UNDERSTANDING HOTEL REVENUE MANAGEMENT - 2023/4

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 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 simulation activity.

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate a full understanding of the subject matter.

 

For the Group Assignment students write a report that identifies the strategy they adopted as a team in managing their Simulation hotel.

 

This tests learning outcomes 1, 2, and 3.

 

The individual coursework will test students’ understandings of various concepts about hotel revenue management, and skills of practical applications.

 

This tests learning outcomes 1, 3, and 4. The coursework will also help the students apply analytical and technological skills.

 

Thus, the summative assessment for this module consists of:

 

1. The group 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 software. Report should analysis of the simulation data and learning outcomes recognised with recommendations made. This is a summative assessment.


2. An individual Coursework testing the students ability to analyze data, use of data software in able to make conclusive strategic decisions in line with revenue management teachings.

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 any 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 book and additional SurreyLearn materials (handouts, weblinks, Powerpoints, and etc.).

Students will also be put into groups to participate in the RateSim simulation wherein they make revenue management decisions over a four week period. They will receive weekly feedback on this activity.

The learning and teaching methods will include lectures and seminars

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

Surrey's Curriculum Framework is committed to developing students with strengths in Employability, Digital Capabilities, Global and Cultural Capabilities, Sustainability and Resourcefulness and Resilience. This module is designed to allow students to develop knowledge, skills and capabilities in the following areas: 

Digital Capabilities: Learning to navigate the RateSim Simulation and SurreyLearn, is an essential part of the module. Teaching and learning materials are provided in a number of formats (e.g. captured content, documents, mock calculation, Excel workbooks etc), and students are encouraged to use various methods for communication. Students also works with Excel spreadsheet for their weekly group tutorials and other exercise which helps them familiarizing themselves with functions and formats of the software. 

Employability: This module provides students with a working knowledge of key conceptual foundations for critically analysing revenue management data, equipping students to use their knowledge of the topic to make strategic, technical and operational business decisions in the service industry with the aim to optimize revenue. This knowledge and decision-making skills will naturally be developed over time with more experience in their career This module continues to build on the ability to critically analyse data with the aim to develop pricing, distribution and inventory control decisions.

Global and cultural understanding: In this module, students are informed of different revenue management practices that are impacted by various global consumer behavior. As such, students develop global and cultural understanding in terms of purchase behavior in different countries outside the UK and how decision making needs to be evolved accordingly.

Resourcefulness and Resilience: This module equips students by using practical examples and exercises to critical analyse and interpret revenue management data that is key to understanding the financial performance and management of any service business and making strategic, technical and operational business decisions. This allows students to build resourcefulness and resilience in developing a problem-solving mindset through financial accounting problems and risks in the context of service businesses. 

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 2023/4 academic year.