HM 441 – Revenue Management in Hospitality Industry
Course lecturer :
Dr. Eslam Fathy
Course assistant :
Mr. Hamada Gamal
Course objectives :
Revenue management is key to any business that has relatively fixed capacity, perishable inventory and time variable demand. This course introduces the basics of revenue management in the hotel industry and how to apply pricing and length of stay tools and how to measure your revenue management performance. It is designed to inspire the students to think about revenue management from a focus on occupancy and average room rate to a focus on revenue per available room (RevPAR).
Course description :
this course teaches students how to accurately forecast guest arrivals at hotel establishments, examine pricing models in accordance with revenue management principles and to manage overbooking. All techniques and practices discussed in this course are applicable to a variety of service management roles. This course explores the role of the forecast in revenue management strategy and the positive impact that forecasting can also have on staff scheduling and purchasing. By completing this course students will have compiled detailed notes and recommendations for implementing revenue management at hospitality industry.
Course assessment :
- Final Exam 50 Marks 50%
- Interactive learning (Professional Skills Assessment) 30 Marks 30%
- Mid-Term Exam 20 Marks 20%
Recommended text books :
David k. Hayes and Allisha A. Miller (2011). “Revenue management for the hospitality industry”, John Wiley & Sons, Inc.
Recommended refrences :
1. Ravi Mehrotra and Mr. James Ruttley (2006). “Revenue Management’’, Second Edition, A Technology Primer, the American Hotel and Lodging Association’s, Technology and E-Business Committee
2. StanislavIvanov (2014). HOTEL REVENUE MANAGEMENT FROM THEORY TO PRACTICE, first edition, Zangador Ltd.