Hotel Revenue Optimization Essentials Series

Today more than ever it is essential for hoteliers across disciplines to be able to confidently navigate both the art and science of revenue optimization, and confirm their knowledge, experience, and capabilities in the field.

This course takes a deep dive into the fundamentals, cross-disciplinary partnerships, and emerging elements impacting revenue optimization. It covers the key concepts outlined in HSMAI’s Evolving Dynamics: From Revenue Management to Revenue Strategy, the study guide for the Certified Revenue Management Executive (CRME) certification.

The course is delivered in six 90-120 minute sessions delivered once a week for six consecutive weeks.

  • Session #1: Intro and Chapters 1, 2, 3 (2 hours) – HSMAI’s Evolving Dynamics: From Revenue Management to Revenue Strategy
  • Session #2: Chapters 4, 5, 6 (1.5 hours)
  • Session #3: Chapters 7, 8, 9 (1.5 hours)
  • Session #4: Chapters 10, 11, 12 (1.5 hours)
  • Session #5: Chapters 13, 14, 15 (1.5 hours)
  • Session #6: Chapter 16, Emerging Elements, and final review (1.5 hours)

Course participants will learn and be able to apply best practices in multiple areas including:

  • Departmental integration
  • Economics and RM
  • Understanding the market
  • Segmentation
  • Forecasting
  • Pricing
  • Inventory Control
  • Total Hotel Revenue Optimization
  • Performance Analysis
  • The role of data analytics in revenue optimization and marketing
  • Managing owner expectations
  • Fundamentals of distribution
  • Marketing in a digital world
  • Emerging elements impacting revenue optimization

While of interest to any hotelier or industry partner with revenue optimization-related responsibilities, it is primarily designed for hospitality professionals who are studying to take the (CRME) certification exam.

This course is also for you if you:

  • Aspire to become a revenue optimization professional and want to learn the principles of revenue optimization.
  • Work closely with, and are impacted by, revenue optimization in your organization (you might be a general manager, director of sales, director of marketing, asset manager, or distribution professional)

Course Length
6 Weeks

Live virtual course will start at 1 p.m. Eastern every Wednesday for six consecutive weeks (all sessions will be recorded).

Format
100% online, instructor-led

Each course will be limited to 25 participants, and must have a minimum of 10 participants registered in order to proceed.

The registration fee includes application processing, weekly workshops, and a digital copy of Evolving Dynamics: From Revenue Management to Revenue Strategy.

Registration Fee*:

  • $395 per person

Course Dates:

  • September 2 – October 7 (Wednesdays @ 1:00 pm ET): REGISTER
  • November 4 – December 9 (Wednesday @ 1:00 pm ET): REGISTER

*Those who complete this course are entitled to a $75 discount on the CRME certification fee which is $450 for HSMAI members and $625 for non-members. Click here to read more about and apply for the CRME certification.   Please contact Kathy Tindell at 703-506-2010 or ktindell@hsmai.org for more information.

This course will be presented by devoted HSMAI volunteer leader Timothy R. Wiersma, Principal, Revenue Generation, LLC, and Chair, HSMAI Revenue Optimization Advisory Board.

With more than two decades of experience in the hospitality industry, Tim Wiersma is recognized as a leader in revenue management. Specializing in property and portfolio revenue management, sales, marketing, distressed-asset turnaround, and asset assessment, he consistently delivers results for properties around the world.

Before founding Revenue Generation LLC, Tim was a vice president with Host Hotels and Resorts, a Fortune 500 company and the largest premiere real estate hospitality company in the world. He has also held a vice president position at TPG Hospitality, a private equity firm with over 60 full-service hotels representing all major markets and brands, and he was vice president Red Roof Group where he oversaw the Revenue Strategy of over 650 economy hotels. He has held other corporate-level positions with Starwood Hotels and Resorts and Canadian Hotel Income Properties and has been a key advisor for Marriott International in sales and revenue management.

Over the course of his career, Tim has worked with all major brands and independent properties and has developed top line business intelligence tools, dashboards, and business configurations to assist hotels in driving optimal results. He thrives on finding innovative ways to turn around underperforming assets while motivating sales and revenue teams.

Tim holds a BA in Business Administration and Finance. He is an active member of HSMAI (Hospitality Sales and Marketing Association International) and is currently serving on its board as chair of the Revenue Optimization advisory board.

In his spare time, Tim enjoys spending time with family, friends and flying a Cessna 172.

Earn 6 hours of continuing education credits for the Certified Revenue Management Executive (CRME) certification by attending this program.

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