REVENUE MANAGEMENT
| Course Code |
MGMT423 |
| Credits |
3.00 |
| Hours / Week |
3 |
Revenue Management (RM) is an emerging area of study in tourism and hotel schools. The goal of revenue management is almost universally described as selling the right product to the right person at the right price, with a view to maximizing the revenues and hence profit of an enterprise. This course provides basic theory and principles which will help students to do this in the real world hotel sector. We are assisted in the delivery of this course through our partnership with the Revenue Management Team at Sands China. The Sands China Team provide a real life project enabling students to develop their theoretical understanding and practical skills.
Course Objectives:
- Explain and apply the principles of revenue management in the hotel sector, including integrated hotel resort complexes.
- Recognize the importance of price and the role of price differentiation in revenue maximization.
- Understand the importance of demand forecasting and the need to utilize historical, current and future data.
- Learn the tools to evaluate the quality of revenue management decision making.
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