Course Information Undergraduate prospectus

Revenue Management for Hospitality

Course summary

Course code: FINA1131
Level: 6
Credits: 15
School: Business Faculty
Department: Marketing, Events and Tourism
Course Coordinator(s): BUS TBA

Specification

Aims

This course aims to support students to develop a critical understanding of the role of revenue management within hospitality businesses along with practical skills in revenue management.

Learning outcomes

On successful completion of this course a student will be able to:
1 Critically evaluate the significance of revenue management in the hospitality industry
2 Apply skills in revenue management to solve complex problems in case studies in the hospitality industry
3 Work in teams to analyse and creatively overcome challenges facing hospitality businesses, using advanced revenue management techniques

Indicative content

• Key principles of revenue management – pricing, value, differential pricing, demand and demand forecasting, the role of the revenue manager
• Inventory management
• Distribution channel management
• Using metrics to manage revenue
• Room Pricing
• Food &Beverage costs and pricing strategies
• Cost benefits of Refurbishment
• Analysis of Capital Improvements
• Revenue Management ratios

Teaching and learning activity

Lectures, tutorials, directed and self-managed research, reading and information analysis (e.g. case studies, journal and newspaper articles including international case studies This course will also make use of a strategic hospitality management simulation program, through which students will develop revenue management strategies, which they will then apply, monitor and evaluate in real-time in teams.

Assessment

Simulation exercise report - 100%
LO - 1,2,3
Pass mark - 40%
4,000 word equivalent.
A critical report on the student’s experience of a hospitality business simulation exercise.

Nature of FORMATIVE assessment supporting student learning:
Feedback on in-class discussions and informal formative tasks, including ongoing formative feedback on the simulation software.