Course

10109134 Revenue Management
Course Information
Description
Distinguishing between tactical and strategic revenue management, we explore foundational aspects of revenue management and then develop a strategic revenue management focus. We focus on current challenges for revenue managers, big data and market intelligence, the role of social media on revenue management, and new market segmentation approaches.
Total Credits
3
Course Competencies (Course Outcomes)
  1. Define revenue management, its historical significance, and the traits of businesses that benefit most from its application
    Assessment Strategies
    Case Studies
    Journal
    Criteria
    Explain the purpose and historical development of revenue management
    Identify business characteristics that support effective revenue management

  2. Calculate, interpret, and apply key internal and external performance metrics, including market share, penetration indexes, and total hotel revenue management
    Assessment Strategies
    Case Study
    Assessments
    Criteria
    Calculate revenue management metrics accurately
    Interpret and apply performance results to business decisions

  3. Identify challenges in measurement and effectively interpret data to inform strategic decisions
    Assessment Strategies
    Case Studies
    Journal
    Assessments
    Criteria
    Identify limitations and challenges within revenue management data (STR report)
    Interpret data to support strategic recommendations (STR report)

  4. Explain the role of forecasting in revenue management, including short- and long-term components and their influence on demand management
    Assessment Strategies
    Case Studies
    Assessments
    Criteria
    Develop short term and long term forecasts using relevant data
    Apply forecasting results to demand management decisions

  5. Identify tactical rate management components, discuss upselling benefits, and summarize demand-based dynamic pricing
    Assessment Strategies
    Case Studies
    Assessments
    Criteria
    Apply tactical and dynamic pricing strategies based on demand
    Recommend upselling practices that increase revenue and guest value

  6. Utilize stay control tactics and capacity management strategies to maximize occupancy and revenue while addressing risks such as overbooking
    Assessment Strategies
    Assessments
    Final capstone project
    Criteria
    Apply stay controls and capacity management strategies to maximize revenue
    Evaluate the benefits and risks of overbooking decisions

  7. Explain the role of differentiation in demand generation, describe marketing concepts, and analyze their impact on strategic revenue management efforts
    Assessment Strategies
    Case Study
    Scenario Response
    Criteria
    Explain how differentiation and marketing generate demand
    Evaluate the impact of marketing strategies on revenue performance

  8. Describe the capabilities of automated revenue management systems, identify effective distribution channel strategies, and discuss the importance of mobile and social media marketing
    Assessment Strategies
    Case Study
    Scenario Response
    Criteria
    Evaluate automated revenue management system capabilities
    Recommend distribution, mobile, and social media strategies that support revenue goals

  9. Analyze the evolving role of a revenue manager, including their responsibilities, required competencies, and the pros and cons of the position
    Assessment Strategies
    Interview
    Product
    Criteria
    Explain the responsibilities and competencies of a revenue manager
    Evaluate the advantages, challenges, and evolving expectations of the position