HRTM71-205: Revenue Management

Revenue Management is used in service organisations to enable prices to be set strategically; optimise the management of inventory; and sell more strategically to maximise revenue and profitability. An understanding of revenue management practices will enable students to apply data-based decision making to answer important questions such as what to sell, when to sell, whom to sell to and at what prices.  Students will learn about the role of revenue management specifically in the hotel and tourism industries and discover how this role interacts with, and is influenced by, other departments within an organisation to optimise revenue outcomes. Students will put their skills in revenue management into practice as they work in teams to manage a simulated hotel using the Hotel Operations, Tactics and Strategy (HOTS) system. They will implement revenue management and other operational decisions as they aim to meet their goals to improve the performance of the hotel.