- Launch of online learning platform, Beonprice Academy, provides revenue training to hotel professionals
- Beonprice tackles skills gap in hotel revenue management in its latest development
- Revenue management at the forefront of marketing and pricing strategies
The new online learning platform provides hotel professionals with vital training in Revenue Management, an area key to a hotel’s profitability.
The Basic certification is suited for all levels of understanding, ranging from Revenue professionals to related disciplines such as Marketing, Sales and Finance, through to Hotel and General Managers.
Intermediate and Advanced certifications are due for release in 2020, with each tier designed by Beonprice’s team of experienced hotel revenue managers and available in English and Spanish to an unlimited number of users at each of Beonprice’s RMS clients.
“When analysing the career path of many hotel revenue professionals, we noticed a pattern of internal promotions, predominantly from Reception and Reservations,” says Julia Rey, head of Beonprice Academy and a former revenue manager with more than 15 years’ experience. “The industry lacks the formal training for the increasingly complex role expected to understand the combined disciplines of marketing and pricing strategies, which is heavily reliant on technology due to the swathes of data that needs to be processed.”
“Having a solid understanding of the customer is no doubt beneficial, but it is only part of the skills needed for a successful career in Revenue Management. Revenue professionals need to be commercially-minded and highly numerate, blending those skills with the ability to make quick and savvy business decisions to yield the maximum revenues for each bedroom and outlet.”
From October 2019, all new clients of Beonprice’s RMS are provided with access to the online Academy to complete the Basics certification before accessing the RMS. With the hotel environment constantly changing, Beonprice recognised the need for all system users to understand basic revenue management principles from the offset, ensuring they can make immediate gains from their technology investment.
“We believe it’s important for clients to not only understand how our tool works, but also the genesis of Revenue Management,” continues Rey. “That way businesses are able to truly engage with their RMS, strengthening the internal culture around Revenue Management, and understanding the range of actions they can take to boost their revenue and make the system work for them.”
Customer segmentation and distribution continues to constantly evolve in the hospitality and tourism sector, and the Beonprice Academy provides the knowledge hotels need to optimise their pricing strategy. Pairing this knowledge with Beonprice’s RMS tool, hotels are able to manipulate the mix to maximise their profits and transform their culture of profitability.
Tracking and forecasting demand in a competitive market place, whilst understanding price parity and influence of OTAs and third parties, has generated the need for trained, skilled individuals who can execute the RMS.
Dedicated to hotel industry professionals, the training certification consists of five fifteen-minute modules, designed to fit around the busy diaries of the industry.
To find out more visit beonprice.com/academy