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Hospitality - Revenue Management for the Industry

TFHM3004

Programme Description

Revenue Management or Yield Management is a method for managing capacity profitably, selling the right product to the right customer at the right time for the right price.  This module looks at Revenue Management theory, its origins and at the implementation and practice of Revenue Management in the Hospitality Industry.

Content

  • Introduction to Revenue management
  • Defining market segments and evaluating demand
  • Forecasting
  • Optimising demand
  • Pricing
  • Revenue management strategies and tactics
  • Culture of the organisation / Revenue management team
  • Revenue management implementation, measurement & evaluation
  • Computerised Revenue management systems
  • Revenue management & distribution channels
  • Restaurant Revenue management
  • Conference & banqueting Revenue management
  • Revenue management in other sectors
  • Review

Entry Requirements

Under 23 years of age

(a) Irish Leaving Certificate in five subjects.  Results must include:

  • At least OD3 in Irish OR English
  • At least OD3 in Mathematics
  • At least Grade OD3 in one of French OR German

OR

(b) an equivalent qualification

Over 23 years of age

Candidates will be considered on a base by case basis.

Further Information

As the number of places is limited, candidates may be short-listed on the basis of information supplied on the application form. Candidates will be notified of the outcome or of any short-listing procedures.  Applicants will be notified in early September whether the advertised courses will run and informed of the precise schedule of classes.

Examinations

Assessment and examination.

Learning Outcome

On completion the learner will be able to:

  • Understand the main concepts behind revenue management and how RM can improve performance.
  • Outline a Revenue Management implementation process.
  • Discuss how RM can be applied to rooms division, restaurant and conference and banqueting departments.
  • Understand what RM strategies and tactics can be implemented to manage demand.

Career Opportunities

This module will enhance your career opportunities in the Hospitality and Tourism Industry.

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