SHA 533 - Pricing Strategy and Distribution Channels in Hotel Revenue Management

Institution:

Cornell University

Subject:

Description:

Pricing is one of the most powerful tools a hotel can use to increase revenue. This course teaches you how to set the right prices, develop rate fences (differentiate prices by customer type), and use multiple distribution channels to manage price more effectively. You'll 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. Channel management is an essential tool for controlling differentiated pricing, maintaining rate fences, and increasing revenue. You'll explore various approaches to managing distribution channels including direct sales, agencies, the Internet, and opaque pricing channels. Finally, discussions of best practices and industry case studies help you extend and contextualize your learning experience. Learners use Microsoft Excel to practice pricing and distributionchannel- management techniques. Who Should Take This Course This course is designed for hospitality managers, general managers, revenue managers, and other hospitality professionals responsible for the financial performance of their organization. Benefits to Learner Learners who complete this course will be able to: Use variable pricing strategies to increase revenue Develop effective rate fences Manage prices using distribution channels Certificate Information This course can be applied to the following certificate: Certificate in Hotel Revenue Management Sponsoring School Cornell University's School of Hotel Administration

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.cornell.edu

Phone Number:

(607) 255-2000

Regional Accreditation:

Middle States Association of Colleges and Schools

Calendar System:

Semester

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