Competitive Pricing and Revenue Management in A low Demand Environment

eCornell

How long?

  • 4 days
  • online

eCornell

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Who should attend

  • General managers overseeing full-service hotels
  • Senior hospitality professionals such as managing directors, assistant general managers, executive assistant managers, and operations directors

About the course

Traditional hotel pricing hinges on ensuring rooms are available for late-arriving, higher-yielding guests while building base demand with other consumer segments through the use of historic demand patterns. In today's reduced demand environment, however, revenue management needs to rely less on historic demand patterns, focusing instead on pricing by capitalizing on digital marketing opportunities to ensure hotels drive demand while avoiding rate dilution through excessive discounting actions. Using a strategic pricing simulation, you'll develop an understanding of the interplay between pricing and digital marketing in low-demand markets and refocus on profit versus revenue.

Program

Session 1:

The State of Revenue Management Today

Session 2:

Competitive Pricing

Session 3:

Digital Marketing With Google, Meta, and OTAs

Session 4:

Profit Optimization Through Integrated Marketing and Pricing

Key course takeaways

  • Discuss the fundamentals of competitive pricing
  • Examine the role of forward-looking demand metrics
  • Explore the dynamics of revenue versus profit optimization
  • Assess the moderating role of digital marketing in low-demand environments

Experts

Christopher Anderson

Chris K Anderson is a Professor at the Cornell School of Hotel Administration. Prior to his appointment in 2006, he was on faculty at the Ivey School of Business in London, Ontario Canada. His main research focus is on revenue management and service pricing. He actively works with industry, acros...

Competitive Pricing and Revenue Management in A low Demand Environment at eCornell

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