Pricing Strategy and Distribution Channels in Hotel Revenue Management

Set prices that are congruent with your organization's positioning and sales strategies. Use the appropriate distribution channels to manage prices.

Description

Pricing is one of the most powerful tools a hotel can use to increase revenue. This course teaches you how to set the right prices, develop rate fences (differentiate prices by customer type), and use multiple distribution channels to manage price more effectively. You’ll learn about the impact of variable pricing and discounting on revenue management in the context of price elasticity, optimal price mix, perceived fairness, and congruence with positioning and sales strategies.

Channel management is an essential tool for controlling differentiated pricing, maintaining rate fences, and increasing revenue. You’ll explore various approaches to managing distribution channels including direct sales, agencies, the Internet, and opaque pricing channels.

Finally, discussions of best practices and industry case studies help you extend and contextualize your learning experience.

Participants use Microsoft Excel to practice pricing and distribution-channel-management techniques.

Who Should Take This Course?

This course is designed for hospitality managers, general managers, revenue managers, and other hospitality professionals responsible for the financial performance of their organization.

Benefits to the Learner

Participants who complete this course will be able to:

• Use variable pricing strategies to increase revenue
• Develop effective rate fences
• Manage prices using distribution channels

Authoring Faculty

Sheryl E. Kimes, Ph.D., Professor

Sponsoring School

Cornell University's School of Hotel Administration

Total Learning Time

Approximately five to six hours over a period of two weeks.

Certificate Information

This course can be applied toward the following certificate:

• Hotel Revenue Management