Course
Discontinued
No
Course Code
HOSP 3100
Descriptive
Revenue Management in Hospitality
Department
Hospitality Management
Faculty
Commerce & Business Administration
Credits
3.00
Start Date
End Term
202020
PLAR
No
Semester Length
15
Max Class Size
35
Contact Hours
Lecture 2
Seminar 2
Method(s) Of Instruction
Lecture
Lab
Seminar
Learning Activities
Combination of lecture/seminar, case analysis and revenue management stimulation exercise.
Course Description
This course focuses on skills revenue managers require to manage revenue through demand and supply management, value propositions and pricing. Effective leadership in forecasting, demand analysis, market segmentation, purchase behavior analysis, and distribution management are key areas covered. Key aspects of maximizing assets for a greater return on investment are examined. Analysis of political, economic, socio-
cultural and technological forces is undertaken to predict opportunities for profit maximization.
cultural and technological forces is undertaken to predict opportunities for profit maximization.
Course Content
- Introduction to Revenue Management
- Strategic Pricing
- Value Pricing
- Differential Pricing
- The Revenue Managers’ role
- Forecasting Demand
- Segmentation and Buyer Behavior
- Distribution Channel Management
- Specialized applications of Revenue Management
Learning Outcomes
Upon completion of the course the student will be able to:
- Articulate the impact of supply and demand in pricing
- Illustrate the principles of cost in pricing
- Summarize the role of value in pricing
- Demonstrate the link between quality, service and price perceptions
- Use differential pricing given a number of demand models
- Act the role of a revenue manager in moderating yield management decisions
- Articulate the legal aspects of revenue management
- Critique ethical aspects of revenue management
- Use demand forecasting incorporating historical, current and future data
- Manage inventory according to demand
- Predict purchase behavior according to market segmentation
- Manage distribution channels to maximize yield
- Demonstrate the ability to work cooperatively in group settings
- Apply case analysis to revenue management situations synthesizing information to drive pricing decisions
- Develop, analyze and use appropriate data for revenue management decision-making and control purposes and inventory allocation
- Write a revenue management implementation strategy
Means of Assessment
| Case study analysis | 15% |
| Simulation Exercise | 15% |
| Group project and presentation(s) | 15% |
| Individual assignment(s) | 25% |
| Exam(s) | 30% |
| 100% |
Textbook Materials
David K. Hayes & Allisha A. Miller, Revenue Management for the Hospitality Industry, John Wiley, or similar text as approved by department.
Use of only Commerce and Business faculty approved calculator