HOTEL REVENUE MANAGEMENT - 2017/8
Module code: MAN3094
Hospitality & Tourism Management
PARK S Dr (Hosp & Tour)
Number of Credits
FHEQ Level 6
Module cap (Maximum number of students)
Overall student workload
Independent Study Hours: 117
Lecture Hours: 22
Seminar Hours: 11
|Assessment type||Unit of assessment||Weighting|
|Coursework||GROUP ASSIGNMENT (1500 WORDS)||50%|
|Examination||2 HOUR EXAM (CLOSED BOOK)||50%|
Group assignment will be replaced by requiring an individual assignment that covers aspects of the RevSim activity.
Prerequisites / Co-requisites
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.
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.
|Explain the definition of revenue management and understand important concepts to make revenue management successful in the hotel business||K|
|Understand the individual roles of different members of an hotel's revenue management team||KC|
|Evaluate how revenue management affects the performance of a hotel operation||KC|
|Make revenue management decisions that improve hotel performance||PT|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
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
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 10 weeks
2 hours guest speech x 1 week
1 hour tutorial x 11 weeks
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:
First summative assessment
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:
The exam will be in two parts. The first part will be 20 multiple choice questions (each worth 1% of the exam). All of these questions will have previously been included in the weekly quizzes. The second part will be four short answer questions (each worth 20%).
Formative assessment and feedback
Students will receive feedback on their weekly performance via the message tool in RevSim as well as weekly-basis tutorials. In addition, students will obtain feedback for their first and second assessments by SurreyLearn.
Reading list for HOTEL REVENUE MANAGEMENT : http://aspire.surrey.ac.uk/modules/man3094
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 2017/8 academic year.