Units of Assessment

Weighting Towards Module Mark (%)

 

Group assignment (report based on RevSim activity)

50

Individual report (based on RevSim activity)

50

Alternative Assessment

Group assignment will be replaced by requiring an individual assignment that covers aspects of the RevSim activity

Qualifying Condition(s) 

 A weighted aggregated mark of 40% is required to pass the module.

This module is designed to develop an understanding of revenue management (RM) in the international hotel industry. This has become a major strategic tool in the successful operation of these businesses. The module provides an overview of the RM, looking all aspects of this activity from a variety of perspectives – strategic, marketing, operations and human resources.

The aim of the module is to equip students with the approaches, tools and techniques that are required by the revenue management team of an international hotel.

On successful completion of this module students will be able to:

 1          understand the individual roles of different members of an hotel's revenue management team

 2          evaluate how revenue management affects the performance of a hotel operation

 3          make revenue management decisions that improve hotel performance

•          History and development of revenue management

 •          Customers’ Knowledge and Consumer Behaviour

 •          Market Segmentation and Selection

 •          Internal Assessment and Competitive Analysis

 •          Economic Principles and Demand Forecasting

 •          Reservations and Channels of Distribution

 •          Dynamic Value-Based Pricing

 •          Channel and Inventory Management

 •           The Revenue Management team and organisational culture

Each week students will have a lecture which will be supported by readings from the recommended text and additional ULearn materials (handouts, weblinks, Powerpoints, and etc.).  Students will also be put into groups to participate in the RevSim simulation wherein they make revenue management decisions over an eight week period.  They will receive weekly feedback on this activity.

  Assessment Strategy:

 For the Group Assignment students write a report that identifies the strategy they adopted as a team in managing their RevSim hotel   This tests learning outcomes 1 and 3.

 For the individual assignment the students reflect on the performance of their RevSim hotel and the role that individual team members played in this.  This tests learning outcomes 1 and 2.

Essential Reading

 Tranter,A.K., Stuart-Hill,T., and Parker, J., (2008).  An Introduction to Revenue Management for the Hospitality Industry, Principles and Practice for the Real World.  Pearson.

 Recommended Reading

 Jones, P., and Hamilton, D., (1992). Yield Management: Putting People in the Picture Cornell HRA Quarterly, February, 89-95.