STRATEGIC REVENUE MANAGEMENT - 2024/5
Module code: MAN3167
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.
Hospitality & Tourism Management
GANBERT Sylvia (Hosp & Tour)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 6
JACs code: N862
Module cap (Maximum number of students): N/A
Overall student workload
Independent Learning Hours: 105
Lecture Hours: 22
Seminar Hours: 11
Guided Learning: 11
Captured Content: 1
Prerequisites / Co-requisites
To have undertaken MAN2161 Understanding revenue management in the second year. For exchange students or other queries, there maybe an opportunity to undertake this module if approved by the module leader. This is case by case basis.
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 type||Unit of assessment||Weighting|
|Coursework||CW1 - INDIVIDUAL ASSIGNMENT (2000 WORDS)||50|
|Coursework||CW2 - INDIVIDUAL ASSIGNMENT (3000 WORDS)||50|
The assessment strategy is designed to provide students with the opportunity to demonstrate analytical abilities combined with the knowledge and understanding of Revenue management.
Thus, the summative assessment for this module consists of:
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
- 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
|001||Explain the principles & Practice of Revenue Management and understand important concepts to make revenue management successful in the hotel business||CK|
|002||Understand the individual revenue generating streams in a full service hotel||CK|
|003||Evaluate how revenue management affects the performance of a hotel operation through key inventory, pricing and distribution decisions||CKT|
|004||Analysing historical and pick-up data to make revenue management decisions that improve hotel performance||CKT|
|005||Make key forecasting decisions with follow up strategic decisions for market segments, pricing and distribution||KPT|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Methods of Teaching / Learning
The learning and teaching strategy is designed to:
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, Excel workbooks 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: lectures and seminars 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.
Upon accessing the reading list, please search for the module using the module code: MAN3167
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 excel software 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 calculations, data sheets, 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.
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 2024/5 academic year.