The course introduces students to the fields of Revenue Management and Online Sales. It will be divided in two parts; we will focus on the Fundamentals of Revenue Management on the first three classes and will continue with Online Distribution Strategy.
Students will learn the basic concepts and technique of Revenue Management, structure its methodology with examples and practical exercises. They will also acquire the necessary tools to make effective decisions, calculate the key performance indicators, price planning, competitor analysis, pick up, historical sales data, forecasting, segmentation, demand calendar, inventory management, specific promotional actions per season, assemble packages and learn to prepare and analyze reports.
During the second half of the course the students will learn all the elements to implement a successful sales strategy in the online world. They will be able to evaluate and optimize the online distribution strategy of any hotel to maximize occupancy and income. Assess the value proposition and conveying its content, evaluate the selection of the relevant Online Travel Agencies (OTAs), know the basic elements to create a successful hotel website, identify online tools to increase direct and indirect sales, understand the path to purchase (Travel Shopping Funnel), understand the importance of customer loyalty, chose the right technology to improve sales experience, have a closer look to the online reputation management and its implications, generate brand presence online and we will have a short introduction to digital marketing (SEO), (SEM), metasearch, social media
Home tasks will include completion of reading assignments and case studies. Three hours of instructor-led class time per week including discussions.