Manage hospitality revenue

Description

Oversee a hospitality revenue by understanding, monitoring, predicting and reacting to consumer behaviour, in order to maximise revenue or profits, maintain budgeted gross profit and minimise expenditures.

Alternative labels

maximise revenue from booking
revenue management
manage hospitality revenues
maintain budgeted gross profit
yield management
manage revenue from hospitality

Skill type

skill/competence

Skill reusability level

cross-sector

Relationships with occupations

Essential skill

Manage hospitality revenue is an essential skill of the following occupations:

Hospitality revenue manager: Hospitality revenue managers maximise revenue generated from facilities such as hotels,  holiday resorts and camping grounds by analysing trends and competition. They assist establishment managers in strategic decisions. Hospitality revenue managers analyse and optimise the financial potential of facilities and manage the corresponding staff.
Head chef: Head chefs manage the kitchen to oversee the preparation, cooking and service of food.
Rooms division manager: Rooms division managers are in charge of managing and coordinating a team of employees at front desk, reservations, housekeeping and maintenance departments.

Bed and breakfast operator: Bed and breakfast operators manage the daily operations of a bed and breakfast establishment. They ensure the guests’ needs are met.
Accommodation manager: Accommodation managers are in charge of managing the operations and overseeing the strategy for a hospitality establishment. They manage human resources, finances, marketing and operations through activities such as supervising the staff, keeping financial records and organising activities.

Optional skill

Manage hospitality revenue is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.

 


 

References

  1. Manage hospitality revenue – ESCO

 

Last updated on September 20, 2022