Introduction to Hotel Revenue Management

Implement a revenue management strategy that maximizes profits by shifting the focus to managing revenue per available room. Apply effective pricing models and duration-management techniques.

Description

Implementing a revenue management strategy can be one of the most important revenue-generating initiatives available to a hotel, significantly increasing room revenue and profits. This course provides an overview of revenue management applications to the hotel industry designed to inspire a strategic shift to managing revenue per available room (RevPAR).

Revenue management is a systematic process designed to increase revenue by selling the right room to the right person at the right time for the right price. In addition to evaluating different pricing models and applying duration-management strategies, this course provides a foundation for more advanced revenue management courses in forecasting, group management and overbooking, pricing strategy, and application of revenue management techniques to other hospitality-related industries including spas and athletic facilities.

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:

• Describe hotel revenue management and its benefits to the organization
• Discuss the strategic levers of hotel revenue management and how they can be manipulated to increase revenue
• Describe hotel revenue management in terms of its component parts and critical considerations
• Recommend non-traditional ways in which revenue management techniques can be applied to increase revenue in the hospitality industry

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