Revenue Management (Taught in Spanish)
Universidad de Barcelona
Area of Study
Business, Hospitality and Tourism Management
High Intermediate, Advanced
*Property Management (Gestión de alojamiento) or a similar U.S. course equivalent.
Recommended U.S. Semester Credits3
Recommended U.S. Quarter Units4
Hours & Credits
The globalization trend in markets and the international economic climate have contributed to creating a highly competitive environment in the international service market.
In this type of situation, all fields of management become key in order to guarantee the success and survival of an organization. The correct definition and creation of the product, marketing management (strategic and operational), human resources management, financial management, etc. will all have an effect on the final business outcomes.
For service companies, the need to optimize sales of limited-life assets is a reality in which Revenue Management intervenes with the aim of maximizing revenue.
In this course, the student has the opportunity to familiarize himself with the basis and foundations of the system, through the presentation of essential information on key aspects for its management and the practical treatment of each of these points.
Through presenting universal cases that apply the techniques of Revenue Management, the student will learn to analyze a product and/or service, identify the need to "be experts in demand" (evaluate customer segmentation and knowledge, the customer's needs and his purchase process), with the aim of adjusting the sales process (prices, channels, availability of products and characteristics, etc.) at all times, in order to maximize revenue (maximize productive capacity).
Make decisions and solve problems, interpreting and evaluating the results with a critical attitude.
Perform an analysis of the results obtained from the decision-making process in order to solve any problems.
Have the motivation to understand and satisfy customers' needs (internal and external) when offering them services and/or products, keeping in mind all aspects of the relationship, responding to their requests and suggestions and, if possible, anticipating their needs and requests, providing an immediate, appropriate solution.
Know and use information and communication technologies, as well as associated management systems:
Information and communication technologies (ICTs) and tourism have a symbiotic, dynamic relationship. ICTs are a critical element for the tactical and strategic management of the tourism business unit; without them, the current level of development could not have been achieved. Computer Reservation Systems (CRS) and Global Distribution Systems (GDS) are good examples of the importance of technology in the distribution and management of tourism activity.
Market tourism products, services, and projects:
The unique nature of the tourism sector due to its intangibility, inseparability and variability requires specialists in tourism marketing who can adapt strategies to the special features of tourism operations. Furthermore, these specialists must be able to apply elements of the marketing mix to the variety of contexts in the sector, understanding the customer's behavior, and identifying and using the most appropriate distribution and promotion methods.
- Define the problem or situation in order to make a decision:
- Understand the applicability of revenue management to the tourism sector and, specifically, to the management of accommodation and restaurant establishments.
- Know how to calculate and analyze those indicators which provide the necessary information for revenue management.
- Create and make use of action alternatives to solve problems, anticipating the consequences of each alternative:
- Collect the necessary information to be able to establish reasonable action alternatives.
- Identify decision making criteria and choose an alternative based on these criteria.
- Ability to work towards objectives.
- Create products and services for customers that generate added value:
- Create and define products and services based on knowledge about the customer (needs and expectations), with the aim of providing added value.
- Establish prices based on knowledge about the customer (sensitivities).
- Establish systems to supervise the evolution of tourism activity.
- Develop the student's motivation to establish systems that allow them to understand the customers' needs, their suggestions for improvement and their complaints regarding service. This implies periodically comparing the attributes of the tourism product or service with the real needs of customers:
- Develop the student's motivation to establish systems that allow them to understand the customers' needs and their suggestions for improvement.
- Constantly review operating systems to reach a business excellence model which is highly competitive and focused on customer satisfaction.
- Identify business opportunities by observing the market and analyzing primary and secondary information:
- Understand trends and dynamics of sales in the tourism market.
- Identify the sales networks in which an organization is located and know how to analyze them and position the organization.
- Manage tools for hospitality marketing, revenue management, e-marketing, web 2.0:
- Have an innovative, forward-thinking and proactive vision.
- Establish links between the use of revenue management techniques and other innovative marketing tools that may help achieve sales objectives.
- Have a progressive view of hospitality marketing:
- Understand the determining factors that have caused changes both in the behavior of customers and of service companies in the marketing sphere.
- Encourage the student to strive to optimize the most current resources.
- Understand the role of ICTs in operational procedures in accommodations companies:
- Provide the student with criteria to evaluate the ability of new technologies to help manage sales and decide whether to apply them or not.
- Identify the ICTs that can be used in marketing and in revenue management and evaluate their usefulness according to the company's characteristics.
The learning strategies employed are mainly aimed at the student developing the abilities associated with the skills identified. Below we specify the teaching-learning methodologies which will be applied to achieve the skills to be gained, as well as specifying how they will be developed:
- Theory: master classes, lectures, group projects.
- Theoretical-practical: application activities, problem-based learning, problem solving, practical exercises, research.
- Presentations: presentations of results. This will allow the student to receive feedback on how to improve his or her oral communication techniques and become accustomed to using information technology.
The tools used to evaluate the course are those which allow us to assess the course's contents in both a theoretical and practical way; such as objective tests, development tests, individual projects, group projects, in-class activities, oral presentations using IT, virtual forums, portfolios, practical cases, problem solving, etc.
Courses and course hours of instruction are subject to change.