REVENUE MANAGEMENT - 2017/8

Module code: MANM243

Module provider

Hospitality & Tourism Management

Module Leader

WANG L Dr (Hosp & Tour)

Number of Credits

15

ECT Credits

7.5

Framework

FHEQ Level 7

JACs code

N340

Module cap (Maximum number of students)

N/A

Module Availability

Semester 2

Overall student workload

Independent Study Hours: 117

Lecture Hours: 22

Seminar Hours: 11

Assessment pattern

Assessment type Unit of assessment Weighting
Coursework GROUP REPORT 1500 WORDS 50
Examination 1 HOUR 30 MINUTE CLOSED BOOK EXAM 50

Alternative Assessment

RevSim

Prerequisites / Co-requisites

None

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 aims

The aim of the module is to introduce students to how revenue management is executed and the impact it has on business performance. The module will be approached from the viewpoint of the Revenue Manager, who needs to manage this complex activity with the aid of specialists both inside and outside his or her organisation.

Learning outcomes

Attributes Developed
Explain revenue management and its application in different industry sectors
Comprehend and apply market segmentation
Formulate revenue management policies and decisions
Understand and apply the principles of forecasting and dynamic pricing
Consider and select appropriate distribution channels in managing revenue
Analyse and interpret revenue management data
Explain the role of the Revenue Manager and the RM team

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

Module content

Module Content:


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
RM Implementation

Methods of Teaching / Learning

The learning and teaching strategy is designed to provide mini-lectures (often including interactive tasks) delivered by the module tutors designed to develop an understanding of underpinning theory and an introduction to academic debates.  In addition, a series of student activities and discussions working in groups to explore and apply the mini lecture materials

The learning and teaching methods include:


Lectures on specific aspects of RM.
The RevSim simulation in which student groups will simulate running a hotel competitively against other groups.
Readings, exercises, activities and weblinks in ULearn.
Industry visiting speakers.

Assessment Strategy

The group work applies RM principles and practices through the simulation and requires students to demonstrate their learning through a report on this activity.  The exam tests students’ knowledge and understanding of the subject area, along with the application of this through worked examples.

Reading list

Reading list for REVENUE MANAGEMENT : http://aspire.surrey.ac.uk/modules/manm243

Programmes this module appears in

Programme Semester Classification Qualifying conditions
Strategic Hotel Management MSc 2 Optional A weighted aggregate mark of 50% is required to pass the module
International Hospitality Management (EuroMasters) MSc 2 Optional A weighted aggregate mark of 50% is required to pass the module
International Hotel Management MSc 2 Optional A weighted aggregate mark of 50% is required to pass the module

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.