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Course Description

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.

You are required to have completed the following course or have equivalent experience before taking this course:

  • Introduction to Hotel Revenue Management

Faculty Author

Sheryl Kimes

Benefits to the Learner

  • How to explain the role of forecasting in hotel revenue management
  • Ways to create a forecast and measure its accuracy
  • Establish or recommend room rates that maximize profitability
  • Apply length-of-stay controls to your hotel

Prerequisites

Participants use Microsoft Excel to practice forecasting and availability control techniques.

Target Audience

  • 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

Applies Towards the Following Certificates

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Cornell Nolan School of Hotel Administration
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