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
Who should enroll in this course?
- 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