FAB 455 - Applied Revenue Management

Credits: 3

Description
Revenue management is the process of offering the right product to the right customer at the right time for the right price. Revenue Management is critical to the hospitality industry due to the perishable nature of a service based product. The fundamental principles and concepts of revenue management that we will cover in this course are capacity management, duration control, demand and revenue forecasting, discounting, overbooking practices, displacement analysis, channel management, and pricing execution.

Student Learning Outcomes

Describe the components of revenue management and pricing.
Explain the benefits of revenue management.
Develop demand and revenue forecasts and measure their accuracy.
Apply tools and techniques to make revenue management decisions in a simulated environment.

Prerequisite: FAB 305
Corequisite: None

Graded: Letter Grade