Revenue management in tourism

BRIEF COURSE DESCRIPTION
Revenue Management is a part of the operational stage of marketing. This subject aims to help students how to use, in an appropriate way, the tools that help organizations to respond to customer expectations, as well as attaining maximum business profitability. The subject prepares students to efficiently manage business and tourist destinations through the optimization of income resulting from the sale of inventory, focusing on demand control, efficient capacity management and price determination based on elasticity.

LEARNING OBJECTIVES
1. Know the processes of planning and organizing events and major events such as fairs and conferences
2. Use tourism marketing tools: Revenue Management, e-marketing, web2.0.
3. Prepare reports assessing the trend of the results obtained and the evolution and expectations of service prices, according to internal economic information and market needs.

ACADEMIC CONTENTS
1. Introduction and fundamentals of Revenue Management in Tourism
1.1. The definition of Revenue Management
1.2. The origins of Revenue Management
1.3. The fundamentals of Revenue Management
1.4. The basics of Revenue Management
1.5. In which sectors can we apply Revenue Management?
2. Competition
2.1. Competitive set
2.2. Competitive analysis
2.3. Rate shopping
2.4. Key metrics
3. Market segmentation
3.1. The importance of market segmentation
3.2. How to segment the market
3.3. Market mix strategy
4. Forecasting demand
 4.1. The importance of forecasting
4.2. How to build a forecast
5. Inventory management
5.1. Demand generators
5.2. Pick up and booking curve analysis
5.3. Managing inventory
6. Pricing
6.1. Pricing fundamentals
6.2. Price discrimination
 6.3. Dynamic pricing
6.4. Optimizing the products / services
6.5. Pricing strategies
7. Channel management
7.1. The importance of Distribution channels
7.2. Which are the channels used in different sectors?
7.3. Managing distribution channels

LEARNING METHODOLOGY
The learning methodologies planned for the subject combine a number of processes being the most remarkable the cognitive methods related to the comprehension of the principles of tourism and the global tourism system as well as the inclusion of a set of skills, mainly technical. The activities and methodologies -both group and individual- designed for this subject are the following:
• Lectures
• Practical exercises
• Project-based learning
• Cooperative learning

ASSESSMENT SYSTEM