Hospitality Analytics and Revenue Management

This course introduces students to the analytical tools and strategies used to maximize revenue and profitability in the hospitality industry. The course covers key concepts such as pricing strategies, demand forecasting, inventory management, and market segmentation. Students will learn how to leverage data and analytics to optimize room rates, manage occupancy, and improve decision-making processes. The course emphasizes the role of technology and data-driven approaches in enhancing revenue management practices, ensuring that businesses remain competitive and financially sustainable.

Upon successful completion of this course, students will be able to:

• Understanding Revenue Management Principles: Students will gain a comprehensive understanding of revenue management concepts, including dynamic pricing, demand forecasting, and market segmentation, and how they are applied in the hospitality industry to maximize profits.
• Utilizing Hospitality Analytics: Learn how to use data analytics tools and techniques to analyze market trends, forecast demand, and optimize pricing and inventory decisions, ensuring operational efficiency and revenue growth.
• Implementing Pricing and Inventory Strategies: Gain proficiency in creating and managing pricing strategies, including rate setting and inventory control, to balance supply and demand, enhance occupancy rates, and increase overall profitability.
• Evaluating Revenue Management Performance: Develop skills in evaluating and assessing the performance of revenue management strategies through key performance indicators (KPIs) such as RevPAR (Revenue Per Available Room), ADR (Average Daily Rate), and occupancy rates, ensuring continuous improvement and financial success.

These outcomes aim to prepare students for roles in revenue management, financial analysis, and strategic planning within the hospitality industry, equipping them with the knowledge and skills to make data-driven decisions that enhance profitability and competitive advantage.