The Cornell-Nanyang Institute of Hospitality Management (CNI) recently hosted a public lecture on Revenue Management, led by Dr. Sheryl E. Kimes, the Singapore Tourism Board’s Distinguished Professor of Asian Hospitality Management, Cornell-Nanyang Institute of Hospitality Management. Over fifty participants attended the seminar, many of them new to the revenue management discipline.Dr. Kimes presented a thorough overview of Revenue Management for an audience comprising of both revenue management veterans and those new to this field.
Limin Cheng of Raffles Hotels & Resorts said “We brought our whole marketing team here today, and it gave them an excellent insight into what revenue management is all about.”
Dr. Kimes completed a global study to gauge how revenue management has changed during these times of economic uncertainty in March 2009. The study found that revenue managers currently feel the pressure to reduce price to maintain market share. She capitalized on this information during the lecture, using locally relevant examples, reiterating that revenue management was about “selling the right space, at the right price and at the right time to the right customer.”
Amy Lugg, an executive search consultant with Garner International, attended the lecture because she has some prior experience in hospitality and wanted to reacquaint herself with the industry. She said “The lecture was extremely well put together. The pitch was very good. Dr Kimes is clearly very knowledgeable, so much so that you want to converse with her. The CNI workshop was very good.”
CNI offers revenue management as one of the career tracks for its Masters of Management in Hospitality program, an MBA focused on the hospitality industry that is awarded jointly by the Cornell School of Hotel Administration and the Nanyang Business School. The MMH is a one year program, where students spend six months in Singapore and six months in Ithaca, New York. Hospitality professionals who wish to gain skills and knowledge in a specific area in a short period of time can pursue the Professional Development Program or PDP which will run from July 23 to August 5, 2009 at the Nanyang Technological University Campus. If you register for the PDP now and pay in full by May 31, 2009, you can save USD 500 for each PDP course.