10940NAT
Course in Revenue and Yield Management Fundamentals
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Work-based delivery
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8 weeks
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$900
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Award issued by Tactical Training Group - RTO Code: 91054
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Overview
Develop the skills and knolwedge required to perform in the role of a revenue and/or yield analyst at an entry-level within the hospitality industry.
This course aims to provide you with a fundamental understanding of the key elements in the process of revenue and yield management and how to apply the process in a practical business environment to grow company revenues and yield.
Who is this course for?
This course is suitable for anyone seeking to work within the hospitality and tourism sectors within job roles responsible for managing asset yield and company revenue.
You may be a current e,mployee of the industry working within a relavnt job role and/or seeking to develop the slkills required to move into a relevant job role.
Course plan
Perform basic yield management calculations
Develop the skills and knowledge required to perform and record basic yield management calculations used by all accommodation operators on a daily basis to manage their accommodation inventory.
It covers the ability to source and verify required data, apply correct formulae to perform basic data calculations and comply with organisational requirements for recording and reporting the calculated figures.
Units of competency addressed:
Analyse and propose yield management strategy options
Learn the skills and knowledge required to evaluate of a range of short and long term strategy options for maximising yield and revenue for an accommodation property. This includes proposing, and obtaining approval to implement, a preferred combination of strategies that comprise an organisation’s total yield management strategy for the achievement of organisational yield goals.
You will learn how to use key performance indicator calculations and to apply an understanding of, and the relationship between, yield management strategies, including length of stay restrictions, accommodation pricing and product distribution channels to propose an effective combination of strategies for implementation.
Units of competency addressed:
Implement and evaluate total yield management strategy
In this unit describes you will develop the skills and knowledge required to implement the combination of approved strategies that comprise an organisation’s total yield management strategy. This unit also includes conducting an evaluation of the effectiveness of the strategy and identifying and implementing opportunities to improve future yield results.
Learn how to use organisational computer systems to give effect to aspects of the strategy, effectively communicate details of the strategy to key stakeholders and operational staff in accordance with organisational procedures and to effectively monitor, over time, the results with reference to current and future revenue and yield goals.
Units of competency addressed:
Learning outcomes
By the end of this course, you will be able to:
- Obtain and verify data relevant to yield management.
- Perform key performance indicator (KPI) calculations to assess revenue and occupancy.
- Record and report calculated yield management figures accurately and clearly.
- Review data and current strategies to identify potential yield management improvements.
- Analyse the impact of length of stay restrictions on revenue and guest experience.
- Select appropriate dynamic pricing strategies to optimise revenue.
- Evaluate and choose the best product distribution channel strategy for your business needs.
- Develop and finalise a comprehensive yield management strategy.
- Implement inventory control restrictions based on length of stay.
- Adjust pricing and distribution channels according to approved strategies.
- Monitor and assess the effectiveness of your overall yield management strategy.
Frequently Asked Questions
The course is a 100% online course. This means you will complete the development of knowledge and skills through E-Learning.
You will be required to participate in an interactive Webinar at the commencement of the course and complete a range of E-Learning modules and assessment tasks including:
- Micro interactive learning modules
- Case studies
- Simulated activities and workplace-oriented projects
The course includes a webinar at the commencement of training of approximately 90 minutes in length.
Through Allara Learning’s Student Portal you will be able to:
- Participate in live webinars
- Access your learning materials and assessments
- Undertake and complete assessments
- Contact your trainers and assessors
- Network with your peers through online student forums
- Receive feedback on your assessment outcomes
- Access a wide range of support materials and resources
This course is delivered online. It is typically completed within 8 weeks; however, it can be completed in a shorter timeframe.
The course must be completed within the maximum enrolment period of 12 weeks.
Education entry requirements
There are no formal entry requirements for this qualification.
English language requirements
In order to successfully enrol in this course, you must have a level of proficiency in written English, allowing you to engage in the course materials and content, and ensuring you can undertake the variety of assessments.
Physical requirements
No physical requirements apply to this course.
No government subsidised training applies to this course.
You may complete payment of your course fees via a payment plan.
Having access to a workplace environment, either through paid employment or work-experience will benefit your personal development, however, is not essential to this course.
This course is an accredited short course and is not eligible for a traineeship or apprenticeship pathway.
To access learning and assessment materials and attend webinars, you will need to have access to a computer or tablet with internet access.
Your computer will need to have an appropriate suite of office software such as Microsoft office, G Suite or equivalent installed.
Some assessment tasks and projects may require access to a printer and scanner.
Yes, this course is an accredited course and leads to a nationally recognised certificate.
Upon successful completion of this course, participants will receive a nationally recognised certificate for, 10940NAT Course in Revenue and Yield Management Fundamentals.
Tactical Training Group Pty Ltd, RTO ID 91054 is responsible for the quality of the training and assessment in compliance with the Standards for RTOs, 2015 and for the issuance of the AQF certification documentation.
Whilst undertaking training with Allara Learning, you will be provided access to a range of support services including:
- Academic and learning support
- Language, literacy and numeracy support
- External support and counselling services
- Peer networks
For more information please see the Participant Handbook.
We recommend that you read the Participant Handbook prior to enrolling with us.
This course is targeted for workers within hospitality enterprises and provides an opportunity for participants to advance their careers in a wide variety of roles within the industry that relate to the management of organisation yield strategies and revenue.
Yes, skills and qualifications you already have may count towards your qualification.
Contact our client relations team to enquire and/or apply for RPL.