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Unit Summary
Unit aim
Introduces students to the principles and practices of Revenue Management in the Hospitality industry. Students focus on: fixed capacity, a segmentable market, perishable inventory, and varying but predictable demand, to analyse information and develop responses. Students use the HOTS simulation to develop Revenue Management Skills.
Unit content
- Introduction to Revenue Management in the Hospitality Industry.
- Revenue Management and Marketing
- Revenue Management and Distribution channels.
- Revenue Management and Pricing
- Revenue Management and Budgeting and Forecasting.
- Revenue Management and Performance Analysis.
Learning outcomes
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: | |
|---|---|
| 1 | Demonstrate knowledge of the principles and practices of Revenue and Yield Management. |
| 2 | Identify and critically analyse the key elements of revenue and yield management and how they impact both guest satisfaction and profitability |
| 3 | Demonstrate the capability to analyse revenue management data and make appropriate recommendations. |
| 4 | Demonstrate the knowledge and skills to reflect upon the challenges of implementing a revenue management culture. |
On completion of this unit, students should be able to:
- Demonstrate knowledge of the principles and practices of Revenue and Yield Management.
- Identify and critically analyse the key elements of revenue and yield management and how they impact both guest satisfaction and profitability
- Demonstrate the capability to analyse revenue management data and make appropriate recommendations.
- Demonstrate the knowledge and skills to reflect upon the challenges of implementing a revenue management culture.
Prescribed texts
Hotel Operations, Tactics and Strategy (HOTS) simulation program, HOTS background information and user guide.
Hotel Operations, Tactics and Strategy (HOTS) simulation program, HOTS background information and user guide.
- Prescribed text information is not currently available.