Who should attend
- Directors, general managers, and other hospitality professionals responsible for improving the financial performance of their organizations
- Front desk managers, night auditors, and sales and marketing analysts who want to take on more responsibility for improving profitability in their property
- Those who aspire to hospitality management positions and need a strong foundation of revenue concepts
About the course
Businesses that accept reservations must cope with the problem of no-shows: customers who make a reservation but fail to honor it. Hotels can protect themselves against revenue loss from no-shows by overbooking. This course teaches you how to strategically overbook and how to evaluate groups in order to determine which rates to charge.
You will examine the components of a successful overbooking strategy: no-show forecasting, no-show rates, arrival uncertainty, pricing policies, and cancellation forecasts. You will consider the risks of overbooking and review strategies to minimize costs and mitigate customer impact.
This course, authored by Cornell University Professor Sheryl E. Kimes, will help you create a group forecast and explore yieldable and non-yieldable business and incremental group costs and revenue opportunities. Finally, you will employ models to calculate displacement costs and contribution margins to determine which customer groups will return the most profit.
This course includes:
- Four self-check quizzes
- Two discussions
- Two tools to download and use on the job
- Three Ask the Expert interactives
- One activity
- Two action plans to apply what you learn
- One video transcript file
The courses Introduction to Hotel Revenue Management and Pricing Strategy and Distribution Channels in Hotel Revenue Management are required to be completed prior to starting this course.
- How to develop an overbooking approach that addresses no-shows
- Ways to manage potential customer issues associated with overbooking
- Strategies to make group-management decisions that maximize revenue
Education Qualifications PhD, Operations Management, University of Texas at Austin, 1987 MBA, New Mexico State University, 1983 MA, Public Administration, University of Virginia, 1977 AB, Political Science and Mathematics, University of Missouri, 1975 Academic Experience Visiting Professor, Na...
Videos and materials
Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.
We are happy to help you find a suitable online alternative.