Advanced Hospitality Revenue Management: Pricing and Demand Strategies
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Increasing sales and profits entails a comprehensive revenue-management strategy that includes creating and managing customer demand and establishing a marketing strategy built around rigorous control systems. Doing this better than the other players in the market will produce a clear, competitive yield advantage.
This certificate program consists of five two-week courses. The series builds on the fundamental principles of pricing and revenue management to give you advanced tools and techniques to make strategic hotel pricing decisions, set inventory controls, and encourage demand manipulation to drive profits and overall organizational performance. You can complete all five courses and earn your certificate in as little as three months.
This program was developed with revenue-management expert Christopher Anderson, PhD, associate professor in the School of Hotel Administration at Cornell University. Professor Anderson’s research focuses on revenue management and service pricing, and he advises world-renowned hospitality, service, and consumer goods firms on optimizing and executing their revenue-management strategies.
- Price and Inventory Controls
- Price Sensitivity and Pricing Decisions
- Segmentation and Price Optimization
- Displacement and Negotiated Pricing
- Search Engines and Online Selling: Stimulating Incremental Demand
KEY COURSE TAKEAWAYS
- Estimate the marginal value of capacity
- Understand the effects of price, length of stay, demand, and availability controls on revenue
- Employ a strategic, proactive approach in pricing decisions
- Anticipate the reaction of your competitors regarding price changes
- Determine the best structure to post the right prices online
- Convey an understanding between transient revenue management and negotiated selling
- Know the role of online channels and the opportunities they provide in demand creation and management
- Effectively use and improve search engine marketing
WHAT YOU'LL EARN
- Advanced Hospitality Revenue Management: Pricing and Demand Strategies Certificate from Cornell Hotel School
- 40 Professional Development Hours (PDHs)
Who should attend
- General managers
- Revenue managers
- Marketing managers
- Hospitality professionals responsible their organization's financial performance