InterContinental Hotels Group, Cornell Hotel School Take Innovative Approach to Revenue Management Training
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InterContinental Hotels Group, Cornell Hotel School Take Innovative Approach to Revenue Management Training
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Category: Europe
This is a press release selected by our editorial committee and published online for free on 2007-08-17
InterContinental Hotels Group (IHG) has collaborated with Cornell University’s School of Hotel Administration to raise the bar on revenue management training in the hospitality industry. Those organizations recently pilot-tested the “Revenue Academy Masters Course,” a week-long, executive-level course taught by industry experts Stowe Shoemaker, Ph.D., Chekitan S. Dev, Ph.D., and Bill Carroll, Ph.D.
“This is the first time Cornell’s renowned School of Hotel Administration has worked with a hotel company to develop an in-depth course in the revenue management discipline,” says Heather Scharmer, IHG manager, Revenue Management Training and Development. “Together, we’ve created a program that enables participants to learn and apply proven methods for maximizing revenue opportunities.”
Jeanne Frensky, IHG vice president, Revenue Management adds, “The course is the culmination of our Revenue Academy curriculum. It expands the knowledge within our revenue community, while preparing our revenue management team for the future of the hospitality industry.”
Sixteen revenue managers from the company’s Asia-Pacific, Europe, Middle East, Africa and Americas regions attended the inaugural course, which focuses on key concepts and trends relating to pricing, strategic marketing and distribution. Participants were invited to attend based on their recent achievements within IHG’s Revenue Management Degree and Honors courses, as well as their roles within the company.
Upon completing the course, participants were tasked with implementing a project that directly applies their new knowledge to the particular nuances of their property. As a result, Patrick Wimble, director, Revenue Development for IHG in Europe, the Middle East and Africa says, “We expect to see positive performance results that will quickly boost a hotel’s top line.”
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