Revenue strategy reaches hotel students worldwide
London, November 16, 2015 – As higher education goes online and responds to the architecture of knowledge in a digital age, a new online course entitled “Fundamentals of Revenue Management: The Cornerstone of Revenue Strategy”, has enrolled more than 1,300 students on six continents in less than a week – testifying to the growing influence of Revenue Strategy as a framework for helping hotels measure and overcome rising distribution costs to operate more profitably.
Created by Duetto and Essec Business School, the course is part of an online specialization that covers the fundamentals of electronic distribution management, revenue management and demand management, providing tools to succeed in a new era in which hotels are increasingly challenged by the growth of third-party intermediaries and the further commoditization of the hospitality industry.
Patrick Bosworth, co-founder and CEO of Duetto, said, “The hotel market worldwide is becoming increasingly competitive with pricing pressures from outside the industry eating into hotels’ profits. It is an international problem, which demands a global solution. Massive Open Online Courses (MOOCs), such as the one we have launched with Essec, are providing a much-needed catalyst for the development of progressive programs that respond to the rapidly changing operating environment and helping hoteliers develop the toolsets to thrive. We’re delighted to recognize this course’s rapid acceptance by hotel students worldwide.”
About Essec’s Series, “Hotel Management: Distribution, Revenue & Distribution Management”
Offered on the online education platform Coursera, the Revenue Strategy course is the second in a four-part specialization that resulted from a collaboration by Essec, Duetto and SnapShot GmbH, designed for individuals interested in a career in hospitality management, and covering hotel demand, hotel revenue and hotel distribution management.
Each of the specialization’s four parts is led by senior hotel industry executives and individuals with comprehensive hospitality industry experience, enabling students to get a comprehensive view of the biggest challenges and best practices in Revenue Strategy.
Duetto, the market leader in hotel profit optimization technology, is the founder of the new discipline of Revenue Strategy which is taking root worldwide, and author of the Revenue Management module. The “Fundamentals of Revenue Management,” has an emphasis on “analytics-based techniques [that] help predict consumer behavior at the hotel’s market level so that the hotel can sell each room each night at the optimum price.”
At the conclusion of the four-part specialization, students complete a capstone project in which they must apply the skills and knowledge they collected from their courses. The Capstone project is intended to prepare students for the next step in their hospitality career, which is applying for entry-level positions in the fields of hotel distribution and revenue management. Each successful candidate earns a certificate from Coursera and Essec Business School.
“We could not be more pleased with the innovative specialization that has been created, or with initial reception of the Revenue Strategy module worldwide,” said Peter O’Connor, Information Systems Professor and Director of Essec’s MBA in Hospitality Management (IMHI). “We look forward to sharing continued good news about our program’s evolution and milestones in the weeks ahead.”
Duetto delivers the most powerful revenue strategy solutions to the world’s leading hotels and casinos, allowing them to better manage pricing, revenue and business-mix decisions with superior, actionable data.
The unique combination of hospitality experience and technology leadership enables Duetto to provide new insights on pricing and demand as a true cloud-based software-as-a-service. With solutions that address the challenges of today’s distribution landscape, Duetto’s applications are a GameChanger — optimizing profit and guest loyalty.
Nearly 1,000 hotels and casinos in more than 50 countries have partnered to use Duetto’s revenue strategy solutions.
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Tags: demand management, Duetto, electronic distribution management, Essec, Essec Business School, Fundamentals of Revenue Management, Hotel Management: Distribution, hotel revenue strategy, Massive Open Online Courses, Patrick Bosworth, Peter O’Connor, Revenue & Distribution Management, revenue management, revenue strategy