in setting the appropriate occupancy and rates in order to maximize and optimize the total revenue for their respective hotels.
In this 2 days workshop, participants will be introduced to the essential and fundamental of revenue management methodologies, concepts, processes and most importantly, the practical applications of the tools and strategies discussed and learnt from the workshop.
Who Should Attend:
General Managers, Front Office Associates, Revenue Managers, Sales And Marketing Professionals, Other Hospitality Managers esponsible for the Revenue And Financial Performance of their hotels or organizations.
At the end of this program, participants will be able to:
– Demonstrate a good understanding of hotel revenue management and describe its benefits.
– Identify the challenges and shortfalls of using traditional methods and tools in measuring and managing revenue and performance.
– Describe the key components and conditions in hotel revenue management and the importance of a systematic revenue management process.
– Define and calculate RevPar, as a key measurement in optimizing room revenue
– Create and applying key steps in forecasting based on a systematic revenue management methodology in measuring its accuracy, in its importance to the sales functionality.
– Apply restriction controls in managing inventory and availability based on demand patterns.
– Understand and apply effective pricing strategies during low demand, shoulder and peak periods to optimize revenue, including distribution channels.
– Implement effective selling strategies and tactics in hotel revenue management.
– Understand the key indicators and importance of a market share report as a benchmark for performance.
– Introduction to Hotel Revenue Management
– Revenue Optimization methodology and processes
– Key components and conditions in successful hotel revenue management
– Key measurement indicator in optimizing room revenue, restaurant and catering
– Forecasting – Steps, Measurements and Accuracy processes in Revenue Management
– Restriction, Inventory and Control Management in managing Availability
– Developing effective Pricing Strategies and how to manage pricing through distribution channel
– Effective Sell and Revenue Strategies and tactics for revenue optimization driven organization
– Understand the key indicators and importance of a market share report as a benchmark for performance
Food & Beverage Cost and Profitability Optimization
The workshop is full of ‘Key Principles And Procedures Involved In An Effective Food And Beverage Control System’ and help the participants to understand them, which include the standards determination, the operating budget, cost-volume-profit analysis, income and cost control, menu pricing, labour cost control, and revenue/profitability optimization to achieve goals and hotel budget.
Who Should Attend
Hospitality Professionals, Hotels and Restaurants, Food & Beverage executives, Kitchen Associates, Assistant Managers.
We Provide Company Training
- Standard or customised courses available. For further enquiries, please click HERE.
At the completion of this course, participant would be able to:
– Define “control,” and recognize its importance in the management system.
– Elaborate on the purposes and applications of standard costs and the uses of standard cost tools.
– Perform menu engineering analysis for better profitability
– Apply principles and procedures important in controlling the purchasing and receiving processes, and recognize the need to incorporate quality requirements in purchasing and receiving activities.
– Identify the goals of effective storage and issuing controls, describe physical and perpetual inventory systems, and recognize the need for accurate inventory record keeping systems.
– Forecast production needs based on sales history records and time series analysis.
– Discuss the importance of standard recipes (including computerized standard recipes) as production tools, and justify production planning time.
– Understand and apply the basic formula for calculating cost of sales, and identify sources of information for each component of the formula.
– Understand and apply theft prevention procedures.
– Recognize the importance of the guest, the server-guest relationship, and the principles of good service.
– Apply Revenue Optimization Strategies in generating F & B revenue opportunities
– Introduction to Food and Beverage Control
– Planning for Food and Beverage Control through the Menu, the FIVE standard cost tools, and the Operating Budget
– Implementing Effective Food and Beverage Control Systems
– Using Information from the Control System
– Labour Cost Control
– Key Measurements of Food and Beverage Revenue Indicators
Sales and Service Mastery
It’s no secret that hospitality sales & service have changed in recent years. We are all working harder, with more responsibilities. High pressure selling is no longer effective. Customers want involvement. They want to be recognized and listened to. And they don’t want you to forget them once the sale is made.
Two key objectives of this 3 days workshop are to help participants feel more comfortable and skilled in selling to their customers and to help them identify and address some of their customer service challenges.
Participants will also discover that the business of business is in making friends, and the business of all sales professionals is in making friends and building relationships. Strategic friendships will make or break any business, no matter how big and no matter what kind of market.
Who Should Attend
Hospitality Sales & Marketing Professionals, Associates with Sales Responsibilities from Food & Beverage, Catering, Front Office, Anyone who would like to enchance their Hospitality Sales & Service Effectiveness.
– Fundamental And Psychology Of Selling In Gaining Personal Mastery
(How to Capitalize on the Dynamics of Human Relations)
– Learn and practice powerful and persuasive sales communication strategies to create effective impression and long term relationship
– Understand and adopt the powerful Relationship Selling ‘HI IMPACT’ framework
(How to Get Real Commitment and Buy-in)
– Gaining new insights and skills in probing, power of questionings in developing benefits
– Reduce Sales Objections Through Practising Six-step
– Proven Clarification Strategies
– Manage Difficult Customers With An Influential Positioning
– Communication Strategies and Tactics to Use in Professional Sales Closing
– Communication Strategies and Tactics to Use in Professional Sales Closing
– Gain new powerful and effective sales tools in the sales process
– Leverage on the power of effective upsell and suggestive selling
– Develop sales personnel into becoming hospitality sales professional with revenue optimization focus.
– Fundamental And Psychology Of Selling In Gaining Personal Mastery
(How To Capitalize On The Dynamics Of Human Relations)
– Learn And Practice Powerful And Persuasive Sales Communication Strategies To Create Effective Impression And Long Term Relationship
– Understand And Adopt The Powerful Relationship Selling ‘Hi Impact’ Framework
(How To Get Real Commitment And Buy-in)
– Gaining New Insights And Skills In Probing, Power Of Questionings In Developing Benefits
– Common Types Of Sales Objections Faced By Sales Professional
– Communication Strategies And Tactics To Gain Commitment/ Closing
– How to Favorably Present Your Ideas and Products
Sales Negotiation
In today’s competitive hospitality market, decision makers are becoming more sophisticated as they seek to manage the buying process to drive the best possible deal. Assertive buying strategies and competitive forces present a significant threat to sales revenues and profit margins.
Hospitality consultative sales negotiation strategies aim to increase sales revenue whilst creating the best possible value for the customer. Focused analysis of the power balance within competitive sales situations coupled with strong processes can equip the sales person to get the maximum value for their solution.
Who Should Attend:
Executives, Managers, Salespeople who seek the Negotiating Skills necessary to meet their responsibilities for Negotiating The Best Possible Terms of an agreement for their company.
Please take note:
This Program Is Not Intended For Labor Union Negotiators On Either Side.
– Construct a value proposition that works with your customers
– Sell a “solution”, as opposed to “a standard product”
– Control the selling process-knowing what is going to happen next
– Differentiate yourself from your competition
– Better manage customer expectations (How to keep your customers happy)
– Apply win-win negotiating techniques and strategies
– Deal with “No’s” and Stalls
– Identify and eliminate potential problems early in the sales process
– Create a process of mutual consent
– Deal with confrontational, demanding and and/or irate customers
– Change a customer’s negative perception
– Mastering The Buying And Selling Process
– How To Capitalize On The Dynamics Of Human Relations
– How To Get Real Commitment And Buy-in
– Qualify And Clarify Problems, Priorities, Authority And Investment To Seek A Better Solution For Your Customer
– Negotiating For Mutually Beneficial Outcomes
– Communication Strategies And Tactics To Use In Persuasion
Leadership in Revenue Strategy
Revenue management continues to evolve at a rapid pace within the hospitality industry. Recent studies and research are anticipating a shift from the room-based emphasis of tactical revenue management to a more strategic focus on total hotel revenue (or gross operating profit). Demands continue to fluctuate as hotel inventories grow across Asia Pacific. Revenue managers and the hotel leadership teams are needed to see the overall bigger picture when it comes to revenue & profitability opportunities and optimization.
Competent Revenue & hotel managers are expected to be more strategic and have strong analytical, communication and leadership skills needed to effectively work and communicate with different & multiple stakeholders in their organization.
This all new 2 days Leadership in Revenue Strategy was developed on this premise of growing and developing hospitality professionals in meeting the demands for the skills set, knowledge and mindset in leading their teams from a more strategic approach besides taking their fundamental skills & knowledge of Revenue Management to the next advanced level of applications and competencies.
Who Should Attend:
General Managers, Front Office Associates, Revenue Managers, Sales And Marketing Professionals, Other Hospitality Managers responsible for the Revenue And Financial Performance of their hotels or organizations.
Program Prerequisite :
Participants must have attended 2-day Essential of Hotel Revenue Management prior to this workshop
At the end of this program, participants will be able to:
– Understand what it takes to have the leadership mindset for peak performance
– Engage stakeholders in Influential Communication
– Understand, prepare & develop the budget and forecasting process
– Understanding the strategic impact of sales revenue, salaries, overhead cost, capital, cash flow, profit and loss and balance sheet.
– Implement effective segmentation, mix and rates strategies for hotel revenue management & forecasting for revenue optimization
– Strategize restriction controls at different demand patterns and availability based on demand patterns
– Understand and implement Pricing Strategies in transient and group segments & its related cost implication that affect revenue and profitability
– Online distributions – new trends and opportunities in leveraging technology and processes for revenue optimization
– Interpret and analyze the opportunities / challenges from the market share results and using revenue strategies in decision making process to optimize performance
– Impact of Customer Relationship Management in building loyal customers and sustaining raving fans
– Leading a hotel revenue management team efforts in maximizing rooms and other revenue streams
– Understand what it takes to have the leadership mindset for peak performance
– Engage stakeholders in Influential Communication
– Understand, prepare & develop the budget and forecasting process
– Understand the strategic impact of sales revenue, salaries, overhead cost, capital, cash flow, profit & loss & balance sheet.
– Implement effective segmentation, mix and rates strategies for hotel revenue management & forecasting for revenue optimization
– Strategize restriction controls at different demand patterns and availability based on demand patterns
– Understand and implement Pricing Strategies in transient and group segments & its related cost implication that affect revenue and profitability
– Online distributions – new trends and opportunities in leveraging technology and processes for revenue optimization
– Interpret and analyze the opportunities / challenges from the market share results and using revenue strategies in decision making process to optimize performance
– Impact of Customer Relationship Management in building loyal customers and sustaining raving fans
– Leading a hotel revenue management team efforts in maximizing rooms and other revenue streams