HMG6466 Summer2019 Syllabus Hospitality Revenue Management-1

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Course Syllabus HMG6466 Hospitality Revenue Management Summer 2019 Professor: Dr. Howook “Sean” Chang, DBA Email: [email protected] Office: HM322 Tel: (305) 919-4535 When and where do w... e meet?  Course Duration: 06/17- 07/26/2019  Hybrid Class Schedule: M/W 01:30 - 03:05 PM at HM 365 & Online on Friday  Dr. Chang’s Office Hours: M/W 03:10-4:10 PM, or by appointment Important Dates  Last Day to Drop (Withdraw) with DR(WI) grade: Monday, 7/15/2019  Tentative Final Exams Schedule: o Predictive Analytics in MS Excel Exam:  Monday, 01:30 PM – 03:30 PM on 7/22/2019 o Hospitality Revenue Management Final Exam on paper  Wednesday, 01:30 PM – 03:30 PM 7/24/2019  Do not plan on a personal trip during the final exam date. No early or late exam will be given.  Academic Calendar: https://onestop.fiu.edu/academic-calendar/#summer-2019 Why should you care about Revenue Management? Revenue Management has continued to grow as a science and an art over the past several years in many industries, and especially in the hospitality industry. This course is designed to provide graduate students with an advanced understanding of how changes in room rate impact room night demand and rooms sales. Rooms supply and competition should also be considered when pricing each room. In essence, key elements of Revenue Management should be analyzed; “Selling the right product, to the right customer, at the right time, at the right price, and through the right channel” in order to earn maximum rooms revenue. To learn when, why and how to perform essential analytic tasks for maximum revenue by optimizing each component of Revenue Management, this course introduces quantitative analysis and statistical inference, which is based on the fundamentals of Statistics and Probability. The course also offers the students an opportunity to analyze, interpret, and take advantage of hotel’s property management system (PMS) data to uncover valuable business insights, to solve business problems, and to drive competitive business advantages by using statistical approaches. Along the course, the students are able to attain business analytical and critical thinking skills as well. Coupled with eTextbook, lectures, class activities, assignments, and supplement academic journal articles, the students will be able to obtain knowledge and skills necessary for enhancing their career in the corporate hospitality industr [Show More]

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