Overbooking Practices in Hotel Revenue Management
Course ID: SHA534 Overbook strategically to account for no-shows and minimize costs, uncertainty, and customer impact. Examine visiting groups' costs and revenues to identify profitable targets. |
Description
Businesses that accept reservations must cope with the problem of no-shows: customers who make a reservation but fail to honor it. Hotels can protect themselves against revenue loss from no-shows by overbooking. This course teaches you how to strategically overbook and how to evaluate groups in order to determine which rates to charge.
Examine the components of a successful overbooking strategy: no-show forecasting, no-show rates, arrival uncertainty, pricing policies, and cancellation forecasts. Learn the risks of overbooking and review strategies to minimize costs and mitigate customer impact.
To fully realize your property's revenue potential, you must be able to effectively manage group reservations. You’ll learn how to create a group forecast and explore yieldable and non-yieldable business and incremental group costs and revenue opportunities. Employ models to calculate displacement costs and contribution margins to determine which customer groups can be the most profitable.
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.Requirements
Use of Microsoft Excel is required for this course.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:- Develop an overbooking strategy
- Manage issues associated with overbooking
- Evaluate groups to determine appropriate rates
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...
Students who purchased this course also purchased:
- Student Testimonial,
"An excellent insight into managing overbooking...From a front office perspective, it shows you how difficult it is for sales and the revenue manager when overbooking."
Overbooking Practices in Hotel Revenue Management - Student Testimonial,
"I found great value in this course. It is one of the areas where I did not have full understanding but now I feel much more comfortable with the concept and implementation of overbooking practices."
Overbooking Practices in Hotel Revenue Management
