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TOUR8009 - Revenue Mgt & Distribution

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Title:Revenue Mgt & Distribution
Long Title:Revenue Mgt & Distribution
Module Code:TOUR8009
 
Duration:1 Semester
Credits: 5
NFQ Level:Advanced
Field of Study: Tourism
Valid From: Semester 1 - 2017/18 ( September 2017 )
Module Delivered in 2 programme(s)
Module Coordinator: Noel Murray
Module Author: PHILIP MURRAY
Module Description: This module provides the rationale, theory and practical application of Revenue Managment and the Distribution of tourism products, which seeks to maximise the revenue and profit generated by the limited capacity associated with service and tourism businesses.
Learning Outcomes
On successful completion of this module the learner will be able to:
LO1 Appraise the need for and nature of revenue management (RM) in service industries.
LO2 Describe the influence of the customer and of organisational culture on the RM process.
LO3 Validate the theory and practice of demand calculation, pricing and forecasting for revenue management implementation.
LO4 Manage the distribution function of any service business to maximise the generation of both core and ancillary revenues.
LO5 Devise and implement a revenue management strategy for any suitable tourism or service business.
Pre-requisite learning
Module Recommendations

This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named MTU module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).

Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module. You may not earn additional credit for the same learning and therefore you may not enrol in this module if you have successfully completed any modules in the incompatible list.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
Requirements

This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section.

No requirements listed
 

Module Content & Assessment

Indicative Content
Introduction to Revenue Management (RM)
Definition, history and development of RM. Necessity & suitability of RM for service organisations. RM ingredients and introduction to strategic levers
Segmentation and RM
Rationale for segmentation. Calculating optimum guest mix. Issues of Trade-off and customer displacement in RM. Calculating lifetime value of guest
RM Implementation
Steps in RM implementation, barriers to implementation. Role of front-line staff, customer service & RM
Pricing
Rate Fences, factors affecting price levels. Value, trust and perceived fairness in RM. Pricing Models
Distribution and Channel Selection
Introduction to distribution in tourism, online v's offline distribution, calculating channel profitability and the importance of channel mix.
Forecasting Demand & Overbooking
Compiling Data and calculating demand levels. Accurate forecasting. Trend Analysis. Overbooking: Theory & Practice. Big Data & the Revenue Function
RM Strategies & Tactics
Use of case-study to observe "real-world" RM application
RM in Tourism / Service Industries
Application to Airlines, Hotels, Tourist Attractions, Golf Club Managment, Restaurants, Conference and Event Management
Assessment Breakdown%
Course Work30.00%
End of Module Formal Examination70.00%
Course Work
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Written Report Revenue Management Case Study 1,2,3,4,5 30.0 Week 6
End of Module Formal Examination
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Formal Exam End-of-Semester Final Examination 1,2,3,4,5 70.0 End-of-Semester
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

The institute reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Theory and Practice 4.0 Every Week 4.00
Independent & Directed Learning (Non-contact) Independent Reading and Study 3.0 Every Week 3.00
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 4.00
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Theory and Practice 4.0 Every Week 4.00
Independent & Directed Learning (Non-contact) Independent Reading and Study 3.0 Every Week 3.00
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 4.00
 

Module Resources

Recommended Book Resources
  • Ian Yeoman & Una McMahon-Beattie (Eds) 2011, Revenue Management and Pricing: A Practical Pricing Perspective, Palgrave MacMillan London [ISBN: 978-0-230-294]
  • Kimberly A. Tranter, Trevor Stuart-Hill, Juston Parker 2014, An introduction to revenue management for the hospitality industry, Pearson Education Limited Upper Saddle River, N.J. [ISBN: 9781292027159]
Supplementary Book Resources
  • Gabor Forgacs, 2010, Revenue Management Maximizing Revenue in Hospitality Operations, American Hotel & Motel Association [ISBN: 0866123482]
  • Talluri, Kalyan T. 2004, The Theory & Practice of Revenue Management, Kluwer Academic Boston, Mass [ISBN: 978-0-387-24376-4]
Recommended Article/Paper Resources
  • Ian Yeoman On-line Journal, Journal of Revenue and Pricing Management [ISSN: 1477-657X]
  • Cornell Quarterly, Cornell Hotel and Restaurant Administration Quarterly
Other Resources
 

Module Delivered in

Programme Code Programme Semester Delivery
CR_OHOMA_8 Bachelor of Business (Honours) in Hospitality Management 1 Mandatory
CR_FTRSM_8 Bachelor of Business (Honours) in Tourism Management 7 Mandatory

Cork Institute of Technology
Rossa Avenue, Bishopstown, Cork

Tel: 021-4326100     Fax: 021-4545343
Email: help@cit.edu.ie