eCornell Online Professional Development ProgramsCertificate Program in Hotel Revenue Management powered by 866-326-7635 +1-607-330-3200 enterprise.ecornell.com and non-traditional revenue management applications. overbooking and group management. Hotel’s can increase revenue by balancing demand. Who Should Enroll in This Certificate? This hotel management training certificate series is designed for hospitality managers. Description Do you make smart. general managers. Kimes. pricing. Accreditation Participants who successfully complete the five courses in the series receive a Certificate in Hotel Revenue Management from Cornell University’s School of Hotel Administration. Each course explores a topic in depth. powered by . pricing and distribution channel management. The courses in this series focus on several high-impact drivers for maximizing revenue: forecasting and availability controls.Certificate Program in Hotel Revenue Management Certificate Information This certificate program is comprised of 5 online courses: SHA531: Introduction to Hotel Revenue Management SHA532: Forecasting and Availability Controls in Hotel Revenue Management SHA533: Pricing Strategy and Distribution Channels in Hotel Revenue Management SHA534: Overbooking Practices in Hotel Revenue Management SHA535: Non-Traditional Applications of Hotel Revenue Management Certificate Overview This certificate prepares you to make a lasting impact at your organization by employing advanced revenue management techniques and strategies for your hotel operation. with particular emphasis on the role of strategy in effective revenue management. This five-course certificate series was developed by revenue management expert/pioneer Dr. revenue managers. This certificate prepares you to make a lasting impact at your organization by employing advanced revenue management techniques and strategies for your hotel operation. reservation scheduling and variable pricing. Sheryl Kimes of Cornell’s School of Hotel Administration. and other hospitality professionals responsible for improving the financial performance of their organization. strategic decisions about revenue? Do you have a working system in place to manage occupancy. marketing? Hotel revenue management is an increasingly vital function and involves a coordinated effort across the organization. It is essentially selling the right room to the right person at the right time for the right price. Hotel Industry leaders the world over have learned the fundamentals of hotel revenue management from Dr. Revenue management is a systematic process designed to increase revenue by considering demand. This course provides an overview of revenue management for the hotel industry and encourages hotel managers to adopt a strategy that is focused on revenue per available room (RevPAR). general managers. group management and overbooking. this course provides a foundation for more advanced revenue management courses in forecasting.D. Benefits to the Learner Participants who complete this course will be able to: Describe hotel revenue management and identify potential benefits it can bring an 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 powered by .. Who Should Take This Course? This course is designed for hospitality managers. a concept pioneered by course instructor Dr. and application of revenue management techniques to other hospitality-related industries. Ph. including spas and athletic facilities. Sheryl Kimes. Kimes. reservation scheduling and variable pricing (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. pricing strategy. Professor Description Implementing a revenue management strategy is perhaps the most vital of hotel operations. Sponsoring School Cornell University's School of Hotel Administration Total Learning Time Approximately 5 to 6 hours over a period of 2 weeks for each course. revenue managers and other hospitality professionals responsible for the financial performance of their organization.Introduction to Hotel Revenue Management SHA531 Authoring Faculty Sheryl E. Professor Description Successful revenue management strategies hinge on the ability to forecast demand and to control room availability and length of stay. Sponsoring School Cornell University's School of Hotel Administration Total Learning Time Approximately 5 to 6 hours over a period of 2 weeks for each course. Kimes. segment demand by market. This course presents a step-by-step approach to creating an accurate forecast.D. 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. The course also explores the impact of availability controls—including length-of-stay management—on revenue management and how they can be leveraged.. group. revenue managers. 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 Prerequisites Participants use Microsoft Excel to practice forecasting and availability control techniques. and calculate error and account for its impact. and other hospitality professionals responsible for the financial performance of their organization. powered by .Forecasting and Availability Controls in Hotel Revenue Management SHA532 Authoring Faculty Sheryl E. general managers. You’ll learn how to build booking curves. and channel. Ph. account for "pick-up". Who Should Take This Course? This course is designed for hospitality managers. Channel management is an essential tool for controlling differentiated pricing. This course teaches you how to set prices. revenue managers. the Internet. and how to use multiple distribution channels to manage price more effectively. perceived fairness. and increasing revenue. Who Should Take This Course? This course is designed for hospitality managers..D. general managers. and other hospitality professionals responsible for the financial performance of their organization. maintaining rate fences. and congruence with positioning and sales strategies. develop rate fences (differentiate prices by customer type). You'll learn about the impact of variable pricing and discounting on revenue management in the context of price elasticity. agencies. and opaque pricing channels. Sponsoring School Cornell University's School of Hotel Administration Total Learning Time Approximately 5 to 6 hours over a period of 2 weeks for each course. optimal price mix. Ph.Pricing Strategy and Distribution Channels in Hotel Revenue Management SHA533 Authoring Faculty Sheryl E. Discuss best practices and observe industry case studies so you can contextualize and have an in-depth look into pricing strategy. Benefits to the Learner Participants who complete this course will be able to: Use variable pricing strategies to increase revenue Develop effective rate fences Manage prices using distribution channels powered by . Professor Description A smart pricing strategy is the best way to increase revenue. Explore various approaches to managing distribution channels including direct sales. Kimes. Benefits to the Learner Participants who complete this course will be able to: Develop an overbooking strategy Manage issues associated with overbooking Evaluate groups to determine appropriate rates Prerequisites Participants will use Microsoft Excel to practice overbooking and group-management techniques. You’ll learn how to create a group forecast and explore yieldable and non-yieldable business and incremental group costs and revenue opportunities. Kimes. no-show rates. powered by . you must be able to effectively manage group reservations. Learn the risks of overbooking and review strategies to minimize costs and mitigate customer impact..Overbooking Practices in Hotel Revenue Management SHA534 Authoring Faculty Sheryl E. Who Should Take This Course? This course is designed for hospitality managers.D. To fully realize your property's revenue potential. general managers. Employ models to calculate displacement costs and contribution margins to determine which customer groups can be the most profitable. arrival uncertainty. Professor Description Businesses that accept reservations must cope with the problem of no-shows: customers who make a reservation but fail to honor it. and cancellation forecasts. pricing policies. Sponsoring School Cornell University's School of Hotel Administration Total Learning Time Approximately 5 to 6 hours over a period of 2 weeks for each course. Examine the components of a successful overbooking strategy: no-show forecasting. and other hospitality professionals responsible for the financial performance of their organization. Other Requirements Use of Microsoft Excel is required for this course. Ph. This course teaches you how to strategically overbook and how to evaluate groups in order to determine which rates to charge. Hotels can protect themselves against revenue loss from no-shows by overbooking. revenue managers. Non-Traditional Applications of Hotel Revenue Management SHA535 Authoring Faculty Sheryl E.D. Who Should Take This Course? This course is designed for hospitality managers. Sponsoring School Cornell University's School of Hotel Administration Total Learning Time Approximately 5 to 6 hours over a period of 2 weeks for each course. Professor Description Revenue management concepts and practices can be applied to nearly any hospitality-related industry: restaurants. and other hospitality professionals responsible for the financial performance of their organization. revenue managers. general managers. implement and monitor a revenue management strategy that maximizes revenue for your operation. Kimes. time-variable demand and perishable inventory. meeting spaces. Benefits to the Learner Participants who complete this course will be able to: Apply revenue management strategy to secondary businesses within the hotel industry Extend the practice of revenue management to other industries Lead a revenue management effort. revenue management can be applied to any industry that has a relatively fixed capacity. from gathering baseline data to monitoring results post-implementation powered by .. even golf facilities. spas. You'll learn a step-by-step process to develop. In practice. Ph. 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