REVENUE MANAGEMENT - 2020/1
Module code: MANM243
This module is designed to develop an understanding of revenue management (RM) in the international hotel industry. This has become a major strategic tool in the successful operation of these businesses. The module provides an overview of the RM, looking all aspects of this activity from a variety of perspectives – strategic, marketing, operations and human resources
Hospitality, Tourism & Events Management
WANG Lorna (Hosp & Tour)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 7
JACs code: N340
Module cap (Maximum number of students): N/A
Prerequisites / Co-requisites
- History and development of revenue management
- Customers’ Knowledge and Consumer Behaviour
- Market Segmentation and Selection
- Internal Assessment and Competitive Analysis
- Economic Principles and Demand Forecasting
- Reservations and Channels of Distribution
- Dynamic Value-Based Pricing
- Channel and Inventory Management
- The Revenue Management team and organisational culture
- RM Implementation
|Assessment type||Unit of assessment||Weighting|
|Coursework||GROUP REPORT 1500 WORDS||50|
|Examination||1 HOUR 30 MINUTE CLOSED BOOK EXAM||50|
Alternative Assessment to the Group Assessment is an individual report of 1500 words
The group work applies RM principles and practices through the simulation and requires students to demonstrate their learning through a report on this activity. The exam tests students’ knowledge and understanding of the subject area, along with the application of this through worked examples.
Students receive feedback throughout the semester via face to face teaching which will support them to complete the assessments.
- The aim of the module is to introduce students to how revenue management is executed and the impact it has on business performance. The module will be approached from the viewpoint of the Revenue Manager, who needs to manage this complex activity with the aid of specialists both inside and outside his or her organisation.
|1||Explain revenue management and its application in different industry sectors|
|2||Comprehend and apply market segmentation|
|3||Formulate revenue management policies and decisions|
|4||Understand and apply the principles of forecasting and dynamic pricing|
|5||Consider and select appropriate distribution channels in managing revenue|
|6||Analyse and interpret revenue management data|
|7||Explain the role of the Revenue Manager and the RM team|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Overall student workload
Independent Study Hours: 117
Lecture Hours: 22
Seminar Hours: 11
Methods of Teaching / Learning
The learning and teaching strategy is designed to provide mini-lectures (often including interactive tasks) delivered by the module tutors designed to develop an understanding of underpinning theory and an introduction to academic debates. In addition, a series of student activities and discussions working in groups to explore and apply the mini lecture materials
The learning and teaching methods include:
- Lectures on specific aspects of RM.
- The RevSim simulation in which student groups will simulate running a hotel competitively against other groups.
- Readings, exercises, activities and weblinks in ULearn.
- Industry visiting speakers.
Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.
Programmes this module appears in
|Strategic Hotel Management MSc||2||Optional||A weighted aggregate mark of 50% is required to pass the module|
|International Hospitality Management (EuroMasters) MSc||2||Optional||A weighted aggregate mark of 50% is required to pass the module|
|International Hotel Management MSc||2||Optional||A weighted aggregate mark of 50% is required to pass the module|
Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2020/1 academic year.