HOSP 229 - Revenue Management: Maximizing Revenue in Hospitality Operations

1. Explain the concept of revenue management and the history of its development.
2. Identify the business traits that create the environment appropriate for the use of revenue management.
3. Distinguish between strategic and tactical revenue management.
4. Identify internal and external measures that can be used to evaluate a property’s performance.
5. Discuss the challenges that managers have in determining the effectiveness of revenue management tactics and strategies.
6. Explain how forecasting demand and room availability drives tactical revenue management.
7. Identify ways to implement tactical rate management and stay controls to maximize hospitality revenue.
8. Define capacity management and how to use it for revenue management.
9. Perform and use displacement analysis.
10. Explain how revenue management plays a role in generating demand and creating marketing strategies for a hospitality property.
11. Explain how strategic pricing and revenue streams management contribute to revenue management efforts at the strategic level.
12. Identify opportunities for strategic packaging and ways to manage distribution channels for the greatest effect.
13. Describe the capabilities of automated revenue management systems.

• Hospitality revenue management
• Controls to maximize hospitality revenue
• Strategic and tactical revenue management
• Forecasting demand and room availability

 
Course Addendum - Syllabus (Click to expand)