Certificate in Hotel Revenue Management
Hospitality managers are charged with making strategic and proactive decisions to increase occupancy rates and total revenue for their properties. Applying a systematic process to such decision-making can increase their success. This five-course certificate series in hotel revenue management, developed by renowned revenue management expert Dr. Sheryl Kimes of Cornell’s School of Hotel Administration, provides a holistic view of the application of revenue management concepts and practices to the hospitality industry.
The courses in this series focus on several high-impact drivers for maximizing revenue: 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 the role of strategy in effective revenue management and the practical application of tools and techniques in the hospitality setting.
The courses in this certificate will equip you to...
- Apply the strategic levers of hotel revenue management to increase revenue
- Explain the role of forecasting in hotel revenue management
- Create a forecast and measure its accuracy
- Establish or recommend room rates that maximize profitability
- Establish or recommend approaches to making price more variable
- Set appropriate rate fences to create appropriate customer segments
- Analyze the implications to revenue management of using various distribution channels
- Manage potential customer issues associated with overbooking
- Create strategies to make group-management decisions that maximize revenue
- Refine the practice of hotel revenue management so it can be applied to additional areas of the hotel
- Learn methods for extending the practice of revenue management to other industries
- Develop a functional revenue management plan, from gathering baseline data to monitoring post-implementation results
This certificate has 5 online courses requiring ~30 hours to complete.
Please note Introduction to Hotel Revenue Management must be taken first. Subsequent courses may be taken in any sequence.
- Forecasting and Availability Controls in Hotel Revenue Management
- Introduction to Hotel Revenue Management
- Non-Traditional Applications of Hotel Revenue Management
- Overbooking Practices in Hotel Revenue Management
- Pricing Strategy and Distribution Channels in Hotel Revenue Management
Who Should Take This Certificate Series?
This certificate series is designed for hospitality managers, general managers, revenue managers, and other hospitality professionals responsible for the financial performance of their organization.
Participants who successfully complete all 5 courses in this certificate series will receive a Certificate in Hotel Revenue Management from Cornell University’s School of Hotel Administration.
Participants will also receive .6 Professional Continuing Education Units (CEUs) for each course that is successfully completed.