Pricing and Revenue Management - Study guide

The objective is to provide understanding and tools of pricing and revenue management. Enhance student´s capabilities to use these methodologies to drive the efficiency, profitability and competitiveness of a service company. The course supports practical business management skills in an international setting with its holistic view to the hospitality and travel industries.

Upon completion of the course, the student is able to
• understand the characteristics of the service industry and the criteria for use of revenue management
• identify and analyze important KPIs (key performance indicators) and measurements of revenue management
• understand and apply different models and tools of pricing and revenue management
• distinguish between strategic and tactical pricing and revenue management
• plan and apply a revenue management project for a service provider

Recommended to be studied after the course of Fundamentals of Hospitality, Tourism and Experience, and Financial Accounting.

• the purpose of the use of pricing and revenue management in the service industry
• internal and external measurements of revenue management
• different pricing models and tools
• forecasting revenue and operational expenses through managing supply and demand, pricing, capacity and distribution channels
• plan and apply a revenue project for a service provider

The student understands the basic principles of pricing and revenue management and can list the essential KPIs. Knows the difference between strategic and tactical pricing and revenue management. Can identify the basic needs, elements and tools to be used in the revenue project.

The students understands and can apply the basic principles of pricing and revenue management and can benefit from the essential KPIs. Can discuss the difference between strategic and tactical pricing and revenue management. Can identify the basic needs and select elements and tools to be used in the revenue project.

The students can apply and develop the principles of pricing and revenue management. The student can analyse the essential KPIs and develop the business based the analysis. Can discuss the difference between strategic and tactical pricing and revenue management and implement these. Can independently plan and apply a revenue project based on needs, elements and tools of pricing and revenue management.

Contact teaching and team-work/individual work at school.
Indpendent reading
Team-work

Course material:
Tranter, K., Stuart-Hill, T. & Parker, J. 2008. An Introduction to Revenue Management for the Hospitality Industry. Published in print and as e-publication. Emphasis on chapters 1, 3, 4, 5, 6, 7, 8 and 9. Also found in the library in print version (10 books)

Articles and publications provided during the course.

Benchmarking and case studies STR reports

Haaga Campus

According to set-up in Moodle

English

Benchmarking

27.03.2023 - 19.05.2023

Exam of calculations (30 points) Midterm Quiz, (20 points) Course assignment (50 points) Total 100 points

02.01.2023 - 24.03.2023

According to set-up in Moodle

RZ21SH
EXCH
CONTACT

Work&Study

Pekka Heikkilä, Anna-Liisa Aarti

15 - 40

Evaluation table: 40-54 p. = 1, 55-66 p. = 2, 67-78 p. = 3, 79-90 p. = 4, 91-100 p. = 5.

HOTEM Degree Programme in Hospitality, Tourism and Experience Management

0.00 cr

H-5