Value Creation in HospitalityLaajuus (5 cr)

Learning objectives

Upon successful completion of the course, the student
• Understands the role of ever-evolving customer expectations in the Hospitality value creation chain
• Understands how pricing is not just a technical rate-setting exercise, but mastering the key drivers behind the pricing decisions
• Knows how to evaluate and use the right distribution channels to reach the right customers in the most profitable manner
• Understands how traditional Revenue Management practices have reached their limits and how the future expectations are shaping the discipline
• Understands the role of data, Customer and Business Intelligence and how it is becoming one of the key elements of any successful and profitable hospitality operation.

Contents

• advanced customer segmentation and insight
• how strategic pricing and distribution choices are driving the value of the company
• Total Revenue Management is key for profitable business
• How data is driving decisions - You can’t develop what you cannot see

Lähtötaso ja sidonnaisuudet muihin opintojaksoihin

No prerequisites.

Implementation methods, demonstration and Work&Study

This course includes six modules and under each module, there is a number of valuable and insightful video lessons. Students work independently and in a self-directed manner according to the course timetable. Each Module includes a quiz.

Assessment criteria - grade 1

When the implementation type of the course is CONTACT, ONLINE or BLENDED it is required that the student is present during those teaching hours that are marked in the study schedule. If you are absent more than 25 %, your grade will be lowered by one. If you are absent more than 50 %, the course is failed.

The student is familiar with the basics of hospitality companies value drivers. Student identifies key concepts, processes and tools of value creation in Hospitality. Student identifies opportunities for driving value and areas for development in an organization.

Assessment criteria - grade 3

The student is able to design solutions that benefit business based in theories of customer segmentation and revenue management. Student can utilize key concepts, processes and tools related to customers, revenue management and distribution when justifying own choices to practical business needs. Student can evaluate and develop value creating processes and activities for the internal and/or external needs of an organization.

Assessment criteria - grade 5

In addition to the criteria above, the student can critically evaluate and develop concepts, processes and knowledge related to value creation in Hospitality. Student can integrate value driving perspectives into the company’s business planning and management processes in different contexts. Student is able to identify key stakeholders in terms of value creation and management and to justify strategic choices and prioritize activities in a stakeholder-driven manner. The student has professional project like approach to learning and stays on schedule.

Learning materials

Course materials are included into Online modules