Этот курс входит в специализацию ''Специализация Hotel Management: Distribution, Revenue and Demand Management'
The Fundamentals of Revenue Management: The Cornerstone of Revenue Strategy
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Об этом курсе
4.6
Оценки: 378
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.
With modern-day rising acquisition costs and distribution complexities, revenue management techniques have increasingly been adopted by both small and large hotel companies, making a comprehensive understanding of segmentation, forecasting and pricing an essential requirement for today’s hospitality professionals. The purpose of this course is to provide a core understanding of the fundamentals of revenue management, which ties into the larger picture of revenue strategy. The course is structured to provide an insightful look into Revenue Management.
Created in conjunction with Duetto, this course is hosted by a group of revenue management leaders in both theory and with hands-on experience at properties around the world. Upon completion of the course students should be empowered with industry best practices, which can be applied across the vast diversification the hotel industry to empower those to optimize profits. Duetto delivers powerful revenue strategy solutions to the world’s leading hotels and casinos, combining unparalleled expertise with world-class cloud-based technology.
Acknowledgement: Bela Nagy, Agnes Roquefort , Jonathon Liu, Frederic Toitot, Pierrick La Masne, Markus Keller - ACCOR Simone Truscello - ACE HOTELS. Richard Valtr - MEWS SYSTEM. Jean-Luc Chrétien - FAST BOOKING. Jeannette Ho - FAIRMONT RAFFLES HOTELS & RESORTS. Chinmai Sharma - TAJ HOTEL & RESORTS. Cindy Estis Green - KALIBRI LABS. Jason Thielbar - RED LION. Christopher Cooper - ROCCO FORTE. Rom Hendler - SANDS. Rafi Rejerano - AB Hotels. Riko Van Santen - KEMPINKI HOTELS & RESORTS. Vinod Sukhija - BANYAN TREE HOTELS & RESORTS. Olivier Flement - WALT DISNEY COMPANY. Cidalia Pinto Coehlo - LOUVRE HOTELS. Trevor Stuart-Hill - REVENUE MATTERS. Vincent Cusma, Marco Benvenuti, Eric Stoessel, Gayle Ehrean, Nevin Reed - DUETTO. Claire Bertrand, Vincent Chatain, Jessica Moses, Benjamin Six (ESSEC Business School), Emilie Dupré (IMAGE-IN), Gregory Halidy (TRIPLAY)
Приобретаемые навыки
PricingRevenue ManagementForecastingSegmentation Analysis
Программа курса: что вы изучите
1
Раздел
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.
11 видео (всего 52 мин.), 4 материалов для самостоятельного изучения, 3 тестов
11 видео
Welcome back!3мин
Fundamentals of Revenue Management: The Cornerstone of Revenue Strategy3мин
EDC and the importance of Revenue Management2мин
History of Revenue Management4мин
Shift in consumer behavior6мин
Overview of Revenue Management3мин
Introduction to Segmentation5мин
Introduction to Forecasting and Budgeting5мин
Introduction to Pricing6мин
How Revenue Management can increase Bottom line6мин
Effective Yielding5мин
4 материала для самостоятельного изучения
Complementary Readings10мин
Complementary Reading10мин
Complementary Readings10мин
Complementary Readings10мин
3 практического упражнения
Practice Lesson 120мин
Practice Lesson 220мин
Practice Lesson 310мин
2
Раздел
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.
9 видео (всего 57 мин.), 2 материалов для самостоятельного изучения, 2 тестов
9 видео
What is Segmentation?6мин
Evolution in Segmentation17мин
Evolution in Segmentation26мин
Types of Segmentation6мин
Strategic Segmentation11мин
Considerations of Determining Segmentation8мин
Re-segmentation Process5мин
Industry Best Practices2мин
2 материала для самостоятельного изучения
Complementary Reading10мин
Complementary Readings10мин
2 практического упражнения
Practice Lesson 116мин
Practice lesson 220мин
3
Раздел
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.
11 видео (всего 55 мин.), 3 материалов для самостоятельного изучения, 3 тестов
11 видео
Basic terminology8мин
What is Forecasting?3мин
Why Forecast?4мин
Start with Reservation and Market Data5мин
Competitor Pricing & Online Review Data5мин
Air Traffic and Weather Data4мин
Revenue System vs Excel4мин
Evaluating Forecast accuracy5мин
Budgeting3мин
Best Practices3мин
3 материала для самостоятельного изучения
Complementary Readings and Videos10мин
Complementary Readings and Videos10мин
Complementary Readings and Videos10мин
3 практического упражнения
Practice lesson 118мин
Practice lesson 216мин
Practice lesson 316мин
4
Раздел
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.
7 видео (всего 54 мин.), 3 материалов для самостоятельного изучения, 3 тестов
7 видео
Hotel Pricing Strategies9мин
How to increase Rates6мин
Seven most common Pricing mistakes5мин
BAR vs Open Pricing11мин
Revenue Strategy: key to optimizing profit9мин
Conclusion2мин
3 материала для самостоятельного изучения
Complementary Readings and Videos10мин
Complementary Readings and Videos10мин
If you want to go further...10мин
3 практического упражнения
Practice lesson 122мин
Practice lesson 216мин
Final Exam30мин
4.6
83%
25%
Лучшие рецензии
автор: YZ•Aug 1st 2017
very useful and rich with it content , the complimentary reading is awesome and indeed needed\n\nthe final exam is a bit hard , i do recommend it for people who are seeking knowledge in RM
автор: EL•Nov 26th 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.
Преподавателя
Peter O'Connor
Professor of information systems, Director of the MBA in Hospitality ManagementInformation systems
Augustin Cacot
Director of Customer Success, EMEADUETTO
Nathaniel Green
Senior Global Solutions EngineerDUETTO
О 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.
О специализации ''Hotel Management: Distribution, Revenue and Demand Management'
Market hospitality services, manage demand, and optimize revenue.
This Specialization covers the basics of hotel demand management, distribution, and revenue management. You’ll learn how e-commerce intermediaries such as online travel agencies are impacting the already-complex hospitality sector, and you’ll explore tools and techniques that will help you effectively market hospitality services and maximize business revenue in this new global industry landscape. In the final Capstone Project, you’ll evaluate the importance of hotel branding in business success through a hands-on, real-world case study. During the sessions, you will hear from senior hotel industry executives commenting on distribution, revenue and demand management issues. We will also interview two leading Online Travel Agents on how to maximise online business for your property, and have partnered with Duetto and SnapShot, two leading hospitality industry companies, to gain access to cutting edge knowledge, thus insuring that the competencies that you gain will make you operational immediately as well as bang up to date on industry trends.
Часто задаваемые вопросы
When will I have access to the lectures and assignments?
Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). Peer review assignments can only be submitted and reviewed once your session has begun. If you choose to explore the course without purchasing, you may not be able to access certain assignments.
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.
What is the refund policy?
Is financial aid available?
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