Hospitality marketing is fast shifting from traditional media to digital forms (e.g., social media, video, website and search, plus mobile applications). New-media technologies have changed the ways consumers experience and value a product or service. So how can you draw on these technologies to enhance your operations and provide distinct customer value? And how can you be sure your efforts in new media are producing tangible returns?

In this course, you'll examine innovations and trends in new media, and ways to leverage them to your brand's advantage. You will consider how new media can improve your marketing efforts by managing customer expectations and enhancing the consumer experience, and you'll discuss how to measure the success of those efforts. You'll also determine what organizational considerations will allow you to better leverage the evolving impact of new media and plan the future structure and role of your organization in this important area.

Explore this content through a mix of input from hospitality industry experts, hands-on practical activities, and the presentation of sound principles by Cornell faculty. Experience the content through the use of a fictional hotel case study with valuable feedback provided by your online instructor and peers.

Building on concepts learned in Restaurant Revenue Management, this course further explores the correlation between meal duration, occupancy levels and revenue. Learn how to create an optimal table mix and increase revenue by using formulas to balance occupation, reservations and meal duration.

Position your business for greater profitability by using formulaic approaches and time-tested methods to quantify demand and manipulate table mix.

This course teaches foodservice managers how to increase revenue through strategic pricing. Explore concepts in revenue management and implement a strategy built on variable pricing, price discrimination, price elasticity, price customization, demand-based pricing, rate fences, and menu engineering.

Learn how to calculate costs and estimate the payback period for potential investments associated with implementation. You also examine related staffing, management and training issues as they relate to pricing and revenue management.

A smart pricing strategy is the best way to increase revenue. This course teaches you how to set prices, develop rate fences (differentiate prices by customer type), and use multiple distribution channels to manage price more effectively.

You'll also 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.

Discover the ins and outs of channel management, an essential tool for controlling differentiated pricing, maintaining rate fences, and increasing revenue. Explore various approaches to managing distribution channels including direct sales, agencies, the Internet, and opaque pricing channels. Sheryl E. Kimes, professor at Cornell University’s School of Hotel Administration, will provide you with the knowledge you need to help run a successful organization.
 

This course includes

  • Five self-check quizzes
  • Two discussions
  • Two Ask the Expert interactives
  • An action plan to apply what you learn
  • One video transcript file

 

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

Any business that has relatively fixed capacity, perishable inventory, and time-variable demand can increase revenue using revenue management—not just hotels. This course, authored by Cornell University’s Professor Sheryl E. Kimes, reviews the basics of revenue management and outlines the application of revenue management principles to other businesses, both inside the hotel and beyond, such as spas, restaurants, and golf courses.

Through your work on the course project, you will reinforce what you have learned about the refinement and extension of revenue management practices and will develop notes and recommendations for implementing and extending revenue management at the organization where you work.
 

This course includes:

  • One self-check quiz
  • Two discussions
  • One tool to download and use on the job
  • Three Ask the Expert interactives
  • One scored project in multiple parts
  • One video transcript file

Your services marketing efforts depend on information. Without relevant and accurate information, every decision you make will suffer from bad input. 

A well-run marketing information system captures, organizes, analyzes, and interprets data from a wide variety of sources to create a robust portrait of the ideal customers and their specific wants or needs. With the ideal buyer in mind, you can better target them with high-impact messaging that communicates a compelling brand promise and a clear reason to buy. 

In this course, you will learn when to use internal or external market data and when to conduct your own primary research. You'll also discover how segmentation, targeting, and positioning (the STP process) translates your analysis and research findings into a positioning strategy that appeals to the right target market at the right time and at the right price. 

You have marketing goals and you’re feeling ready to execute. Maybe you want to increase market share, retain more customers or generally broaden consumer awareness. 

But how do you turn your goals into action? And how will you measure success? In this course, you will explore how to turn marketing goals into action by developing a marketing strategy and creating an enduring brand promise.

You want your marketing efforts to generate demand. While increased demand naturally drives business and success, it does come with specific sets of challenges. 

Mitigating these challenges requires a keen understanding of demand management. In essence, demand management requires us to ask “How should we set our prices?” “How will we guarantee that our distribution partners ensure timely delivery?”

In this course, you’ll answer those questions and explore how pricing and distribution strategies can directly affect demand for your service.

It’s hard to overstate: A marketing strategy lives or dies in communication with the customer. And there’s a methodology to it—it is the culmination of all of the marketing research and analysis you've done. 

What you say, how you say it, how often you say it, the media channels you use to distribute your message, how you respond to complaints—all of this affects customers’ experiences with your brand. 

In this course, you'll take a deep dive into integrated marketing communications, or IMC. You'll explore a process-based approach to designing creative communications using a variety of methods and media. Finally, you'll examine ways to assess the performance of an IMC campaign.

Your menu does much more than inform guests about what you offer. It helps to create and communicate your food and beverage operation’s identity, and influences your guests’ choices.

This course will enable you to evaluate menus and identify changes that will optimize the value and profitability of your food and beverage operation.

Your operation’s brand is like a contract with the customer, and the expectation is that value will be delivered in relative accordance with price and quality of service. But keeping food costs down is no easy task. In fact, it’s one of the most detail-oriented, scientific processes that go into running a restaurant and there are many challenges with keeping food costs controlled.

In this course, you’ll learn to optimize your operation’s profits by effectively managing your selection, procurement, receiving, storage, and inventory management processes.

Running a successful hotel today is a highly collaborative process involving many roles.

This course is structured around the four key stages in the guest experience -- pre-arrival, arrival, occupancy, and departure -- and will explain hotel operations, the systems that hotels rely on, and the managers and staff who run them. During the guests’ experience, managers and staff will learn how to engage with guests to win and maintain their loyalty.

Professor Reneta McCarthy brings first-hand knowledge of hotel operations to this course, providing insights and guidelines that will give participants a good understanding of the inner workings of today’s hotels.

In this course you will define and differentiate between leadership and management, develop a strategy for overcoming new leadership challenges, and evaluate motivational techniques and determine when to use them. You will also identify the skills needed to develop relationships crucial to your career development as a leader, based on the research and expertise of Professor Kate Walsh, Ph.D. of Cornell University’s School of Hotel Administration.

Using tools provided in this course, you will explore what motivates others, assess leadership styles, and examine communication with your leadership team. With the completion of an action plan at the end of the course, you will be ready to apply what you learn to your own organization.

In this course, you will create a strategy to turn a work group into a high-functioning team by evaluating challenges and applying techniques to generate positive team outcomes. Based on the research and expertise of Professor Kate Walsh, PhD, of Cornell University’s School of Hotel Administration, you will learn how to enable a team to take ownership of its own success and shift leadership roles as the team assumes greater responsibility. 

Using tools provided in this course, you will explore best practices in leading teams, assess case studies, and examine functional conflict. With the completion of an action plan at the end of the course, you will be ready to apply what you learn to your own organization.

Every property’s finance function keeps detailed records of the daily transactions involved in the running the organization. Periodically, they create reports that allow management, stakeholders and regulating authorities to have insight into the financial health of the organization. As a manager, you need to understand both the metrics that are reported in income statement, balance sheets, and cash flow statements, and how they relate to each other. You also need to understand how comparing numbers across your company, the industry, and from year to year, can help you assess the overall financial performance of the firm.

The in-depth review of sample case studies in this course will provide you with the tools you need to examine your own property’s reports. As you make budgeting and investment decisions, your knowledge of how vital financial markers indicate relative health in the organization will help drive initiatives to meet your company’s financial goals.

A company’s financial performance, and its ability to grow and thrive over time, can be assessed through ratio analysis, the basic evaluation tool for asset management, solvency and profitability. Whether you are managing the financial performance of a department, unit, or the organization as a whole, working with these ratios can help identify opportunities and allow you to make adjustments to improve performance.

As you become familiar with asset management ratios such as days sales outstanding and days to turnover, you will be able to apply these techniques in comparing your company’s performance against others in the industry and against its own financial history. The ratio analysis tools you learn will help your organization to design and implement initiatives for increased productivity and profitability.

Services marketing is often viewed in terms of outcomes, but services marketing is also an ongoing analytic process. In this course, you will learn how to properly analyze frameworks, tools, channels, data sets, customer behavioral data, decision-making factors, and strategies that support broader marketing decisions.

Authored by Robert Kwortnik from Cornell University’s School of Hotel Administration, this course will teach you how to review the way marketing works in your organization and how to create and apply a services marketing process.

To make services marketing work, you need to have a clear picture of the business environment and understand how your target customers behave. Knowing your market and assessing consumer demand can help inform and guide your marketing strategies. In this course, you will explore the role that micro and macro forces  play when conducting a situation analysis. You'll also take a deep dive into what drives consumer behavior.

In this course you'll learn how to assess a restaurant's revenue capability and how to maximize its profitability. With the Restaurant Revenue Management (RRM) system, you can create conditions and manipulate factors such as meal duration and price to bring in more revenue. Learn the key concepts of Restaurant Revenue Management, examine methods of measuring revenue-management success, compare those measures to traditional indicators of success, and learn the five-step approach to establishing a revenue-management system.

You can determine a restaurant's revenue capability by calculating its "revenue per available seat hour", and discover the value of identifying and modifying business practices to accommodate hot, warm, and cold revenue periods.

Learn the five steps of the revenue management process and examine the conditions necessary for proper implementation. You'll also review case studies of restaurants around the world that have used the RRM system and have seen two to five percent revenue increases.

If you're wondering what might be inhibiting your ability to generate revenue, this course shows you how to find solutions in your standard service cycle data. Learn what data to collect and how to run a proper analysis.

Through an examination of two case studies, the course illustrates how service cycle durations are measured and how "revenue per available seat hour" (RevPASH) is calculated. Combined, these measurements enable you to generate revenue and profit more efficiently.

This course introduces you to several additional tools used to identify and rectify the underlying causes of operational shortcomings. Together, service blueprints, bottleneck analyses, and fishbone diagrams can help you isolate and solve those pressing issues. You'll learn hands-on how to use these tools and how to leverage RevPASH to the greatest effect.

Revenue management is key to any business that has relatively fixed capacity, perishable inventory, and time-variable demand. This course introduces you to the basics of revenue management in the hotel industry: how to apply pricing and length-of-stay tools and how to measure your revenue management performance. It is designed to inspire you to shift your thinking about revenue management from a focus on occupancy and average room rate to a focus on revenue per available room (RevPAR).

This course teaches you how to accurately forecast guest arrivals at your hotel, examine pricing models in accordance with revenue management principles, and to manage overbooking. All of the techniques and practices discussed in this course are applicable to a variety of service management roles.

By completing this course you will have compiled detailed notes and recommendations for implementing revenue management at the organization where you work.

 

Successful revenue management strategies hinge on the ability to forecast demand and to control room availability and length of stay. This course explores the role of the forecast in a revenue management strategy and the positive impact that forecasting can also have on staff scheduling and purchasing.

Authored by Professor Sheryl E. Kimes from Cornell University’s School of Hotel Administration, during this course you’ll get a step-by-step approach to creating an accurate forecast as you 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.
 

This course includes:

  • Five self-check quizzes
  • Two discussions
  • Two Ask the Expert interactives
  • One activity
  • One downloadable tool to use on the job
  • One action plan to apply what you learn
  • One video transcript file

Successful marketing and revenue generation in hospitality requires the management of an array of new media including, social, mobile, and search. While these new media enable marketers to reach customers in ways that were previously not possible, successful use must be anchored by core marketing and demand management principles. This course provides you with a grounding in brand management and focuses on the importance of identifying and establishing your "brand promise": the experience your guests take away from engaging with your brand as the basis of new media management.

You'll experience the challenges involved in maintaining your brand's promise across a growing array of new media channels. You'll be exposed to sound marketing concepts, advice from industry experts, and actual experience with new media in exercises and simulations. You'll then take what you have learned and apply it to your existing marketing efforts based on industry best practices and time-tested frameworks for profitable marketing.

 

You'll learn directly from some of the heaviest hitters in new media for hospitality - CEOs, search, social and mobile media consultants, property-level managers, and more through interactive projects and compelling video exercises. See first-hand how the successful implementation of new media can help you deliver on your firm's "brand promise", enabling you to deal with market uncertainties and guide your organization toward sustained profitability.

Amid the swirl of activity in food and beverage service, financial management is a function that loses priority sometimes, despite its crucial function.

Understanding and managing your food and beverage operation’s income statement (profit and loss statement) can lead to better decision making and can position you to succeed. Learn how to get a hold on your organization’s finances and make informed decisions based on profit and performance.

Loyal repeat customers are key to the success of any food and beverage operation. They represent recurring revenue and are a great source for feedback and gauging customer sentiment. They can also be your greatest evangelists, recommending you to friends and colleagues, even giving favorable online reviews.

Through careful design, meticulous attention to service processes, and a way to gauge customer sentiment, you can play to your team’s strengths and identify opportunities for improving the guest experience to grow your business.

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