Hotel Revenue Management: The Strategy and Tactics of Hotel Room Pricing

Hotel Revenue Management: The Strategy and Tactics of Hotel Room Pricing

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Formato

Programa

Idioma

Duración

Precio

€360

Institution

Descripción
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.

Información importante:

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toa@ie.edu