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
Offered By
Hotel Management: Distribution, Revenue and Demand Management SpecializationESSEC Business SchoolAbout this Course
25,799 recent views
Learner Career Outcomes
27%
started a new career after completing these courses
41%
got a tangible career benefit from this course
14%
got a pay increase or promotion
Shareable Certificate
Earn a Certificate upon completion
100% online
Start instantly and learn at your own schedule.
Course 2 of 4 in the
Flexible deadlines
Reset deadlines in accordance to your schedule.
Approx. 11 hours to complete
English
Subtitles: French, Portuguese (Brazilian), Russian, English, Spanish
Skills you will gain
PricingRevenue ManagementForecastingSegmentation Analysis
Learner Career Outcomes
27%
started a new career after completing these courses
41%
got a tangible career benefit from this course
14%
got a pay increase or promotion
Shareable Certificate
Earn a Certificate upon completion
100% online
Start instantly and learn at your own schedule.
Course 2 of 4 in the
Flexible deadlines
Reset deadlines in accordance to your schedule.
Approx. 11 hours to complete
English
Subtitles: French, Portuguese (Brazilian), 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
11 videos
Fundamentals of Revenue Management: The Cornerstone of Revenue Strategy3m
EDC and the importance of Revenue Management2m
History of Revenue Management4m
Shift in consumer behavior6m
Overview of Revenue Management3m
Introduction to Segmentation5m
Introduction to Forecasting and Budgeting5m
Introduction to Pricing6m
How Revenue Management can increase Bottom line6m
Effective Yielding5m
4 readings
Complementary Readings10m
Complementary Reading10m
Complementary Readings10m
Complementary Readings10m
3 practice exercises
Practice Lesson 130m
Practice Lesson 230m
Practice Lesson 330m
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
9 videos
What is Segmentation?6m
Evolution in Segmentation17m
Evolution in Segmentation26m
Types of Segmentation6m
Strategic Segmentation11m
Considerations of Determining Segmentation8m
Re-segmentation Process5m
Industry Best Practices2m
2 readings
Complementary Reading10m
Complementary Readings10m
2 practice exercises
Practice Lesson 130m
Practice lesson 230m
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
11 videos
Basic terminology8m
What is Forecasting?3m
Why Forecast?4m
Start with Reservation and Market Data5m
Competitor Pricing & Online Review Data5m
Air Traffic and Weather Data4m
Revenue System vs Excel4m
Evaluating Forecast accuracy5m
Budgeting3m
Best Practices3m
3 readings
Complementary Readings and Videos10m
Complementary Readings and Videos10m
Complementary Readings and Videos10m
3 practice exercises
Practice lesson 130m
Practice lesson 230m
Practice lesson 330m
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
7 videos
Hotel Pricing Strategies9m
How to increase Rates6m
Seven most common Pricing mistakes5m
BAR vs Open Pricing11m
Revenue Strategy: key to optimizing profit9m
Conclusion2m
3 readings
Complementary Readings and Videos10m
Complementary Readings and Videos10m
If you want to go further...10m
3 practice exercises
Practice lesson 130m
Practice lesson 230m
Final Exam30m
Reviews
TOP REVIEWS FROM THE FUNDAMENTALS OF REVENUE MANAGEMENT: THE CORNERSTONE OF REVENUE STRATEGY
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 PGNov 14, 2019
This is a good course for someone (like myself) to take if they do not have a revenue management background. I wish I could've taken this when I first got here in January!
by PBApr 13, 2020
I would recommend that people take this series of courses, I definitely learned quite a bit from it, even though I have worked in the tourism industry for 20 plus years.
About the Hotel Management: Distribution, Revenue and Demand Management Specialization
Market hospitality services, manage demand, and optimize revenue.
Frequently Asked Questions
When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
- The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
- The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I subscribe to this Specialization?
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
Is financial aid available?
Yes, Coursera provides financial aid to learners who cannot afford the fee. Apply for it by clicking on the Financial Aid link beneath the "Enroll" button on the left. You'll be prompted to complete an application and will be notified if you are approved. You'll need to complete this step for each course in the Specialization, including the Capstone Project. Learn more.
More questions? Visit the Learner Help Center.
