With a fixed capacity, a highly disposable product and high fixed costs, hotels are a natural candidate for the application of revenue management. Originally developed by the airlines in the 1970s, these analytics-based techniques help predict consumer behavior at the hotel’s market level so that the hotel can sell each room each night at the optimum price.
This course is part of the Hotel Management: Distribution, Revenue and Demand Management Specialization
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Hotel Management: Distribution, Revenue and Demand Management SpecializationESSEC Business SchoolAbout this Course
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Course 2 of 4 in the
Approx. 11 hours to complete
English
Subtitles: French, Portuguese (European), Russian, English, Spanish
Skills you will gain
PricingRevenue ManagementForecastingSegmentation Analysis
Flexible deadlines
Reset deadlines in accordance to your schedule.
Shareable Certificate
Earn a Certificate upon completion
100% online
Start instantly and learn at your own schedule.
Course 2 of 4 in the
Approx. 11 hours to complete
English
Subtitles: French, Portuguese (European), Russian, English, Spanish
Offered by
ESSEC Business School
For over a century, ESSEC has been developing a state-of-the-art educational program that gives the individual pride of place in its learning model, promoting the values of freedom, openness, innovation and responsibility. Preparing future managers to reconcile personal interests with collective responsibility, giving consideration to the common good in their decision-making, and weighing economic challenges against the social costs are some of the objectives ESSEC has set for itself. Its ultimate goal? To create a global world that has meaning for us all.
Syllabus - What you will learn from this course
3 hours to complete
Getting Started with Revenue Management
Welcome! In this first module, you will understand what revenue management is, why it’s important, simple steps to get started, how revenue management can increase profit through booking curve management and how effective yielding can improve a hotel’s profits. Moving forward, we’ll share best practices and better prepare you for today’s complex digital age.
3 hours to complete
11 videos (Total 52 min), 4 readings, 3 quizzes
2 hours to complete
Introduction to Segmentation
In this second module we will discuss segmentation 101, four things to consider while determining segmentation, as well as our best practices in regards to working with properties who need to go through a re-segmentation exercise, and presenting you with some key takeaways.
2 hours to complete
9 videos (Total 57 min), 2 readings, 2 quizzes
3 hours to complete
Introduction to Forecasting & Budgeting
In this third module, you will have an overview of forecasting and its basic terminology, explore forecasting goals, trends and tools, and understand how to link forecasting and budgeting together.
3 hours to complete
11 videos (Total 55 min), 3 readings, 3 quizzes
3 hours to complete
Introduction to Pricing
This last module should help tie together concepts from the previous three modules to give you a practical understanding of the fundamentals of revenue management. You will understand why pricing is important, the difference between common pricing strategies, and what are the 7 most common pricing mistakes. After that we will revisit the topic of Big Data, automated systems, and system connectivity as it and discuss best practices for pricing.
3 hours to complete
7 videos (Total 54 min), 3 readings, 3 quizzes
Reviews
TOP REVIEWS FROM THE FUNDAMENTALS OF REVENUE MANAGEMENT: THE CORNERSTONE OF REVENUE STRATEGY
by JNApr 26, 2021
Good course. To be honest, I didn't like the final exam. I think the exercises are too simplified and have a lot of assumptions, specially for the elasticity of demand of some customer segments
by YZJul 31, 2017
very useful and rich with it content , the complimentary reading is awesome and indeed needed the final exam is a bit hard , i do recommend it for people who are seeking knowledge in RM
by ESNov 25, 2017
I value specifically the repetition of concepts across videos and readings - it meant it really solidified the learning and knowledge so that I now can confidently apply it.
by TApr 23, 2021
Overall pretty clear and very informative. However a lot of the extra reading materials were links that no longer work. Otherwise, very concise introduction to this topic.
About the Hotel Management: Distribution, Revenue and Demand Management Specialization
Market hospitality services, manage demand, and optimize revenue.
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