Hotel Revenue Management (HOM301c)
Vietnamese title: Quản trị doanh thu khách sạn
Credits: 3
Prerequisites: HMO101 or HMO102

Description:
This Specialization covers the basics of hotel demand management, distribution, and revenue management. You’ll learn how e-commerce intermediaries such as online travel agencies are impacting the already-complex hospitality sector, and you’ll explore tools and techniques that will help you effectively market hospitality services and maximize business revenue in this new global industry landscape. In the final Capstone Project, you’ll evaluate the importance of hotel branding in business success through a hands-on, real-world case study. During the sessions, you will hear from senior hotel industry executives commenting on distribution, revenue and demand management issues. We will also interview two leading Online Travel Agents on how to maximise online business for your property, and have partnered with Duetto and SnapShot, two leading hospitality industry companies, to gain access to cutting edge knowledge, thus insuring that the competencies that you gain will make you operational immediately as well as bang up to date on industry trends.
Note: Students who complete all MOOCs before the course deadline will receive 1 bonus point; otherwise, no bonus point will be awarded.

Learning outcomes:
Understand how to manage an increasingly complex network of traditional and web based channels of hotel sector.
Provide a core understanding of the fundamentals of revenue management, which ties into the larger picture of revenue strategy.
Understand the journey from long-term asset development through to short-term profit tactics and how commercial teams can align themselves throughout the organisation.
Understand how to apply the knowledge you have gained about distribution, revenue and demand management to a ‘real’ world case.

Student tasks:
Access the specialization on Coursera and complete all courses' requirements to earn a certificate of completion for the specialization, in order to be qualified for the Final Exam.

Tools:
Internet access

Materials:
description: https://www.coursera.org/specializations/hotel-management
note: Spec: Hotel Management: Distribution, Revenue and Demand Management Specialization
description: https://www.coursera.org/learn/hotel-management-project
publisher: Coursera
note: MOOC 4: Hôtel “De l'étoile” - a hotel in crisis?
description: https://www.coursera.org/learn/demandmanagement
publisher: Coursera
note: MOOC 3: Demand management: Breaking down today’s commercial silos
description: https://www.coursera.org/learn/fundamentals-of-revenue-management
publisher: Coursera
note: MOOC 2: The Fundamentals of Revenue Management: The Cornerstone of Revenue Strategy
description: https://www.coursera.org/learn/hotel-distribution
publisher: Coursera
note: MOOC 1: https://www.coursera.org/learn/hotel-distribution

Assessments:
category: Final Exam
type: Final exam
weight: 100.0
duration: 60 mins
question_type: LO1, LO2, LO3, LO4
no_question: Multiple choicesMarked by Computer
knowledge_and_skill: 50
grading_guide: All studied courses. Each module of course contributes 3-4 questions.
note: by Exam Board

Schedule:
session: Course 1: The fundamentals of hotel distribution

Module 1: Setting the scene
Lesson 1: MOOC introduction
Lesson 2: Historical evolution
Lesson 3: The hotel business value chain
Lesson 4: Franchise and Management agreements
Lesson 5: Growth and the value of branded hotel chains
Lesson 6: Hotels as economic units
Lesson 7: Introduction to revenue management
Lesson 8: Trends and challenges
Lesson 9: Wrap-up and conclusion
Module 2: A deep dive into hotel distribution
Lesson 1: Why hotel distribution?
Lesson 2: The origins of hotel distribution
Lesson 3: The web revolution
Lesson 4: Working with the OTAs
Lesson 5: OTA Business Model
Lesson 6: The brand.com site
Lesson 7: The forgotten majority: traditional channels
Lesson 8: The distribution cost puzzle
Lesson 9: The true cost of brand.com
Lesson 10: The price parity paradox
Lesson 11: Magnificent Meta-Search
Lesson 12: Disruption in the market place?

Course Review - Offline (optional)
learning_outcomes: IT
session: Module 3: Direct distribution: the key to hotel success
Lesson 1: Introduction
Lesson 2: Deciding what you want
Lesson 3: Registering your domain name
Lesson 4: Content
Lesson 5: What is good hotel content?
Lesson 6: Creating your web pages
Lesson 7: Selecting a good hosting solution
Lesson 8: Introduction to online marketing
Lesson 9: Organic search engine marketing
Lesson 10: Paid search engine marketing
Lesson 11: Email Marketing
Lesson 12: Display Advertising
Lesson 13: Affiliate marketing
Lesson 14: Social Media Marketing
Lesson 15: Using Analytics for customer insight
Lesson 16: Wrap-up and conclusion
learning_outcomes: T
session: Module 4: How to manage your OTA
Lesson 1: Working With Online Travel Agents
Lesson 2: Why OTA's?
Lesson 3: Reach
Lesson 4: The Billboard Effectt
Lesson 5: Pay-per-Performance
Lesson 6: Reactivity
Lesson 7: Market Information
Lesson 8: Introduction
Lesson 9: Photos
Lesson 10: Content
Lesson 11: User Reviews
Lesson 12: Competitive Rates
Lesson 13: Manage Availability
Lesson 14: How should a hotel work with Expedia?
Lesson 15: How should a hotel work with Booking.com?
Lesson 16: Conclusion
learning_outcomes: T
session: Course 2: The Fundamentals of Revenue Management: The Cornerstone of Revenue Strategy

Module 1: Getting Started with Revenue Management
Lesson 1: Welcome back!
Lesson 2: Fundamentals of Revenue Management: The Cornerstone of Revenue Strategy
Lesson 3: EDC and the importance of Revenue Management
Lesson 4: History of Revenue Management
Lesson 5: Shift in consumer behavior
Lesson 6: Overview of Revenue Management
Lesson 7: Introduction to Segmentation
Lesson 8: Introduction to Forecasting and Budgeting
Lesson 9: Introduction to Pricing
Lesson 10: How Revenue Management can increase Bottom line
Lesson 11: Effective Yielding
learning_outcomes: T
session: Module 2: Introduction to Segmentation
Lesson 1: Overview of Segmentation
Lesson 2: What is Segmentation?
Lesson 3: Evolution in Segmentation1
Lesson 4: Evolution in Segmentation2
Lesson 5: Types of Segmentation
Lesson 6: Strategic Segmentation
Lesson 7: Considerations of Determining Segmentation
Lesson 8: Re-segmentation Process
Lesson 9: Industry Best Practices
Module 3: Introduction to Forecasting & Budgeting
Lesson 1: Introduction to forecasting and budgeting
Lesson 2:Basic terminology
Lesson 3: What is Forecasting?
Lesson 4: Why Forecast?
Lesson 5: Start with Reservation and Market Data
Lesson 6: Competitor Pricing & Online Review Data
Lesson 7: Air Traffic and Weather Data
Lesson 8: Revenue System vs Excel
Lesson 9: Evaluating Forecast accuracy
Lesson 10: Budgeting
Lesson 11: Best Practices
learning_outcomes: T
session: Module 4:Introduction to Pricing
Lesson 1: Overview and Basic Vocabulary
Lesson 2: Hotel Pricing Strategies
Lesson 3: How to increase Rates
Lesson 4: Seven most common Pricing mistakes
Lesson 5: BAR vs Open Pricing
Lesson 6: Revenue Strategy: key to optimizing profit
Lesson 7: Conclusion
learning_outcomes: T
session: Course 3: Demand management: Breaking down today’s commercial silos

Module 1: Asset Management
Lesson 1: Welcome back!
Lesson 2: Introduction
Lesson 3: Introduction
Lesson 4: The Asset Management Triangle
Lesson 5: Development and Planning
Lesson 6: Types of Management
Lesson 7:Construction and (Pre)opening
Lesson 8: Operation and Asset Management and Budgeting
Lesson 9: Asset Cycle
Lesson 10: Valuation
Lesson 11: Exit Strategy
Lesson 12: Conclusion
Lesson 13: Q&A
learning_outcomes: T
session: Module 2: Demand Generation
Lesson 1: Introduction
Lesson 2: Product Offering
Lesson 3: Price Value Theory
Lesson 4: Segmentation
Lesson 5: Creating a Pricing Strategy
Lesson 6: Pricing by Segment
Lesson 7: Business Mix
Lesson 8: Technology and Distribution
Lesson 9: Cost of Distribution and Acquisition
Lesson 10: Conclusion
Lesson 11: Q&A
learning_outcomes: T
session: Module 3: Online Marketing
Lesson 1: Introduction
Lesson 2: The customer journey
Lesson 3: Make the hotel stand out
Lesson 4: Capture the visitors on your website
Lesson 5: Emotion
Lesson 6: Navigation and Reviews
Lesson 7: Third party and intermediary optimization: OTAs
Lesson 8: Third party and intermediary optimization: other channels of distribution
Lesson 9: The Net Contribution Approach
Lesson 10: Advertising Attribution Model
Lesson 11: Q&A
Module 4: Revenue Management
Lesson 1: Introduction
Lesson 2: Why is Revenue Management Important?
Lesson 3:Revenue Management Bingo
Lesson 4: Demand Optimization
Lesson 5: Data Collection and Aggregation
Lesson 6: Analysis I: Benchmarking
Lesson 7: Analysis II: Booking Curves
Lesson 8: Analysis: Forecasting
Lesson 9: Decisions
Lesson 10: Profit Decision Making
Lesson 11: Conclusion
Lesson 12: Q&A
Lesson 13: Conclusion
Lesson 14: Wrap-Up
learning_outcomes: T
session: Course 4: Hôtel “De l'étoile” - a hotel in crisis?

Module 1: Situational analysis
Lesson 1: Introduction to the capstone project: Peter O'Connor
Lesson 2: Situational Analysis: Peter O'Connor
Lesson 3: First Interview with Greg Sayer, Owner of the hotel
Lesson 4: Interview with Gabriella Bidewell, General Manager
Lesson 5: Discussion between Sally Smith and Fred Adam, Revenue Mangers
Lesson 6: Set up by Peter O'Connor and reaction from the owner of the hotel about this analysis
learning_outcomes: T
session: Module 2: Questionning the brand?
Lesson 1: Reaction of the owner about your analysis of the brand and presentation of the possible options by Peter O'Connor
Module 3: Recommendations to the board Family
Lesson 1: Implement your idea operationally:Peter O'Connor
learning_outcomes: T
session: Module 4: Implementation of the strategy
Lesson 1: Wrap up: Peter O'Connor
Review - Offline (optional)
Deadline of Coursera completion: End of Friday of the week
learning_outcomes: T