[MUSIC] >> To use a word we often hear in the hotel industry, welcome. We're very glad that you've joined us here on this MOOC about the fundamentals of hotel online distribution. Today's hotel sector is very exciting and dynamic, with many different opportunities for motivated employees with the right knowledge and skill sets. And it's clear that a thorough understanding of hotel online distribution is indispensable for anybody wanting to work in management and operations within the sector. With an ever increasing proportion of a hotel's business flowing through electronic, be they web or mobile, channels, understanding where these bookings come from, the systems that facilitate them, as well as the relative strengths and limitations of each alternative point of sale has become essential. Having the right competencies to be able to manipulate and optimize bookings from these channels is also a key skill. To help you better understand this highly dynamic landscape, during the following sessions we will explore the fast developing hotel online distribution environment. First of all examining the situation from a macro perspective to gain an overview of how the sector actually works. We will then deep dive into the fast paced world of hotel electronic channels, examining the characteristics of each alternative route to the customer, and assessing their respective strengths and weaknesses. We will discuss some of the highly contentious issues surrounding hotel distribution today, most notably price parity as well as distribution cost. And having taken a high-level pass on this sector, in modules three and four respectively, we will then focus in depth on the two seemingly alternative, but in fact highly complimentary ways of reaching out to the customer. Your direct brand.com web presences and making use of the extensive networks of OTAs, Online Travel Agents, that now have a powerful effect on the hotel distribution environment. During our sessions we will hear from industry experts, look at examples of industry best and worst practice, reinforce your learning using quizzes and online discussions, as well as debate current developments and topical issues in the online forums. Given the dynamic and fast pace of developments within the sector, it's going to be a whirlwind of a journey, and I look forward to traveling with you. But first of all, to help us understand why distribution is important in the first place let's hear from my colleague, professor Nicolas Graf from ESSEC Business School, to explain just why distribution is the key issue in hotel success today.