This course will enable you to evaluate menus and identify changes that will optimize the value and profitability of your food and beverage operation. He is currently working on a project to disaggregate hotel room rates within urban markets and another to determine the risk-return characteristics of hotel room rates in major U.S. markets. Zollinger Professor of Finance at the College of William and Mary Mason School of Business. In this course, you will create a strategy to turn a work group into a high-functioning team by evaluating challenges and applying techniques to generate positive team outcomes. Enter your information to get access to a virtual open house with the eCornell team to get your questions answered live. Kimes earned her doctorate in operations management in 1987 from the University of Texas at Austin. You will also identify the skills needed to develop relationships crucial to your career development as a leader, based on the research and expertise of Professor Kate Walsh, Ph.D. of Cornell University’s School of Hotel Administration. Periodically, they create reports that allow management, stakeholders and regulating authorities to have insight into the financial health of the organization. You'll also take a deep dive into what drives consumer behavior. School: eCornell- Cornell University Degree: Certificate Subject: Health & Medical Request more information » Degree candidates are coached in areas like marketing, accounting and team building so they can effectively manage a hospitality department or organization. There are several things you need to decide when it comes to how you are going to take reservations in your restaurant. Running a successful hotel today is a highly collaborative process involving many roles. As you become familiar with asset management ratios such as days sales outstanding and days to turnover, you will be able to apply these techniques in comparing your company's performance against others in the industry and against its own financial history. This course, authored by Cornell University’s Professor Sheryl E. Kimes, reviews the basics of revenue management and outlines the application of revenue management principles to other businesses, both inside the hotel and beyond, such as spas, restaurants, and golf courses. The 23 eCornell certificate programs cost $2,000 to $6,000 about the same as students would pay for similar in-person programs. A professor of management, she has been a member of the school’s faculty since 2000. Hear an eCornell hospitality student share their story. By sharing my information I accept the terms and conditions described inÂ, Using Ratio Analysis to Evaluate Financial Performance, Services Marketing Planning and Management, Evaluating Business and Customer Factors Affecting Marketing Decisions for Services, Forecasting and Availability Controls in Hotel Revenue Management, Marketing the Hospitality Brand Through Digital Media, Utilizing Income Statements and Operational Data, Introduction to Restaurant Revenue Management, Implementing Brand Strategy Through Digital Media, Pricing Strategy and Distribution Channels in Hotel Revenue Management, Overbooking Practices in Hotel Revenue Management, Non-Traditional Applications of Hotel Revenue Management, Building a Resilient Services Marketing Information System, Developing a Service Strategy and Managing the Brand, Managing Service Demand through Pricing and Distribution Strategies, Developing an Integrated Marketing Communications Strategy for Services, Managing Your Food and Beverage Supply Chain, Advanced Hospitality Strategic Marketing and Brand Innovation, Wines of California, the Pacific Northwest, and New York, Overbooking Practices in Hotel Revenue Management", Define and differentiate between leadership and management, Create a plan for overcoming new leadership challenges and forming a high-functioning team, Identify the proper online sources of financial information for research purposes, Understand the structure of the three principal financial statements, Analyze your firm’s marketing approach and make strategic decisions on how to optimize your team’s efforts, Design and execute your own pricing strategy for a particular product or service, Develop the fundamentals and practical skills involved in planning, opening, and managing an operation, Assess a restaurant’s revenue capability and how to maximize its profitability, Adopt a strategy that is focused on revenue per available room (RevPAR). For more than twelve years he has taught economics, pricing, and marketing distribution courses at the undergraduate, graduate, and executive-education level. The ratio analysis tools you learn will help your organization to design and implement initiatives for increased productivity and profitability. She later transferred to Courtyard Hotels, by Marriott, where she became one of the youngest general managers of a Courtyard property. Alex Susskind is a Professor of Food and Beverage Management and is currently serving as the Associate Dean for Academic Affairs. *Discount is on prepayment only and does not apply towards degree programs, corporate partnerships, custom programs, executive education programs, PHR Prep, Plant-Based Nutrition, Pharmaceutical Management, any single course, or previous enrollments. This certificate series is designed for marketers, brand managers, communications professionals, business leaders and executives, PR professionals, and entrepreneurs. Hospitality Management 360 Certificate from Cornell Hotel School, 180 Professional Development Hours (18 CEUs), 24 Professional Development Credits (PDCs) toward SHRM-CP and SHRM-SCP recertification, 24 credit hours toward HRCI recertification, 25.25 Professional Development Units (PDUs) toward PMI recertification, Hospitality managers working in hotels and corporate offices, Hospitality professionals aspiring to management positions. As a manager, you need to understand both the metrics that are reported in income statement, balance sheets, and cash flow statements, and how they relate to each other. He has recently finished a major project designed to identify the determinants of hotel demand for U.S. hotels and another on economic and capital market antecedents of venture capital commitments.