Tourism and Hospitality Revenue Management
Credit points
(Generally, 1 credit = 10 hours of classes and independent study.)
Location
Prerequisites
BEO1000 - Business Data Analytics and Visualisation; or
APP2014 - Psychology 2B (applicable for ABPB students ONLY)
(Or equivalent to be determined by unit coordinator)
Co-requisites
(Corequisite units must be studied concurrently with this unit)
Overview
Discover the industry’s internationally used analytics to predict consumer behaviour and pricing strategies within Tourism and Hospitality Revenue Management.
Examine technologically driven approaches and their impacts on the industry.
Explore, through case studies and state-of-art on-line business simulation environment, the importance of strategic communication and the role of the revenue manager.
As a revenue manager, you will lead the development and implementation of the organisation’s revenue management strategies and processes in order to maximise revenue.
Learning Outcomes
On successful completion of this unit, students will be able to:
- Critically review the role and importance of revenue and yield management and evaluate models, pricing and rate management strategies used by organisations to maximize revenue and yield;
- Critically reflect upon the role and function of the revenue manager and revenue management in terms of its component parts, strategic factors and critical considerations;
- Appraise, recommend, and manage analytical operational tools and procedures appropriate to solve complex and unpredictable problems in businesses and support the long term strategic directions of organisations; and,
- Work collaboratively in teams to apply, to examine the evolution of revenue and yield management and present a broad and coherent body of knowledge grounded in current literature on current and emerging practices.
Assessment
For Melbourne campuses
Assessment type: Test | Grade: 10%
Online multiple choice and short answer quiz
Assessment type: Case Study | Grade: 30%
Simulation case study
Assessment type: Report | Grade: 30%
Business report (Group)
Assessment type: Presentation | Grade: 30%
Group presentation including peer-evaluation (10%)
Required reading
Students will have access to required readings via VU Collaborate and are not required to purchase the listed textbook.
Hospitality Revenue Management, Concepts and Practices
Peter Szende (2021) | Apple Academic Press Inc.
As part of a course
This unit is not compulsory for any specific course. Depending on the course you study, this unit may be taken as an elective.