Introduction to Hotel Revenue Management
An introduction to revenue management as a systematic process designed to increase revenue by leveraging tools designed to manage length-of-stay and apply effective pricing strategies.
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.
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
- Sheryl Kimes, Professor , School of Hotel Administration, Cornell SC Johnson College of Business
Estimated Hours to Complete Course: 6.0
About the School of Hotel Administration at the Cornell SC Johnson College of Business
The School of Hotel Administration at the Cornell SC Johnson College of Business is shaping the global knowledge base for hospitality management through leadership in education, research, and industry advancement. Accredited by the Association to Advance Collegiate Schools of Business (AACSB), the school provides management instruction in the full range of hospitality disciplines, educating the next generation of leaders in the world's largest industry. Founded in 1922 as the nation's first collegiate course of study in hospitality management, the Cornell School of Hotel Administration is recognized as the world leader in its field.