|Faculty:||Bond Business School|
Revenue Management is used in service organisations to enable prices to be set strategically; optimise the management of inventory; and sell more strategically to maximise revenue and profitability. An understanding of revenue management practices will enable students to apply data-based decision making to answer important questions such as what to sell, when to sell, whom to sell to and at what prices. Students will learn about the role of revenue management specifically in the hotel and tourism industries and discover how this role interacts with, and is influenced by, other departments within an organisation to optimise revenue outcomes. Students will put their skills in revenue management into practice as they work in teams to manage a simulated hotel using the Hotel Operations, Tactics and Strategy (HOTS) system. They will implement revenue management and other operational decisions as they aim to meet their goals to improve the performance of the hotel.
- Create a plan to achieve revenue management goals for a hotel.
- Explain revenue management metrics in an accommodation context.
- Explain how revenue management practices and other managerial decisions affect revenue outcomes to recommend strategies for improvement.
- Develop occupancy and revenue forecasts for a hotel and explain your rationale.
- Demonstrate effective contribution to a team which is responsible for implementation of management decisions to maximise revenue in a simulated hotel.
- Deliver an oral presentation which explains revenue management achievements and challenges and proposes recommendations for improvement.
Assumed knowledge is the minimum level of knowledge of a subject area that students are assumed to have acquired through previous study. It is the responsibility of students to ensure they meet the assumed knowledge expectations of the subject. Students who do not possess this prior knowledge are strongly recommended against enrolling and do so at their own risk. No concessions will be made for students’ lack of prior knowledge.
Assumed Prior Learning (or equivalent):
Standard Offering Enrolment opens: 19/03/2023 Semester start: 15/05/2023 Subject start: 15/05/2023 Cancellation 1: 29/05/2023 Cancellation 2: 05/06/2023 Last enrolment: 28/05/2023 Withdraw - Financial: 10/06/2023 Withdraw - Academic: 01/07/2023 Teaching census: 09/06/2023
|Withdraw - Financial:||10/06/2023|
|Withdraw - Academic:||01/07/2023|