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.
|Faculty||Bond Business School|
|Study abroad||Available to Study Abroad students|
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
Students must have successfully completed HRTM12-203 Rooms Division Management or equivalent prior to undertaking HRTM12-205