£210 – £300

Managing your 'space' more profitably

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Revenue Management for Meetings and Events is a complicated business … or is it?


This is a very basic workshop aimed at giving you a taste of what Revenue Management would mean to your Meetings & Events business.


The foundations of RM are based on 1 simple practice, covering 3 basic areas; this being accurate and consistent data capture of:-
1) your total demand 2) your competitors 3) your local market

The key is being able to capture this data in a user-friendly way; to get the most out of any external reports available to you (i.e. Touchstone) and to regularly review this information and agree a relevant strategy based on demand and ‘booking trends’.

This workshop will give you an understanding of how you can simply implement a Revenue Management culture in to your Meetings & Events business by introducing some basic tools, easy to understand reports and some structured disciplines as part of your team’s every day focus.

It is a fun, interactive workshop that includes lots of exercises around a ‘virtual’ Meetings and Events office and concludes in a competitive Business Game. Your team will leave confident and focused on what they need to action back in your business.

The ROI will be to achieve your financial targets through maximising rate opportunities and managing your available space more effectively.

Objectives:

At the end of the day you will …
• have a better understanding of Revenue Management principles and a greater knowledge of ‘Revenue per Available Space v Occupied Space’ and how Meetings and Events should play a crucial role in ‘managing your space more profitably’
• be able to implement the ‘tools’ you need to capture data in a simple, user-friendly format to help you easily understand your demand, booking trends, market segments, business mix and competitors
• be able to utilise the Touchstone Reports to help you better understand your market and business
• be able to analyse this data, identify patterns in your business and how to apply a clear and relevant strategy to future demand, rates and negotiation levels
• have confidence to set a clear and relevant Selling Strategy to ensure you increase your Revenue per Occupied Space
• have fun putting everything into practice in a ‘virtual’ Business Game and feel inspired to take what you have learnt back to your venue.


Aimed at:
Ideally delegates will be Meetings and Events Managers, Supervisors or established Co-ordinators. It would also benefit General Managers with a ‘hands on’ approach to their Meetings and Events business.

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