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“Advanced” is the key word in Hospitality Revenue Management.

This isn’t your mother’s Revenue Management program, that’s for sure.

What does eCornell’s new certificate program Advanced Revenue Management: Pricing & Demand Strategies have that other programs don’t?

  1. For starters, this certificate program was developed with one of the world’s leading authorities on Revenue Management, Dr. Chris Anderson from Cornell University’s School of Hotel Administration. He advises leaders at world-renowned hotels, airlines, rental car and tour companies, in addition to consumer goods and financial services firms on how to update, fine-tune and execute their revenue management strategies.
  1. In 2012, knowing how to manage revenue is simply not enough. Since Revenue Management broke into the mainstream years ago, strategies for pricing, inventory and demand manipulation need to be kept current. Knowing the fundamentals will only get you so far in this game. This new program shares advanced pricing and demand strategies.
  1. With the proliferation of mobile technologies, consumer behaviors and purchasing patterns change rapidly from one day to the next. Hospitality 2.0 comes with a whole new set of rules for driving profits and steady growth. And that begins with high-level strategies that more accurately anticipate consumer behaviors.
  1. This is essentially the only advanced Revenue Management program of its kind. If you’re a general manager, revenue and finance manager, operations manager, or a sales or marketing professional with over 3 years of experience working on the financial performance of your organization, this program is most certainly for you.

To learn more about this unique new online certificate program, please go here.

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Cocktail Reception Invitation: eCornell’s HR in Hospitality Post-Conference Reception

Network with members of the eCornell team, as well as faculty from Cornell University’s School of Hotel Administration and School of Industrial & Labor Relations.

Are you attending this year’s HR in Hospitality Conference & Expo in San Francisco? If so, we invite you to join us for a cocktail reception at the Hilton San Francisco following the conference. Join your peers at the bar, meet eCornell’s Hospitality Group and make connections with faculty and staff from Cornell University’s world-famous School of Hotel Administration and the School of Industrial and Labor Relations.

We’ll provide an open bar for the first hour and appetizers throughout the evening. We hope you’re able to join us for this unique networking opportunity at this year’s HR in Hospitality Conference & Expo.

Tuesday, February 28
5:30pm – 8:00pm
Hilton San Francisco – Financial District
750 Kearny Street
San Francisco, CA
RSVP Online

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Cornell Hotel School Partners Up for eCornell Scholarship Program

IDeaS Revenue Solutions and the Cornell School of Hotel Administration have announced the launch of the IDeaS Cornell Revenue Management Scholarship Program. The scholarship program offers hospitality professionals access to an online certificate and professional development opportunity in Revenue Management through eCornell. There are 5 eCornell courses offered through the scholarship:

1) Introduction to Hotel Revenue Management
2) Forecasting and Availability Controls in Hotel Revenue Management
3) Pricing Strategy and Distribution Channels in Hotel Revenue Management
4) Overbooking Practices in Hotel Revenue Management
5) Non-Traditional Applications of Hotel Revenue Management

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Cornell Holds Hospitality Summit in Mumbai, India

The Cornell International Hospitality Summit in India India will feature the ninth edition of the Dean’s Leadership Series, a CEO Panel of four of the top hospitality executives in India.

Who should attend: Senior executives in hospitality, travel, tourism and real estate from India, the Middle East and Asia Pacific.

January 17, 2012
The Taj Mahal Palace
Mumbai, India

 

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What Does the Near Future Hold for Hotels?

Jan de Roos, the HVS Professor of Finance and Real Estate at the Cornell School of Hotel Administration and executive director of the Cornell Center for Real Estate and Finance, discusses the effects of the economic downturn and continued market turbulence on the hotel industry’s growth. He highlights areas of recovery and suggests opportunities for growth. Click here to view the video.

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Customer for Life: The Holy Grail of Hospitality

Hospitality people know how vital regular customers are to staying in business. Regulars may not always run up the biggest restaurant bill or book the most expensive rooms, but over time, those familiar faces and repeat business lead to steady earnings long-term. And those regular customers are the ones most likely to actively promote your business or refer you to their friends.

But it’s astounding how often businesses ignore the fundamentals. When a disproportionate amount of time or attention is paid to new customers or large groups, regulars may become dissatisfied with the decline in service or feel they are being taken for granted. Earning customers for life is not a one-time accomplishment. It’s an evolving relationship that requires nurturing and constant evaluation.

Cultivating long-term customer loyalty should drive your entire business strategy. From the company’s mission statement down to individual performance goals, “earn customers for life” should be adopted as a mantra for your entire organization.

Want to know exactly how important a regular customer is to your business? Run the numbers. Calculate the lifetime value of a customer’s loyalty by taking an average bill and multiply it by the number of times they visit in a year.You’ve got a lifetime value metric in place, and now you can gauge the net effect that losing this regular customer might have on your bottom line.

Ask for their feedback, solicit their opinions, and most importantly, respond to their criticisms. They can help you improve your business practices. And do everything you can to ensure that when asked, they’ll speak highly of your business and recommend you to others.

Stever Robbins is right on the money in his piece about lifetime value. The takeaway: Keep that special jar of hot peppers in stock, if only for the guy who eats at your restaurant 5 days a week.

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Kenyan Hospitality Manager Appreciates Hotel Revenue Management Courses

The courses have been very enlightening, and I am glad to have completed them successfully. The discussion forums and assessments were A1 and the course materials were just right.  The content is so fulfilling, and, yes, I want to roll out a plan for how to share this knowledge with my colleagues. The sky is the limit.

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eCornell Joins with Center for Hospitality Research to Offer Online Executive Education Opportunity

Ithaca, NY, March 10, 2009 – Thousands of employees at some of the world’s foremost hospitality-related companies will gain preferred access to the online courses offered by eCornell, through a groundbreaking arrangement with Cornell’s Center for Hospitality Research, eCornell, and the Office of Executive Education at the School of Hotel Administration. eCornell, which is a subsidiary of Cornell University, will become a full partner with the center in offering this opportunity.

“We continue to seek innovative and helpful methods to share research-based information with the industry, and to help industry practitioners improve their knowledge and skills,” said Jennifer Macera, associate director of the Center for Hospitality Research. “This is especially important in the current economic environment.”

“eCornell is excited to be working with the Center for Hospitality Research in this new type of partnership,” added Chris Proulx, Chief Executive Officer of eCornell. “eCornell has been working extensively with the hospitality industry since 2002 and we are pleased to provide this additional opportunity for industry employees.”