Strategic Revenue Management
Sign up for this minorAs an NHL Stenden student
All industries are competitive, however, the hospitality and tourism industry is said to be a lot more competitive than most. We are in an industry with very high fixed costs and fluctuating demand. Strategic Revenue Management is the use of optimization methods and marketing tactics, to boost revenues.
The nature of the tourism industry supply chain is changing quickly with online distribution being one of the key drivers of this change. Online Travel Agents have come to dominate the market of hotel bookings and have grown into Global Companies, demanding high commissions, which are used for strategic marketing advantages in Search Engine Optimization. The available tools to optimize distribution, rate setting, promotions, and other marketing tactics are growing and changing rapidly and the gap between hotels that actively practice revenue management and those that don’t as well.
This minor is offered by the study program Hotel Management.
Structure of the minor
Within the minor Strategic Revenue Management, students are exposed to a lot of what South Africa has to offer in terms of Revenue Management. Derek Martin, CEO of TrevPar World, specializes in Revenue Management and schedule-dependent, spends a week in the classroom with the students. Students are also required to submit a module assignment that centres around opening a new hotel's revenue department in central Cape Town, this gives them a great idea as to what exactly is involved from a revenue infrastructure point of view.
- Assessed presentation of revenue infrastructure and strategy
- Students Led Seminars and Design Based Education
- STR Exam -once completed successfully students are awarded a certificate