Loading...

Course Description

A smart pricing strategy is the best way to increase revenue. This course teaches you how to set prices, develop rate fences (differentiate prices by customer type), and use multiple distribution channels to manage price more effectively.

You'll also learn about the impact of variable pricing and discounting on revenue management in the context of price elasticity, optimal price mix, perceived fairness, and congruence with positioning and sales strategies.

Discover the ins and outs of channel management, an essential tool for controlling differentiated pricing, maintaining rate fences, and increasing revenue. Explore various approaches to managing distribution channels including direct sales, agencies, the Internet, and opaque pricing channels. Sheryl E. Kimes, professor at Cornell University’s School of Hotel Administration, will provide you with the knowledge you need to help run a successful organization.

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

  • Introduction to Hotel Revenue Management
  • Forecasting and Availability Controls in Hotel Revenue Management

Faculty Author

Sheryl E. Kimes is a professor of operations management at the School of Hotel Administration. From 2005–2006, she served as interim dean of the School and from 2001-2005, she served as the school’s director of graduate studies. Kimes teaches restaurant revenue management, yield management and food and beverage management. She has been named the school’s graduate teacher of the year three times. Her research interests include revenue management and forecasting in the restaurant, hotel and golf industries. She has published over 50 articles in leading journals such as Interfaces, Journal of Operations Management, Journal of Service Research, Decision Sciences, and the Cornell Hospitality Quarterly. She has served as a consultant to many hospitality enterprises around the world, including Chevy’s FreshMex Restaurants, Walt Disney World Resorts, Ruby’s Diners, Starwood Asia-Pacific and Troon Golf. Kimes earned her doctorate in Operations Management in 1987 from the University of Texas at Austin.

Benefits to the Learner

  • How to establish or recommend approaches to making price more variable
  • Ways to set appropriate rate fences to create appropriate customer segments
  • How to analyze the implications to revenue management of using various distribution channels
  • How to assess and manage customer perceptions of fairness

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
Loading...
Enroll Now - Select a section to enroll in
Type
2 week
Dates
May 01, 2024 to May 14, 2024
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $0.00
Section Notes

IMPORTANT COURSE INFORMATION

  • This course includes a year of free access to Symposium! These events feature a week of live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
May 29, 2024 to Jun 11, 2024
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $0.00
Section Notes

IMPORTANT COURSE INFORMATION

  • This course includes a year of free access to Symposium! These events feature a week of live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
Jun 26, 2024 to Jul 09, 2024
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $0.00
Section Notes

IMPORTANT COURSE INFORMATION

  • This course includes a year of free access to Symposium! These events feature a week of live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
Jul 24, 2024 to Aug 06, 2024
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $0.00
Section Notes

IMPORTANT COURSE INFORMATION

  • This course includes a year of free access to Symposium! These events feature a week of live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
Aug 21, 2024 to Sep 03, 2024
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $0.00
Section Notes

IMPORTANT COURSE INFORMATION

  • This course includes a year of free access to Symposium! These events feature a week of live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
Sep 18, 2024 to Oct 01, 2024
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $0.00
Section Notes

IMPORTANT COURSE INFORMATION

  • This course includes a year of free access to Symposium! These events feature a week of live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
Oct 16, 2024 to Oct 29, 2024
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $0.00
Section Notes

IMPORTANT COURSE INFORMATION

  • This course includes a year of free access to Symposium! These events feature a week of live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
Nov 13, 2024 to Nov 26, 2024
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $0.00
Section Notes

IMPORTANT COURSE INFORMATION

  • This course includes a year of free access to Symposium! These events feature a week of live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
Dec 11, 2024 to Dec 24, 2024
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $0.00
Section Notes

IMPORTANT COURSE INFORMATION

  • This course includes a year of free access to Symposium! These events feature a week of live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Required fields are indicated by .