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IDeaS Revenue Solutions, the leading provider of pricing and revenue management software, services and consulting, and PhoCusWright, the travel industry research authority, have teamed up to launch the Revenue Management MasterClass. Announced in conjunction with the PhoCusWright Conference, the co-branded MasterClass is a valuable, yet affordable, educational tool hoteliers can use to create and develop a revenue management culture and common language across all departments within their business.
“We are delighted to partner with PhoCusWright and offer an effective revenue management education resource for organizations interested in strengthening their revenue management culture and taking their revenue management adoption to the next level,” said Vivek Bhogaraju, senior manager, corporate business development, IDeaS. “By combining our revenue management expertise with PhoCusWright’s learning methodologies, we can help explain the science and art of revenue management to a larger number of hospitality professionals.”
The Revenue Management MasterClass, taught by a preeminent revenue management expert, offers hoteliers a way to train their team members on the key principles of pricing and revenue management. The one-day MasterClass combines interactive e-learning, group classroom activities and instructor guidance for up to 25 attendees. The workshop content has been developed for attendees of multiple backgrounds, including revenue management, sales, catering, front office, reservations, food and beverage and housekeeping.
Each of the seven modules presented during the MasterClass is preceded with commentary from Dr. Ravi Mehrotra, president and co-founder of IDeaS Revenue Solutions. With more than 25 years of experience in revenue management, Dr. Mehrotra provides key strategies and tactics for maximizing profitability and mastering concepts such as market segmentation, pricing and forecasting.
“PhoCusWright is extremely pleased to work with IDeaS on revenue management education,” said Bruce Rosard, vice president, sales and marketing, PhoCusWright. “The MasterClass is designed to help hospitality professionals understand the positive impact of revenue management and ultimately embed the practice into their organizations’ DNA.”
In addition to the Revenue Management MasterClass, IDeaS will enhance its hospitality consulting services with PhoCusWright’s The Digital Travel Revolution MasterClass. This workshop traces the travel industry’s transformation since the rise of online booking and distribution platforms and instructs participants on prevalent and emerging business models for keeping up with change.
“I believe hotel team members with more knowledge and awareness of revenue management will create positive business results,” said Chris Anderson, Associate Professor at Cornell University’s School of Hotel Administration. “The revenue management discipline is rapidly evolving, and it is important for the non-revenue management hotel team members to understand the vocabulary regarding revenue management in order to further drive profitability.”
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
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