Master Certificate in Revenue Management
Revenue management is cross-disciplinary and cross functional. The courses leading to a Master Certificate in Revenue Management provide the skills you need to maximize revenue in today’s complex global market. Take a strategic approach that enables your team to push the levers that drive profits and performance.
This certificate provides you with in-depth training in the principles of revenue-cycle analysis and management and practice applying these principles. Create and manage customer demand, establish a marketing strategy built around well-designed control systems, and fine-tune yield management in your market.
This master certificate consists of 18 two-week courses: 14 core and 4 elective courses. The courses in the core of the program cover financial topics, general and advanced revenue management, and marketing for new media, including social, mobile, and search. Choose from 14 elective courses to refine your focus in Restaurant Revenue Management, Hospitality Marketing, or Financial Management.
You can finish all of the courses in this program and earn your master certificate in as little as nine months, spending about three to five hours per week.
The courses in this certificate will equip you to…
- Describe hotel revenue management and its benefits and understand how to recommend room rates
- Implement strategies to increase revenue during different seasons
- Apply length-of-stay controls to your hotel
- Develop an overbooking approach and manage the issues associated with it
- Make the correct group-management decisions
- Develop your own functional revenue management plan and apply it to additional areas of your hotel
- Evaluate the effects of price, length of stay, demand, and availability controls on revenue
- Know how to distinguish between transient revenue management and negotiated selling
- Manage requests for group and negotiated business
- Effectively use search engine marketing and understand the role of online channels and the opportunities they provide
- Define, align, and refine a brand promise for your organization
This certificate has 18 online courses requiring ~108 hours to complete.
This certificate is earned upon completion of 14 required core courses and four elective courses. Outcomes will vary depending on the elective courses selected.
- Introduction to Hotel Revenue Management
- Forecasting and Availability Controls in Hotel Revenue Management
- Pricing Strategy and Distribution Channels in Hotel Revenue Management
- Overbooking Practices in Hotel Revenue Management
- Non-Traditional Applications of Hotel Revenue Management
- Price and Inventory Controls
- Price Sensitivity and Pricing Decisions
- Segmentation and Price Optimization
- Displacement and Negotiated Pricing
- Search Engines and Online Selling: Stimulating Incremental Demand
- Understanding Financial Statements
- Using Ratio Analysis to Evaluate Financial Performance
- Marketing the Hospitality Brand Through Digital Media
- Implementing Brand Strategy Through Digital Media
- Introduction to Restaurant Revenue Management
- Managing Revenue with Service Cycle Changes
- Managing Revenue with Table Mix
- Managing Revenue with Pricing
- Mastering the Time Value of Money
- Making Capital Investment Decisions
- Risk and Return: How to Identify, Measure, and Incorporate Into Capital Budgeting Decisions
- Raising Capital: The Process, the Players, and Strategic Considerations
- Services Marketing Planning and Management
- Evaluating Business and Customer Factors Affecting Marketing Decisions for Services
- Building a Resilient Services Marketing Information System
- Developing a Service Strategy and Managing the Brand
- Managing Service Demand through Pricing and Distribution Strategies
- Developing an Integrated Marketing Communications Strategy for Services
Who Should Take This Certificate Series?
This certificate series is designed for general managers, revenue and finance managers, and other hospitality professionals responsible for improving the financial performance of their organization. The program is most beneficial to professionals with at least 3 years of experience in their industry. Participants will receive foundational and advanced instruction in revenue management and learn the industry-critical skills and advanced techniques used by top performers the world over.
Participants who successfully complete all 18 courses in this certificate series will receive a Master Certificate in 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.