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HRTM12-205: Strategic Pricing and Revenue Management

Description

The focus of this subject is on hospitality industry pricing strategies and revenue management. This subject combines elements of yield management, technology, and data collection to produce an interactive approach to managing return. The financial methods for determining pricing structures and revenue optimization form the basis of the subject. Topics include pricing theory; marginal return measures; Rev Par; and competitive analysis. A simulated hotel package Hotel Operations, Tactics and Strategy (HOTS) is used to enable students to explore the revenue performance outcomes of key hotel management decisions they are responsible for making.

Subject details

TypeUndergraduate
CodeHRTM12-205
EFTSL0.125
FacultyBond Business School
Semesters offered
  • May 2018 [Standard Offering]
  • May 2019 [Standard Offering]
Credit10
Study abroadAvailable to Study Abroad students
Study areas
  • Hotel and Tourism
Subject fees
  • Commencing in 2018: $4,247
  • Commencing in 2019: $4,290

Learning outcomes

1. Conduct a competitor analysis and internal assessment of approaches to pricing for relevant hospitality market segments.
2. Develop occupancy forecasts for the hospitality operation.
3. Explain the various pricing and rate management strategies used by hospitality operators to maximise revenue.
4. Analyse the effectiveness of the pricing and revenue management strategies of selected hospitality operations.
5. Develop strategies to maximise revenue for hospitality businesses.
6. Calculate key revenue related operating statistics in hospitality.
7. Implement management decisions which aim to maximise performance outcomes within a simulated hotel environment

Prerequisites

Students must have successfully completed HRTM12-203 Rooms Division Management or equivalent prior to undertaking HRTM12-205

Subject outlines

Subject dates

Standard Offering
Enrolment opens18/03/2018
Semester start14/05/2018
Subject start14/05/2018
Cancellation 1?28/05/2018
Cancellation 2?04/06/2018
Last enrolment27/05/2018
Last withdrawal?08/06/2018
Teaching census?08/06/2018