InterContinental Hotels Group has introduced its Revenue Academy for Revenue Managers as part of its drive towards developing a global revenue management culture. Believed to be the first in the hotel industry, the innovative and comprehensive certification programme recognised globally within InterContinental Hotels Group, teaches core and advanced revenue management, pricing and channel management techniques and encourages best practices to drive revenue generation performance.“This innovative Revenue Academy initiative furthers our efforts to lead the hotel industry in employee training,” said Mr A. Patrick Imbardelli, Managing Director, Asia Pacific, InterContinental Hotels Group, “This training programme sets new industry benchmarks for revenue management, education and employee training and helps foster a consistent revenue management culture within the company. Our people are our most important asset and programmes such as this Revenue Academy ensure they continue to be the best in the hospitality industry.”
Established and developed by InterContinental Hotels Group’s Global and Regional Revenue Management teams, the academy is open only to employees from the Group’s 154 hotels in Asia Pacific, and has been structured into three globally recognised certification tiers of learning - Degree, Honours and Masters.
The Revenue Academy was successfully piloted in Sydney, Australia, in March 2004. The Revenue Academy’s curriculum is focused on transferable, contingency and managing skills as they relate to revenue maximisation. Each level of certification runs from two to five intensive days of training and development, providing managers with new skills and knowledge in an ever-changing business and competitive environment.
The course is conducted by the Distribution Marketing Team, involving industry experts in revenue management, e-commerce and channel management from with the company. Over 100 employees are participating in the initial Degree level which commenced in April 2004 in Beijing, Hangzhou and New Delhi. Future Revenue Academies are to be held in Yokohama and Singapore in May, and Australia and New Zealand in June this year.
“One of the cornerstones for IHG is to drive expansion and revenue management culture within the Company. The Revenue Academy offers a rigorous and structured approach through which our people can be trained and developed, ultimately benefiting both the employees and hotels,” said Mr Klaus Kohlmayr, Director Distribution Marketing, Asia Pacific, Intercontinental Hotels Group.
The first of the three academic levels, the Degree course provides new recruits and other employees who have recently adopted responsibility for revenue management with knowledge to ensure immediate effectiveness in their roles. The Degree course covers revenue management concepts and yield techniques taking into account the latest industry developments in revenue maximization. Certification is achieved through an examination as well as the completion of a project with measurable revenue impact on the hotel within 90 days.
The more intensive Honours course is steered towards broadening revenue management and business strategies beyond the Hotel industry. Focusing on the development of critical analysis and strategic thinking, the Honours course equips employees with knowledge and problem solving tools that can be applied across changing situations to drive RevPAR (Revenue per available room) and competitive position.
Said a revenue manager who attended the pilot programme in Sydney, “After completing two days of intensive training, my increased skills and knowledge in revenue management has enabled me to confidently develop a strategic programme with a focus on enhancing my hotel’s competitive positioning and driving RevPAR growth. It is definitely an effective programme.”
Employees who have successfully completed both the Degree and Honours courses culminate their training with the Masters certification. The Masters course is only available upon invitation and it will bring together the best revenue managers around the world to share best practices as well as to be developed as part of a talents programme which includes personalized training by global senior executives.