A simulation approach to hotel revenue management training. Issue 5 (19th October 2018)

• Record Type: Journal Article
• Authors: Cox, Carmen
• Is Part Of: Journal of revenue and pricing management. Volume 17:Issue 5(2018)
• Page Start: 356
• Page End: 364
• Publication Date: 2018-10-19
• Subjects: Revenue management -- Training -- Hotel management -- Business simulation -- Student learning outcomes; Revenue management -- Periodicals; Pricing -- Periodicals; 338.5205
• DOI: 10.1057/s41272-018-00159-1
• Languages: English
• ISSNs: 1476-6930

Abstract

Abstract Developing well-rounded revenue management professionals is a key challenge for the hotel industry. Traditional approaches toward revenue management training have typically developed sound technical expertise without developing other important business skills. Simulations have been advocated as a solution to deliver holistic revenue management education. This paper aims to identify the learning outcomes achieved through a simulation-based revenue management training program. It reports the learning outcomes of students engaged in a hotel revenue management simulation. Thematic analysis reveals six sets of critical learning outcomes: revenue management strategy; hotel operational knowledge; decision-making ability; value of teamwork; communication skills; and personal readiness for the workforce.