Revenue Management 360

Offered byeCornell

Revenue Management 360
at
eCornell
Overview

Maximizing profits through strategic pricing, demand forecasting, and inventory control: Revenue Management 360 for optimal business performance and growth

Duration	9 months
Start from	7 days to go
Total fee	₹6.90 Lakh
Mode of learning	Online
Official Website	Go to Website
Credential	Certificate

Revenue Management 360
at
eCornell
Highlights

Earn a certificate after completion of course from Cornell Hotel School
Learn from expert faculty
Real world projects
Learn on your schedule without stepping out of your job

Revenue Management 360
at
eCornell
Course details

Skills you will learn

Marketing Brand Strategy Forecasting

Who should do this course?

General managers

Revenue and finance managers

Hospitality professionals responsible for financial success

What are the course deliverables?

Describe hotel revenue management and its benefits and understand how to recommend room rates

Implement strategies to increase revenue during different seasons

Apply length-of-stay controls to your hotel

Develop an overbooking approach and manage the issues associated with it

Make the correct group-management decisions

Develop your own functional revenue management plan and apply it to additional areas of your hotel

Evaluate the effects of price, length of stay, demand, and availability controls on revenue

Know how to distinguish between transient revenue management and negotiated selling

Manage requests for group and negotiated business

Effectively use search engine marketing and understand the role of online channels and the opportunities they provide

Define, align, and refine a brand promise for your organization

More about this course

Revenue management is cross-functional and cross-disciplinary

The courses provide the skills you need to maximize revenue in today’s complex global market

This certificate consists of 18 two-week courses – 14 core and 4 elective courses – and provides you with in-depth training in the principles of revenue-cycle analysis and management and practice applying these principles

Create and manage customer demand, establish a marketing strategy built around well-designed control systems, and fine-tune yield management in your market

Revenue Management 360
at
eCornell
Curriculum

Introduction to Hotel Revenue Management

This course teaches you how to accurately forecast guest arrivals at your hotel, examine pricing models in accordance with revenue management principles, and to manage overbooking

Forecasting and Availability Controls in Hotel Revenue Management

This course explores the role of the forecast in a revenue management strategy and the positive impact that forecasting can also have on staff scheduling and purchasing

Pricing Strategy and Distribution Channels in Hotel Revenue Management

This course teaches you how to set prices, develop rate fences (differentiate prices by customer type), and use multiple distribution channels to manage price more effectively

Overbooking Practices in Hotel Revenue Management

This course teaches you how to strategically overbook and how to evaluate groups in order to determine which rates to charge

Non-Traditional Applications of Hotel Revenue Management

This course, reviews the basics of revenue management and outlines the application of revenue management principles to other businesses, both inside the hotel and beyond, such as spas, restaurants, and golf courses

Price and Inventory Controls

This course provides a rigorous foundation in traditional revenue management control of room and rate availability

You will begin by exploring inventory control, focusing on controlling rate but not length of stay

Price Sensitivity and Pricing Decisions

This course describes the impact of changing prices in a competitive environment and describes several methods for measuring demand sensitivity to price changes, or price elasticity

Segmentation and Price Optimization

In this course, you will examine techniques for analyzing and setting prices

The first part of the course focuses on variable pricing, exploring how to create different prices for the same service or product and how to use segmentation, communication, and upgrading to capitalize on those prices

The second part of the course examines dynamic pricing, or how prices evolve over time

Displacement and Negotiated Pricing

The course demonstrates how an effective revenue management strategy deals with arrival uncertainty using forecasting and overbooking

It explores the issue of displacement, looking specifically at how a property, when considering a group booking, should estimate the future arrivals that could be rejected due to lack of room availability

Search Engines and Online Selling: Stimulating Incremental Demand

In this course, you'll explore how to develop strategies designed to improve your standing in internet search results, known as search engine optimization (SEO), and increase your visibility to target customers

Understanding Financial Statements

The in-depth review of sample case studies in this course will provide you with the tools you need to examine your own property's reports

Using Ratio Analysis to Evaluate Financial Performance

The ratio analysis tools you learn will help your organization to design and implement initiatives for increased productivity and profitability

Marketing the Hospitality Brand Through Digital Media

In this course, you will examine what integrated marketing communications is and how you can use it to communicate your brand's strategy and promise

You will also identify why an IMC plan should constantly evolve in the face of a shifting media landscape and dynamic business realities and market conditions

Implementing Brand Strategy Through Digital Media

In this course, you will examine how to identify the brand's target market and develop a brand voice that will resonate with them

You will also determine how to develop a creative strategy and marketing messages that will effectively shape the target audience's brand beliefs

Electives (4 Courses)

Mastering the Time Value of Money

Making Capital Investment Decisions

Menu Design and Engineering

Optimizing Restaurant Space and Pricing

Hospitality Symposium

The Hospitality Symposium offers you a unique opportunity to engage in real-time conversations with peers and experts from the Cornell community and beyond

Using the context of your own experiences, you will take part in reflections and small-group discussions to build on the skills and knowledge you have gained from your courses

Revenue Management 360
at
eCornell
Faculty details

Alex Susskind

Alex Susskind is a Professor of Food and Beverage Management and is currently serving as the Associate Dean for Academic Affairs. Professor Susskind earned his Ph.D. in Communication from Michigan State University with a specialization in organizational communication and his MBA with a concentration in personnel and human relations.

Sheryl E. Kimes

Sheryl E. Kimes is an emeritus Professor of Operations Management at Cornell University’s Nolan School of Hotel Administration. From 2005 to 2006, she served as interim dean of the school, and from 2001 to 2005, she served as the school’s Richard and Monene P. Bradley Director of Graduate Studies. Dr. Kimes specializes in revenue management, restaurant revenue management, and service operations management.