(eCornell) Pricing Strategy and Distribution Channels in Hotel Revenue Management
About This Course
This course teaches you how to set prices, develop rate fences (differentiate prices by customer type), and use multiple distribution channels to manage price more effectively. You'll also learn about the impact of variable pricing and discounting on revenue management in the context of price elasticity, optimal price mix, perceived fairness, and congruence with positioning and sales strategies. Discover the ins and outs of channel management, an essential tool for controlling differentiated pricing, maintaining rate fences, and increasing revenue. Explore various approaches to managing distribution channels including direct sales, agencies, the Internet, and opaque pricing channels. Sheryl E. Kimes, professor at Cornell University's School of Hotel Administration, will provide you with the knowledge you need to help run a successful organization. The course is provided by eCornell in partnership with Genashtim.
What You'll Learn
Ways to set appropriate rate fences to create appropriate customer segments.
How to analyze the implications to revenue management of using various distribution channels.
How to assess and manage customer perceptions of fairness.