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Course Description

Traditional hotel pricing hinges on ensuring rooms are available for late-arriving, higher-yielding guests while building base demand with other consumer segments through the use of historic demand patterns. Given today’s online and connected traveler, revenue management needs to rely less on historic demand patterns, focusing instead on pricing by capitalizing on digital marketing opportunities to ensure hotels drive demand while avoiding rate dilution through excessive discounting actions. Using a strategic pricing simulation, you'll develop an understanding of the interplay between pricing and digital marketing and refocus RM on profit versus revenue.

PROGRAM SCHEDULE

Session 1:

  • The State of Revenue Management Today
  • Wednesday, April 10, 2024: 10:30am - 1:30pm (ET)

Session 2:

  • Competitive Pricing
  • Friday, April 12, 2024: 10:30am - 1:30pm (ET)

Session 3:

  • Digital Marketing With Google, Meta, and OTAs
  • Wednesday, April 17, 2024: 10:30am - 1:30pm (ET)

Session 4:

  • Profit Optimization Through Integrated Marketing and Pricing
  • Wednesday, April 24, 2024: 10:30am - 1:30pm (ET)

Faculty Author

Chris Anderson

Benefits to the Learner

  • Discuss the fundamentals of competitive pricing
  • Examine the role of forward-looking demand metrics
  • Explore the dynamics of revenue versus profit optimization
  • Assess the moderating role of digital marketing in low-demand environments

Target Audience

  • General managers overseeing full-service hotels
  • Senior hospitality professionals such as managing directors, assistant general managers, executive assistant managers, and operations directors
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Cornell Nolan School of Hotel Administration
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