LM2S22 - Strategies for Revenue Management 01 Sep 2017 - 31 Aug 2027 | Version 1
Associated Module Information
| Module Code: | LM2S22 | ||
|---|---|---|---|
| Module Title: | Strategies for Revenue Management | ||
| Faculty: | Faculty of Business and Creative Industries | ||
| Faculty Group: | Leadership and Public Services | ||
| Faculty Sub Group: | Leadership and Public Services | ||
| Module Leader: | Tina Thomas | ||
| Module Team: | David Phillips, Sarah Campbell, Laurence Blake | ||
| First Intended Intake: | SEP 2017 | Final Year of Intake: | |
| Date Closed: | |||
| Credit Value: | 20 | Credit Level: | 5 |
| Language: | English | ||
| Percentage of Module Taught in Welsh: | 0 | ||
| Equivalent Module: | |||
| HECOS codes: | 100084 - hospitality management | ||
| HECOS Code Weighting: | 100 | ||
Document Version Information
| Version | 1 |
|---|---|
| Valid From | 01 Sep 2017 |
| Valid To | 31 Aug 2027 |
Module Aims
The module aim is:
To provide the skills to make strategic decisions about revenue and managing occupancy, pricing, and marketing.
Content Summary
Hotel revenue management is an increasingly vital function and involves a coordinated effort across the organisation. Hotels can increase revenue by balancing demand, reservation scheduling and variable pricing. It is essentially selling the right room to the right person at the right time for the right price.
This module employs a simulation exercise that focuses primarily on pricing, advertising, and revenue forecasting as the prime decisions. Market and rate strategies are analysed through case studies.
Learning and Teaching Methods
| Activity Type | Hours |
|---|---|
| Lecture | 24 |
| Seminar | 24 |
| Directed Study | 80 |
| Formative Assessment - Scheduled | 36 |
| Formative Assessment - Independent | 36 |
| Total Hours Selected | 200 |
Learning Outcomes
| # | Learning Outcome |
|---|---|
| LO1 | Demonstrate a critical understanding of the role of strategy in effective revenue management. |
| LO2 | Critically analyse the high impact drivers for maximising revenue, including forecasting and availability controls, pricing and distribution channel management, overbooking and group management. |
Module Requisites
N/A
Assessment Criteria
| Assessment Category | Assessment Type | Description | Duration | Word Count | Weight (%) | Best of? | Pass Mark |
|---|---|---|---|---|---|---|---|
| Asynchronous Assessment | Self Reflective Assessment 1 | Reflective account of the simulation exercise – decisions made and their impact, pricing strategies employed, use of data to forecast. | 0 | 3000 | 60 | No | 40 |
| Synchronous Onsite Oral Assessment | Presentation (Synchronous Onsite) 1 | Presentation of results to hotel’s GM, with rationale and discussion of results/ strategies employed | 15 | N/A | 40 | No | 40 |
Assessment Matrix
| Assessment Type | Learning Outcomes | ||
|---|---|---|---|
| LO1 | LO2 | ||
| Self Reflective Assessment 1 | ✔ | ✔ | |
| Presentation (Synchronous Onsite) 1 | ✔ | ✔ | |