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HRTM71-205: Strategic Pricing and Revenue Management

Description

Revenue Management is used by many service-based organisations to enable prices to be set strategically to maximise revenue and profitability. An understanding of revenue management practices will enable you to apply data-based decision making to answer important questions such as what to sell when to sell, who to sell to, and at what price. Topics covered include revenue management metrics; demand forecasting; value-based pricing; inventory management; distribution channel management; and competitor benchmarking. You will learn about the role of Revenue Manager and how this professional role interacts with and is influenced by, other departments within an organisation to optimise revenue outcomes. You will put your skills in revenue management into practice as you work in teams to manage a simulated hotel using the Hotel Operations, Tactics and Strategy (HOTS) system to implement strategic pricing and revenue management decisions.

Subject details

Type: Postgraduate Subject
Code: HRTM71-205
EFTSL: 0.125
Faculty: Bond Business School
Semesters offered:
  • May 2022 [Standard Offering]
Credit: 10
Study areas:
  • Business, Commerce, and Entrepreneurship
Subject fees:
  • Commencing in 2021: $5,110.00
  • Commencing in 2022: $5,170.00
  • Commencing in 2023: $5,300.00
  • Commencing in 2021: $5,570.00
  • Commencing in 2022: $5,570.00
  • Commencing in 2023: $5,710.00

Learning objectives

1. Critically evaluate the competitor environment with regards to customer value and pricing strategy. 2. Develop and justify demand forecasts for accommodation businesses. 3. Compare the pricing and rate management strategies used by service organisations to maximise revenue. 4. Evaluate the effectiveness of the pricing and revenue management strategies of accommodation and service-based businesses. 5. Implement strategies to maximise revenue for accommodation services. 6. Interpret key revenue management metrics for accommodation and service based businesses. 7. Demonstrate effective contribution to a team which is responsible for implementation of management decisions intended to maximise revenue in a simulated hotel.

Enrolment requirements

Requisites:

Nil

Assumed knowledge:

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):

Restrictions:

Subject dates

  • Standard Offering
    Enrolment opens: 20/03/2022
    Semester start: 16/05/2022
    Subject start: 16/05/2022
    Cancellation 1: 30/05/2022
    Cancellation 2: 06/06/2022
    Last enrolment: 29/05/2022
    Withdraw - Financial: 11/06/2022
    Withdraw - Academic: 02/07/2022
    Teaching census: 10/06/2022
Standard Offering
Enrolment opens: 20/03/2022
Semester start: 16/05/2022
Subject start: 16/05/2022
Cancellation 1: 30/05/2022
Cancellation 2: 06/06/2022
Last enrolment: 29/05/2022
Withdraw - Financial: 11/06/2022
Withdraw - Academic: 02/07/2022
Teaching census: 10/06/2022