Understand hotel room pricing and successful pricing strategies.
Pricing hotel rooms can be difficult but getting price right is fundamental for good hotel revenue management. On this course you will learn how to set prices, conduct value assessments and learn how to create a realistic hotel room pricing strategy.
You will consider how the basic concepts underlying hotel room pricing can be applied to pricing across other revenue streams. You will also learn about long-term pricing and tactical pricing.
What topics will you cover?
Learn about how to set prices, and use price fences to distinguish one rate from another.
Conduct a value assessment for your property and establish a realistic price positioning strategy for your hotel.
Learn about the key elements of a successful long-term pricing strategy, and when to leverage tactical pricing for a short-term, immediate revenue impact.
What will you achieve?
Use price to manage supply and demand.
Explain the different approaches that a hotel can use to price room inventory.
Use rate fences in rooms inventory pricing.
Analyze a hotel’s competitive position.
Differentiate pricing strategy and tactical pricing.
WHO IS THIS PROGRAM DESIGNED FOR?
This course is for mid managers, hotel managers, and front office managers, operating in 50+ rooms hotels who have had limited exposure to the practice of hotel revenue management.
This Online Certificate Program has an estimated duration of 12 hours. We recommend at least six hours per week of study time to allow you to cover all of the content in two weeks.
The format is 100% flexible.
Module 1- What is the role of pricing in revenue management?
Module 2- From your hotel’s competitive position to strategy development
Professor of Revenue Management
She teaches across a number of the world's top hospitality schools, with the goal of preparing students for a successful career in revenue management. She holds a PhD in Revenue Management from Cornell University. As a revenue management expert, she wrote over 75 industry and academic articles. Her research goals are to advance the revenue management discipline and provide insights for industry professionals to guide their revenue management practices. Breffni works a lot with industry executives, on advances in technology and pricing to opportunities to apply revenue management to non-rooms revenue streams such as food and beverage and function space.
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