Hospitality Profit Optimization

Catalog description

Profit optimization requires the careful coordination of capacity and demand management efforts. This course takes a three pronged approach to addressing the coordination of these efforts. First, it focuses on demand management, and short-term forecasting to predict and influence demand. Second, it examines key capacity management challenges, capacity planning and workforce scheduling, using both optimization and simulation modeling to derive capacity management decisions that balance customer satisfaction with cost efficiency goals. This course addresses the overarching role of pricing in balancing capacity utilization and demand. Pricing will be addressed from a strategic and a tactical perspective, with an emphasis on profit maximization across all revenue-generating assets within the organization, and a profit-oriented approach to distribution channel management.