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eCornell Online ProfessionDevelopment Program
Certificate Program
Hotel Revenue Manageme
866-326-7635
+1-607-330-3200enterprise.ecornell.com
power
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Certi f ic ate Program
Hotel Revenue Manageme
Certificate Information
his certificate program is comprised of 5nline courses:
HA531: Introduction to Hotel RevenueManagement
HA532: Forecasting and Availabilityontrols in Hotel Revenue Management
HA533: Pricing Strategy and Distributionhannels in Hotel Revenue Management
HA534: Overbooking Practices in Hotelevenue Management
HA535: Non-Traditional Applications of Hotelevenue Management
Accreditat ion
articipants who successfully complete the five courses inhe series receive a Certificate in Hotel Revenue
Management from Cornell Universitys School of Hoteldministration.
wered by
Certificate OverviewThis certificate prepares you to make a lasting impact at your organization by employing advarevenue management techniques and strategies for your hotel operation.
Description
Do you make smart, strategic decisions about revenue? Do you have a working system in p
to manage occupancy, pricing, marketing? Hotel revenue management is an increasingly vi
function and involves a coordinated effort across the organization. Hotels can increase rev
by balancing demand, reservation scheduling and variable pricing. It is essentially selling t
right room to the right person at the right time for the right price.
This five-course certificate series was developed by revenue management expert/pione
Sheryl Kimes of Cornells School of Hotel Administration. Hotel Industry leaders the wor
over have learned the fundamentals of hotel revenue management from Dr. Kimes.
The courses in this series focus on several high-impact drivers for maximizing reven
forecasting and availability controls, pricing and distribution channel management,
overbooking and group management, and non-traditional revenue management
applications. Each course explores a topic in depth, with particular emphasis on t
role of strategy in effective revenue management.
This certificate prepares you to make a lasting impact at your organization by
employing advanced revenue management techniques and strategies for y
hotel operation.
Who Should Enroll in This Certificate?
This hotel management training certificate series is designed for hospi
managers, general managers, revenue managers, and other hospita
professionals responsible for improving the financial performance of organization.
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Introd uct ion to Hotel Revenue Managem
SHA
Author ing Facul tyheryl E. Kimes, Ph.D., Professor
Sponsoring Schoolornell University's School of Hoteldministration
Total Learning Timepproximately 5 to 6 hours over a period of 2
weeks for each course.
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Description
Implementing a revenue management strategy is perhaps the most vital of hotel operations. Tcourse provides an overview of revenue management for the hotel industry and encourages h
managers to adopt a strategy that is focused on revenue per available room (RevPAR), a con
pioneered by course instructor Dr. Sheryl Kimes.
Revenue management is a systematic process designed to increase revenue by considerin
demand, reservation scheduling and variable pricing (selling the right room to the right pers
the right time for the right price). In addition to evaluating different pricing models and apply
duration-management strategies, this course provides a foundation for more advanced rev
management courses in forecasting, group management and overbooking, pricing strateg
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 manaand other hospitality professionals responsible for the financial performance of their
organization.
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 managemen
techniques can be applied to increase revenue in the
hospitality industry
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Forecasting and Avai labi l i ty Control
Hotel Revenue Managem
SHA
Author ing Facul tyheryl E. Kimes, Ph.D., Professor
Sponsoring Schoolornell University's School of Hoteldministration
Total Learning Timepproximately 5 to 6 hours over a period of 2
weeks for each course.
wered by
Description
Successful revenue management strategies hinge on the ability to forecast demand and to coroom 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 schedu
and purchasing.
This course presents a step-by-step approach to creating an accurate forecast. Youll learn
to build booking curves; account for "pick-up"; segment demand by market, group, and chan
and calculate error and account for its impact.
The course also explores the impact of availability controlsincluding length-of-stay
managementon revenue management and how they can be leveraged.
Who Should Take This Course?
This course is designed for hospitality managers, general managers, revenue manage
and other hospitality professionals responsible for the financial performance of theirorganization.
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 forecastinavailability control techniques.
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Pricing Strategy and Distr ibut ion Channel
Hotel Revenue Managem
SHA
Author ing Facul tyheryl E. Kimes, Ph.D., Professor
Sponsoring Schoolornell University's School of Hoteldministration
Total Learning Timepproximately 5 to 6 hours over a period of 2
weeks for each course.
wered by
Description
A smart pricing strategy is the best way to increase revenue. This course teaches you how toprices, develop rate fences (differentiate prices by customer type), and how to use multiple
distribution channels to manage price more effectively.
You'll learn about the impact of variable pricing and discounting on revenue management in
context of price elasticity, optimal price mix, perceived fairness, and congruence with positio
and sales strategies.
Channel management is an essential tool for controlling differentiated pricing, maintaining
fences, and increasing revenue. Explore various approaches to managing distribution cha
including direct sales, agencies, the Internet, and opaque pricing channels.
Discuss best practices and observe industry case studies so you can contextualize and
an in-depth look into pricing strategy.
Who Should Take This Course?
This course is designed for hospitality managers, general managers, revenue mana
and other hospitality professionals responsible for the financial performance of th
organization.
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
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Overbooki ng Pract ice
Hotel Revenue Managem
SHA
Author ing Facul tyheryl E. Kimes, Ph.D., Professor
Sponsoring Schoolornell University's School of Hoteldministration
Total Learning Timepproximately 5 to 6 hours over a period of 2
weeks for each course.
wered by
Description
Businesses that accept reservations must cope with the problem of no-shows: customers whmake a reservation but fail to honor it. Hotels can protect themselves against revenue loss fro
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.
Examine the components of a successful overbooking strategy: no-show forecasting, no-sho
rates, arrival uncertainty, pricing policies, and cancellation forecasts. Learn the risks of
overbooking and review strategies to minimize costs and mitigate customer impact.
To fully realize your property's revenue potential, you must be able to effectively manage
reservations. Youll learn how to create a group forecast and explore yieldable and
non-yieldable business and incremental group costs and revenue opportunities. Employ
models to calculate displacement costs and contribution margins to determine which
customer groups can be the most profitable.
Who Should Take This Course?
This course is designed for hospitality managers, general managers, revenue
managers, and other hospitality professionals responsible for the financial perform
of their organization.
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 practiceoverbooking and group-management techniques.
Other Requirements Use of Microsoft Excel is required for this
course.
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Non-Tradit ional Application
Hotel Revenue Managem
SHA
Author ing Facul tyheryl E. Kimes, Ph.D., Professor
Sponsoring Schoolornell University's School of Hoteldministration
Total Learning Timepproximately 5 to 6 hours over a period of 2
weeks for each course.
wered by
Description
Revenue management concepts and practices can be applied to nearly any hospitality-relatedindustry: restaurants, meeting spaces, spas, even golf facilities. In practice, revenue manage
can be applied to any industry that has a relatively fixed capacity, time-variable demand and
perishable inventory.
You'll learn a step-by-step process to develop, implement and monitor a revenue manageme
strategy that maximizes revenue for your operation.
Who Should Take This Course?
This course is designed for hospitality managers, general managers, revenue managers,
other hospitality professionals responsible for the financial performance of their organiza
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, from gathering baseline data
to monitoring results post-implementation
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