| Module Code: MANM243 |
Module Title: REVENUE MANAGEMENT |
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Module Provider: School of Management
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Short Name: MANM243
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Level: M
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Module Co-ordinator: JONES PL Prof (SoM)
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Number of credits: 15
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Number of ECTS credits: 7.5
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| Module Availability |
| Spring |
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| Assessment Pattern |
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Description
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%
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Week Set
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Week Hand in
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1
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Group report
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50
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2
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Examination
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50
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Total
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The criteria for the first assessment will include research and analysis, while for the second assessment the focus will be on the analysis and synthesis of theory and practice. |
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| Module Overview |
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. |
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| Prerequisites/Co-requisites |
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| Module Aims |
The aim of the module is to introduce students to how revenue management is executed and the impact it has on business performance. The module will be approached from the viewpoint of the Revenue Manager, who needs to manage this complex activity with the aid of specialists both inside and outside his or her organisation. |
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| Learning Outcomes |
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Number
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Outcome Type
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On successful completion of this module, the student will be able to:
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1
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K
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Explain revenue management and its application in different industry sectors
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2
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K
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Comprehend and apply market segmentation
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3
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C/P/T
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Formulate revenue management policies and decisions
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4
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C/K
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Understand and apply the principles of forecasting and dynamic pricing
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5
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K/P
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Consider and select appropriate distribution channels in managing revenue
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6
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K/P
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Analyse and interpret revenue management data
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7
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K
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Explain the role of the Revenue Manager and the RM team
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8
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K/C/P
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Implement Revenue Management within a hotel
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Transferable Skills:
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| Module Content |
- History and development of revenue management
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Customers’ Knowledge and Consumer Behaviour
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Market Segmentation and Selection
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Internal Assessment and Competitive Analysis
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Economic Principles and Demand Forecasting
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Reservations and Channels of Distribution
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Dynamic Value-Based Pricing
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Channel and Inventory Management
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The Revenue Management team and organisational culture
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RM Implementation
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| Methods of Teaching/Learning |
The teaching and learning strategy is based on weekly lectures (whole group) to establish the principles, accompanied by a Revenue Management Simulation, in which teams will compete against each other to manage a virtual hotel.
The teaching and learning methods include guest speakers and case studies would be used to demonstrate how the key principles apply in practice. This will be supported by resources and activities in ULearn such as lecture slides, further reading, study guide, quizzes, weblinks, and webcasts. |
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| Selected Texts/Journals |
Expected Purchase
Kimberly A. Tranter, Trevor Stuart-Hill, and Juston Parker (2008) An Introduction to Revenue Management for the Hospitality Industry, Principles and Practice for the Real World, Pearson
Recommended
Readings (in ULearn)
Jones, P. and Hamilton, D. (1992) Yield Management: Putting People in the Picture Cornell HRA Quarterly, February, 89-95
Jones, P., Jarvis, N. and Lindh, A (1998) An Investigation of Key Criteria Affecting the Adoption of Yield Management in UK Hotels, Progress in Hospitality and Tourism Research, 4, 3, 207-216
Jones, P. (1999) Yield Management in Hotels: A Systems Analysis, Journal of Operational Research Society, 50, 11, 1111-1119
Jones, P. and Kyung Ho Choi (1999) The Impact of Yield Management on Hotel Performance, CHRIE International Annual Conference,
Albuquerque, New Mexico
El Haddad, R., Roper, A. and Jones, P. (2008) The Impact of Revenue Management Decisions on Customers’ Attitudes and Behaviours: A Case Study of a Leading Budget Hotel Chain, EuroCHRIE Conference 2008,
Dubai |
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| Last Updated |
| 7th November 2008 |
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