UNDERSTANDING HOTEL REVENUE MANAGEMENT - 2021/2

Module Overview

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.

Module provider

Hospitality, Tourism & Events Management

Module Leader

GANBERT Sylvia (Hosp & Tour)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 5

Module cap (Maximum number of students): N/A

Module Availability

Semester 1

Prerequisites / Co-requisites

n/a

Module content

Indicative content includes:

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

Assessment pattern

Alternative Assessment

Group assignment will be replaced by requiring an individual assignment that covers aspects of the RevSim activity.

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate For the Group Assignment students write a report that identifies the strategy they adopted as a team in managing their RevSim hotel This tests learning outcomes 1, 2, and 3. The individual final exam assesses students’ understandings of various concepts about hotel revenue management, and skills of practical applications. This tests learning outcomes 1, 3, and 4.

Thus, the summative assessment for this module consists of:

 1. The assessed work will comprise a report that evaluates the revenue management strategy and performance of the hotel. In groups, students will participate in the Revenue Management Simulation RevSim. Report should require each of this section, as follows: Review the market and competitors, conduct SWOT analysis Analyse hotel’s financial performance and marketing costs Review marketing strategy, segmentation and channels of distribution Review pricing strategies and operating performance Coordinate team, post online in RevSim (or delegate others to do so) and oversee presentation of the overview report Second summative assessment:

2.  An Individual exam that will test the student's knowledge, understanding and analytical skills in relation to the topic

Formative feedback

Students receive feedback throughout the semester via face to face teaching which will support them to complete the assessments.

Module aims

• The aim of the module is to equip students with the approaches, tools and techniques that are required by the revenue management team of an international hotel

Learning outcomes

Methods of Teaching / Learning

The learning and teaching strategy is designed to:

Each week students will have a lecture which will be supported by readings from the recommended text and additional SurreyLearn materials (handouts, weblinks, Powerpoints, and etc.). Students will also be put into groups to participate in the RevSim simulation wherein they make revenue management decisions over an eight week period. They will receive weekly feedback on this activity.

The learning and teaching methods include:

2 hours lecture x 11 weeks
1 hour tutorial x 11 weeks

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.

Reading list

https://readinglists.surrey.ac.uk
Upon accessing the reading list, please search for the module using the module code: MAN2161

Other information

n/a

Programmes this module appears in

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 2021/2 academic year.