ADVANCED REVENUE MANAGEMENT - 2022/3

Module Overview

This module is designed as a continuation for students who had previously studied Revenue Management in the previous year. The aim is to take the key principles of Revenue Management previously taught and to expand on them substantially to add depth of knowledge, Skills in Revenue management and to have the ability to form short and long term strategies based on analysis, forecasting and market demand. From a programme perspective, this module will provide the key skills needed for any student interested in undertaking this key area further in their career.

Module provider

Hospitality & Tourism Management

Module Leader

GANBERT Sylvia (Hosp & Tour)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 6

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

Module Availability

Semester 1

Prerequisites / Co-requisites

Must have taken MAN2161 Understanding Hotel Revenue Management in the Second year

Module content

Indicative content includes:
• The role of technology in Revenue Management
• Forecasting tools and methods
• Market awareness, segmentation and identifying trends
• Demand driven decision making
• Gathering data and producing a manual forecast
• Understanding demand levers
• Pick-up, wash, pace
• Assessing business on the books
• Market testing and evaluation
• Understanding variances and amending a forecast / Budget
• Change Management

Assessment pattern

Alternative Assessment

n/a

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate analytical abilities combined with the knowledge and understanding of Revenue management. 

Assessment 1 - Summative - A individual report based on a case study hotel evaluating the market demand and internal / external aspects of the business environment

Assessment 2 - Summative - An individual report utilizing the same case study hotel to generate revenue management strategies 

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
• To provide students with an understanding of the data needed to produce a forecast as well as the methods of forecasting
• Provide students with the ability to analyse data to make effective pricing, inventory & distribution decisions
• Help students evaluate market trends, pace, demand generators & drainers and to make subsequent decisions accordingly
• Help students understand the role of analysis in strategic decision making

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 have multiple opportunities to participate in the Analysis & Forecasting with the use of Case Studies wherein they make revenue management decisions over a period of time. Formative feedback is consistently provided during class. The learning and teaching methods include: 2 hours lecture x 11 weeks plus1 hour seminar x 11 weeks Teaching Approach Lectures on theoretical underpinning. Outside guest speakers on practical application will be incorporated within this module. 

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: MAN3167

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 2022/3 academic year.