Forecasting and Availability Controls in Hotel Revenue Management
Course ID: SHA532 Use forecasts to predict demand and learn how demand influences other organizational functions. Calculate and account for error and apply length-of-stay controls. |
Description
Successful revenue management strategies hinge on the ability to forecast demand and to control room availability and length of stay. This course explores the role of the forecast in a revenue management strategy and the positive impact that forecasting can also have on staff scheduling and purchasing.
This course presents a step-by-step approach to creating an accurate forecast. You’ll learn how to build booking curves; account for "pick-up"; segment demand by market, group, and channel; and calculate error and account for its impact.
The course also explores the impact of availability controls—including length-of-stay management—on revenue management and how they can be leveraged.
Who Should Enroll in This Course?
This course is designed for hospitality managers, general managers, revenue managers, and other hospitality professionals responsible for the financial performance of their organization.Enrollment
To register, contact an Enrollment Counselor at info@ecornell.com or 1-866-326-7635 (+1-607-330-3200 from outside the United States).Certificate programs are eligible for eCornell Payment Plans. Discounts are available for military personnel, veterans, and Cornell University Alumni. eCornell programs are not eligible for financial aid or federal Pell Grants. Contact an enrollment counselor for more information.
March 21, 2012
April 18, 2012
Click 'Enroll Now' to see available dates beyond April 18, 2012.
Certificate Information
This course can be applied toward the following certificates:- Master Certificate in Hospitality Management
- Hotel Revenue Management
- Master Certificate in Hospitality Management
Additional Information
Benefits to the Learner
Participants who complete this course will be able to:- Explain the role of forecasting in hotel revenue management
- Create a forecast and measure its accuracy
- Apply length-of-stay controls to their hotel
- Manage availability and make rate recommendations based on demand patterns
Authoring Faculty
Sheryl E. Kimes, Ph.D., ProfessorSponsoring School
Cornell University's School of Hotel AdministrationTotal Learning Time
Approximately 5 to 6 hours over a period of 2 weeksYou May Be Interested In...
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- Student Testimonial,
"This was a great course to learn the background work of figuring out the availability of rooms in a hotel."
Forecasting and Availability Controls in Hotel Revenue Management - Student Testimonial,
"The interactive "Fill Your Hotel" game was very instructive because it was so open-ended. It gave me valuable insight into the application of theory in actual hotel industry scenarios."
Forecasting and Availability Controls in Hotel Revenue Management
