Strategic Pricing and Revenue Management

Bond University

Course Description

  • Course Name

    Strategic Pricing and Revenue Management

  • Host University

    Bond University

  • Location

    Gold Coast, Australia

  • Area of Study

    Hospitality and Tourism Management

  • Language Level

    Taught In English

  • Prerequisites

    Students must have successfully completed HRTM12-203 Rooms Division Management or equivalent prior to undertaking HRTM12-205

  • Course Level Recommendations

    Upper

    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Credit Points

    10
  • Recommended U.S. Semester Credits
    3 - 4
  • Recommended U.S. Quarter Units
    4.5 - 6
  • Overview

    Introduction
    The focus of this subject is on hospitality industry pricing strategies and revenue management. This subject combines elements of yield management, technology, and data collection to produce an interactive approach to managing return. The financial methods for determining pricing structures and revenue optimization form the basis of the subject. Topics include pricing theory; marginal return measures; Rev Par; and competitive analysis.

     
    Learning Objectives
    1. Conduct a competitor analysis and internal assessment of approaches to pricing for relevant hospitality market segments.
     
    2. Develop occupancy forecasts for the hospitality operation.
     
    3. Explain the various pricing and rate management strategies used by hospitality operators to maximise revenue.
    4. Analyse the effectiveness of the pricing and revenue management strategies of selected hospitality operations.
     
    5. Develop strategies to maximise revenue for hospitality businesses.
     
    6. Calculate key revenue related operating statistics in hospitality.
     
    7. Implement management decisions which aim to maximise performance outcomes within a simulated hotel environment