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Unit of Study TRM73001 - Revenue and Yield Management for Tourism and Hospitality (2019)

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Unit Snapshot

  • Enrolment information

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Unit description

Uses the Hotel Operations, Tactics and Strategy (HOTS) simulation program to engage students in decision-making to maximise revenue and increase yield within hospitality/tourism businesses. Students will learn and critically review key theories and approaches to revenue and yield management in order to develop skills in managing these two aspects of contemporary hotel management.

Unit content

  1. Introduction to revenue and yield management
  2. HOTS simulation environment
  3. Strategy and business planning
  4. Marketing
  5. Understating financial statements
  6. Budgeting
  7. Ratio analysis
  8. Hotel industry data and benchmarking
  9. Revenue management strategies
  10. Trends, challenges, and future

Availabilities

Location Domestic International
Melbourne - The Hotel School Session 2,  3 Session 2,  3
Sydney - The Hotel School Session 2,  3 Session 2,  3

Learning outcomes and graduate attributes

Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.

On completion of this unit, students should be able to:

GA1: Intellectual rigour, GA2: Creativity, GA3: Ethical practice, GA4: Knowledge of a discipline, GA5: Lifelong learning, GA6: Communication and social skills, GA7: Cultural competence
Learning outcome count Learning outcome description GA1 GA2 GA3 GA4 GA5 GA6 GA7
1 Describe the foundations of revenue management
2 Examine the evolution of yield within hospitality and tourism businesses
3 Evaluate models, pricing and rate management strategies used by organisations to maximize revenue and yield
4 Appraise operational tools for revenue and yield management across hospitality and tourism industries
5 Make and communicate appropriate revenue and yield decisions with a simulated hotel environment

On completion of this unit, students should be able to:

  1. Describe the foundations of revenue management
    • GA1:
    • GA4:
  2. Examine the evolution of yield within hospitality and tourism businesses
    • GA1:
    • GA4:
  3. Evaluate models, pricing and rate management strategies used by organisations to maximize revenue and yield
    • GA1:
    • GA4:
  4. Appraise operational tools for revenue and yield management across hospitality and tourism industries
    • GA1:
    • GA4:
  5. Make and communicate appropriate revenue and yield decisions with a simulated hotel environment
    • GA6:

Prescribed learning resources

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Prescribed Learning Resources may change in future Teaching Periods.