Managing your 'space' more profitably

Wednesday  10th April
09:00 hrs - 17:00 hrs

Woodland GrangeLeamington Spa, Warwickshire

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Event Summary

Revenue Management for Meetings and Events is a complicated business … or is it?

This is a very basic workshop aimed at giving you a taste of what Revenue Management would mean to your Meetings & Events business.

The foundations of RM are based on 1 simple practice, covering 3 basic areas; this being accurate and consistent data capture of:-
1) your total demand
2) your competitors
3) your local market

The key is being able to capture this data in a user-friendly way; to get the most out of any external reports available to you (i.e. Touchstone) and to regularly review this information and agree a relevant strategy based on demand and ‘booking trends’.

This workshop will give you an understanding of how you can simply implement a Revenue Management culture in to your Meetings & Events business by introducing some basic tools, easy to understand reports and some structured disciplines as part of your team’s every day focus.

It is a fun, interactive workshop that includes lots of exercises around a ‘virtual’ Meetings and Events office and concludes in a competitive Business Game. Your team will leave confident and focused on what they need to action back in your business. The ROI will be to achieve your financial targets through maximising rate opportunities and managing your available space more effectively.

Objectives:

  • Have a better understanding of Revenue Management principles and a greater knowledge of ‘Revenue per Available Space v Occupied Space’ and how Meetings and Events should play a crucial role in ‘managing your space more profitably’

  • Be able to implement the ‘tools’ you need to capture data in a simple, user-friendly format to help you easily understand your demand, booking trends, market segments, business mix and competitors

  • Be able to utilise the Touchstone Reports to help you better understand your market and business

  • Be able to analyse this data, identify patterns in your business and how to apply a clear and relevant strategy to future demand, rates and negotiation levels

  • Have confidence to set a clear and relevant Selling Strategy to ensure you increase your Revenue per Occupied Space 

  • Have fun putting everything into practice in a ‘virtual’ Business Game and feel inspired to take what you have learnt back to your venue. 

 

Who Should Attend

Ideally delegates will be Meetings and Events Managers, Supervisors or established Co-ordinators. It would also benefit General Managers with a ‘hands on’ approach to their Meetings and Events business. 


About Jo Woods

Jo Woods is an experienced consultant who has worked in all aspects of Front of House, and Meetings and Events Sales and Revenue Management for over 30 years.

“My passion lies in Revenue Management for Meetings & Events and during the last 15 years of my career I have been involved in national training and consultancy roles for various venues, individual hotels and both hotel chains and management companies throughout the UK.”

The way I approach my work is fun and interactive and completely focused on coaching and developing individuals and teams to manage their ‘space’ more profitably.”


See what other people have said about this event...

"It was good to confirm our current practices were up to date and relevant, and to take away some new 'tools' for use in the workplace" Rowan Kitching, The HAC

 "It’s good to gain an understanding on revenue management for future career opportunities, and helped me gain insight of how important reporting on figures and conversion isKerstyn Zeslawski, The MTC


 

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