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
Completing all of the coursework should take five to seven hours.
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