Forecasting and Availability Controls in Hotel Revenue Management
Course ID: SHA532Use forecasts to predict demand and learn how demand influences other organizational functions. Calculate and account for error and apply length-of-stay controls.
Description
All successful revenue management strategies are based on the ability to forecast demand accurately and control room availability and length of stay.
This course explores the role of the forecast in a comprehensive revenue management strategy, including the selection of the best type of forecast and the impact of forecasting on other functions such as labor scheduling and purchasing. It presents a step-by-step approach to the mechanics of creating an accurate forecast. Participants learn how to build booking curves; account for “pick-up”; segment demand by market, group, and channel; and calculate error and account for its impact. The course also explores the impact of availability controls, including length-of-stay management, on revenue management and how they can be leveraged.
Participants use Microsoft Excel to practice forecasting and availability control 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.Certificate Information
This course can be applied toward the following certificate:Benefits to the Learner
Participants who complete this course will be able to:
- Explain the role of forecasting in hotel revenue management
- Create a forecast and measure its accuracy
- Apply length-of-stay controls to their hotel
- Manage availability and make rate recommendations based on demand patterns
Authoring Faculty
Sheryl E. Kimes, Ph.D., ProfessorSponsoring School
Cornell University's School of Hotel AdministrationTotal Learning Time
Approximately five to six hours over a period of two weeks.Enrollment
Price: $599.00To register, click 'Add to Cart' at right, or contact an Enrollment Counselor at info@ecornell.com or 1-866-eCornell (+1-607-330-3200 from outside the United States).
Certificate programs are eligible for eCornell Payment Plans. Discounts are available for military personnel, veterans, and Cornell University Alumni. eCornell programs are not eligible for financial aid or federal Pell Grants. Contact an enrollment counselor for more information.
February 17, 2010
March 17, 2010
Click 'Add to Cart' to see available dates beyond March 17, 2010.
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- Pricing Strategy and Distribution Channels in Hotel Revenue Management
- Overbooking Practices in Hotel Revenue Management
Technical Requirements
With all eCornell courses, access is easy. Participants only need a computer and an Internet connection. To view specific technology requirements, visit our Technology Requirements page.
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