Pricing and Revenue Management

Catalog description

Revenue Management and Pricing focuses on how firms should manage production capacity, resources and product availability policies across different selling channels in order to maximize performance and profitability. This course will provide the students with an overview of the revenue management principles and pricing strategies that are used throughout the hospitality and other service-related industries including but not limited to hotels, restaurants, airlines and event centers. This course provides an introduction to both the theory and the practice of revenue management and pricing with an objective to prepare students to evaluate and recommend revenue management strategies. Course explores strategic pricing, perceived value, differential pricing, inventory and price management, demand forecasting, competitive set analysis, distribution channel management and evaluation of revenue management practices. The course explains and applies key business involved in managing a profit or nonprofit hospitality and other service enterprises.