Demand Management: Maximizing Hotel Revenue Through Distribution Channels
Hospitality demand management is defined as the art and science of dynamically managing demand for hospitality services to optimize profitability and customer relationships. It relies on, and goes beyond, traditional applications of pricing, revenue management, marketing and channel distribution to manage near and long term demand from key customer segments. The course presents the current trends in hospitality service demand from the leisure, business and group segments plus a set of principles for managing and balancing demand from each of the segments. This is done in the context of an evolving distribution environment where distribution and marketing is increasingly moving online and to mobile devices. The course uses class presentations, discussions, cases, and a dynamic competitive pricing and marketing simulation where students apply their experience and demand management concepts in a dynamic learning environment.
Participants will learn the latest trends in on- and off-line marketing, including search, social media and mobile distribution, understand and use key principles for managing hospitality demand including pricing, revenue management, and channel management, and experience and learn from cases, discussions with other students and a dynamic market simulation how demand management principles can be applied in a competitive market environment to produce profits and market share.
- Theory of hospitality demand
- Recent technological and economic developments in pricing and distribution channels, including search, social media and mobile distribution
- Key characteristics of business, leisure and group demand
- Principles for managing hospitality demand in the short and long term
- Development, execution and tracking of a demand management strategy