SPRING 2015
SUSTAINABLE TOURISM AND HOSPITALITY
DEPARTMENT OF MARKETING, ENTREPRENEURSHIP, HOSPITALITY, AND TOURISM
REVENUE MANAGEMENT
STH 313 Spring 2015 - 100% Online Version
Instructor
Dr. Bonnie Canziani
UNCG Canvas Course Management System:
https://uncg.instructure.com
Web Resources
Course Guidelines:
1. Check Course every Wednesday for new postings—postings
will be uploaded the week before they are due.
2. Announcements and other messages may also be sent to you,
so check for these daily during the week.
3. Make sure you update your Internet browser so that Canvas
functions properly on your PC
bonnie_canziani@uncg.edu
(E-mail is the most efficient way to contact me.)
Email Rules (PLEASE FOLLOW):
E-mail
Office
Prerequisites:
1. Put STH 313 somewhere in the subject line.
2. Use your UNCG account or email me through the course.
3. Try not to ask me questions that you can answer yourself by
looking at the syllabus or the blackboard site. You should read
and read the Syllabus a couple of times.
4. Don't expect an immediate reply. I usually require a one
business day window but often answer sooner.
5. When replying to one of my emails, please leave all relevant
past information in your reply as part of whole conversation.
Bryan 473, office hours MW 8:30-10 and 11-12 or by appointment
MAT 115; ECO 201
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Spring 2015
UNCG Start Date:
UNCG Last day of classes
Monday, 1/12/2015
Tuesday, 4/28/2015
REQUIRED MATERIALS:
Required textbook is Hayes, D.K. and A. Miller (2011). Revenue Management for the Hospitality Industry,
Hoboken, NJ: John Wiley & Sons, Inc. Note: all work is from textbook so it is mandatory.
CATALOG DESCRIPTION:
This course applies economic principles of demand and supply to sustainable hotel and resort revenue
management, addressing sources of revenue, inventory control, pricing decisions, customer
relationships, and strategic partnerships.
STUDENT LEARNING OUTCOMES:
Upon successful completion of the course, the student should be able to:
1. Discuss the major sources of revenue in the accommodations industry.
2. Identify the economic principles pertinent to revenue management.
3. Compare hotel companies’ revenue management goals and objectives.
4. Compare revenue management across the stakeholder perspectives of owners/asset managers,
general managers, revenue managers, and operations managers.
5. Explain the process of forecasting demand from various sources.
6. Discuss pricing strategies and the influence of multiple factors, e.g., customer attributes,
seasonality, product lifecycle, product features, and bundled services.
7. Explain general room inventory control practices and related decisions, e.g., forecasting estimates
and overbooking levels.
8. Describe customer relations and green and sustainability issues that impact revenue
management.
9. Apply a variety of mathematical approaches to the evaluation of hospitality business
performance.
LESSON PLANS AND SCHEDULE
This course is divided into chapters with practice assignments for credit, applied quizzes based on the
practice assignment concepts and methods, and chapter/readings based tests. Each chapter is
equivalent to a one week normal class time plus the usual expected additional study time UNCG
suggests for each hour of class time. See schedule for further detail on topics and tasks.
Note!!! You will have access to weekly materials each Wednesday (noon) the week before
assignments/quizzes are due, so you have the entire weekend prior to deadlines to work on the course
material plus several weekdays.
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This means you are responsible for time management and using practice assignments to prep for
quizzes. Just because something is due on Friday doesn’t mean you have to wait to study for it or do it
on Friday. Do it earlier in the flexible time I am giving you so you can keep on track.
COURSE DATES/DEADLINES
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Note: the course runs until last day of classes. No work will be accepted after that. There is no
final exam nor any due dates after the last day of classes posted for this semester.
Examine the course schedule carefully. I try to grade efficiently around my other work duties
during the semester and travel and so require work to be submitted on time.
WORK IS ALWAYS DUE ON TIME. You can submit work earlier than assigned due date. I may or
may not have time to grade it early, so that is not a given.
No late work on assignments accepted due to an extremely tight grading schedule that needs to
be followed to get work back to you in a timely fashion.
NOTE: THE STUDENT PROFILE ENTRY MUST BE DONE BY FRIDAY OF FIRST WEEK OF CLASSES, BY
5 pm, TO STAY ENROLLED IN THE COURSE.
EVALUATION AND GRADING:
By reviewing this chart and following explanations, students will know exactly what they are to
accomplish in this class as well as how their grade will be determined.
Assignment/Activity
Description
Student
Learning
Outcomes
Initial student profile
11 practice assignments,
based on textbook (5 pts
each). These may be
modified by instructor at
times to focus on concrete
analysis techniques.
11 applied quizzes based on
learning from practice
assignments and analysis
methods in chapter or from
additional posted materials
(20 pts each).
3 chapter tests on concepts
and essential RM terms in
chapters. Plan on 40 (1pt)
objective and 2 (5pt) essay
questions. Essay questions
Points Possible
5 Extra Credit
points
1 through 9
1 through 9
55 points
220 points
Due Friday January 16 by 5 pm to
stay registered in course
Due on Wednesdays before 5 pm
the week the practice assignment is
listed on course schedule.
Due on Fridays before 5 pm the
week the quiz is listed on course
schedule.
Due before test closing time as
indicated on course schedule.
1 through 9
150 points
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will refer particularly to RM
In Action and RM At Work
sections of chapters.
Total points possible during the course
425 points
You will receive a score of 0 for any work not submitted. To receive credit for the course, you must earn
a letter grade of D- or higher based on fulfilling assigned course work (e.g., assignments, quizzes, tests,
etc.). Your final grade in the course will be a letter grade. Letter grade equivalents for numerical grades
will follow the intent of the following chart:
425-413 = A+/ 412-396 = A /395-383 = A382-370 = B+ /369-353 = B /352-340 = B339-328 = C+ /327-311 = C / 310-298 = C297-285 = D+ /284-268 = D /267-255 = DBelow 255 = F
Students are responsible for checking their grades on Canvas frequently. Please e-mail your instructor as
soon as you have any questions regarding your grades during the semester. No grade change request
will be accepted after any assignment, quiz, test, or other grade has been posted for two weeks.
General online test guidelines
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You will have only 1 opportunity to take online quizzes and tests within the available time window.
Tests will normally be available for week so you can choose a convenient time to take them. Once
you start the test, you must finish it in the given time.
Please note, the on-line test link will disappear from Canvas when deadline to take test is past. If
you miss taking that test, you won’t be able to make it up.
Test questions are from the textbook, lecture power point slides, or posted resources to Canvas.
Each test has multiple-choice or similar type objective questions programmed into Canvas. Tests will
likely have essay questions as well. Tests are open book but they are timed (60 minutes per test), so
you will need to have a fairly good grasp of the material in order to achieve a satisfactory grade.
The test questions will appear one at time. If you skip the question, you will not be able to return.
As soon as you “submit” the objective test, you will be able to view results with correct answers,
assuming you do not pass deadlines, time windows, etc. Essays will be graded separately at this
point in time.
You may email your instructor if any technical problem occurs while taking the on-line test,
however, response time will reflect normal business work hours, e.g., between 9 and 5 pm during
weekdays only. Please verify that you have considered all other tech issues before assuming it is a
problem with Canvas.
Murphy’s Law: “Anything that can go wrong will go wrong.” Do not wait until the last minute to
take the on-line tests.
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Practice assignments and applied quizzes
The various practice assignments and applied quizzes will be numerically-focused. Practice assignments
will be graded on Canvas with feedback or sample answers the instructor will program into Canvas so
you may follow the reasoning more easily. The Practice Assignments will be based on but may modify at
times the text versions referred to in schedule below.
Quizzes will be scored automatically so you should be able to see scores immediately, barring any
technical issues. Basically, quizzes will follow the learning goals of the practice assignment for that week,
though with scenarios and situations that are similar in technique but involve new numbers and/or
question wording that might be slight different from the practice assignment.
CAUTION: ALL WORK IS INDIVIDUAL; I AM PARTICULARLY CONCERNED THAT YOU DO NOT PLAGIARIZE
WITHOUT THINKING ABOUT IT BECAUSE YOU MAY WORK ON ASSIGNMENTS TOGETHER WITH
CLASSMATES. MAKE SURE YOU WRITE ASSIGNMENTS AND TESTS IN YOUR OWN WORDS TO AVOID THIS.
GRADING POLICIES:
 No late submissions are accepted: All deadlines are enforced with no exceptions.
 Make-up policy: No make ups permitted. I will give one opt-in comprehensive test you can
optionally do last week of class to replace your lowest test grade. If you miss a test, this helps.
This cannot replace assignment points, just one lowest course test grade.
EXPECTATIONS OF ALL LEARNING COMMUNITY MEMBERS:
The first sentence of the UNCG Student Code of Conduct is: “Members of the UNCG community respect
fundamental principles for ensuring a campus environment conducive to peaceful and productive living
and study. These principles include five values: honesty, trust, fairness, respect, and responsibility.” All
university members (students, faculty, and staff) have a responsibility to uphold these five values, and
this is true in the Bryan classroom environment (both face-to-face and web) and related academic
activities.
All policies and procedures of this course follow those stated in the publication University Regulations
concerning attendance, nondiscrimination policy, academic regulations and procedures, student rights
and student conduct, among others. Students must abide by the Honor Code of the University of North
Carolina Greensboro on all assignments and examinations related to this course. See more information
at
http://sa.uncg.edu/handbook/academic-integrity-policy/
SPECIAL NEEDS
If any member of the class feels that he/she has a disability and needs special accommodations of any
nature, I will work with you and the Office of Disability Services to provide reasonable accommodations
to ensure that you have a fair opportunity to perform in this class. Please advise me as soon as possible
of such disability and the desired accommodations. Please also contact the Office of Disability Services
(ODS) at 336-334-5440 for further assistance. See more information at http://ods.dept.uncg.edu.
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Schedule STH 313 Spring 2015
Note:
New material and quizzes will be posted Wednesday noon before the week due.
Practice assignment due before Wednesday 5 pm of week posted below.
Applied quiz due before Friday 5 pm of week posted below.
Course tests are open for a week, from Monday noon to the next Monday 5 pm.
Week of January 12 – Syllabus and Student Profiles
Reading
Review syllabus
STUDENT PROFILE
DO STUDENT PROFILE ON
CANVAS BY 5 pm FRIDAY
1/16 TO STAY IN COURSE
Week of January 19 – Sources of revenue in the lodging industry.
Reading
Chapter 1 & PPTs
Practice Assignment (PA)
RM at Work 1.2 p. 30 &
PA posting 1.2
Due Wed 1/21 5 pm
Applied Quiz
Based on PA & PA
posting 1.2
Due Fri 1/23 5 pm
Week of January 26 – Overview of RM ethics, principles, and law.
Reading
Chapter 5 & PPTs
Practice Assignment (PA)
RM at Work 5.2 p. 157 &
PA posting 5.2
Due Wed 1/28 5 pm
Applied Quiz
Based on PA & PA
posting 5.2
Due Fri 1/30 5 pm
Week of February 2 – Seller risk/breakeven. Supply/demand & pricing.
Reading
Chapter 2 & PPTs
Practice Assignment (PA)
RM at Work 2.2 p. 60 &
PA posting 2.2
Due Wed 2/4 5 pm
Applied Quiz
Based on PA & PA
posting 2.2
Due Fri 2/6 5 pm
Week of February 9 – Value & quality in pricing.
Reading
Chapter 3 & PPTs
Practice Assignment (PA)
RM at Work 3.2 p. 83 &
PA posting 3.2
Due Wed 2/11 5 pm
Applied Quiz
Based on PA & PA
posting 3.2
Due Fri 2/13 5 pm
Week of February 16 – Differential pricing, factors, & revenue optimization.
Reading
Chapter 4 & PPTs
Practice Assignment (PA)
Apply What You Know
#4 and #5, pp. 125-127
Applied Quiz
Based on PA
Due Wed 2/18 5 pm
Due Fri 2/20 5 pm
Course Test 1
Open from 2/16 noon
to 2/23 (5 pm) on
chapters 1, 2, 3, & 5
Week of February 23 – Inventory, rate restrictions, & overbooking.
Reading
Chapter 7 & PPTs
Practice Assignment (PA)
Apply What You Know
#2 and #3, pp. 254-255
Due Wed 2/25 5 pm
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Applied Quiz
Based on PA
Due Fri 2/27 5 pm
Week of March 2 – Demand forecasting and predictor variables.
Reading
Chapter 6 & PPTs
Practice Assignment (PA)
Apply What You Know
#1 and #4, pp. 201-205
Due Wed 3/4 5 pm
Applied Quiz
Based on PA
Due Fri 3/6 5 pm
Week of March 9 – SPRING BREAK
Week of March 16 – Distribution channels
Reading
Chapter 8 & PPTs
Practice Assignment (PA)
Apply What You Know
#1 and #3, pp. 300-302
Due Wed 3/18 5 pm
Applied Quiz
Based on PA
Due Fri 3/20 5 pm
Week of March 23 – Revenue performance and profitability analysis for hotels.
Reading
Chapter 9 & PPTs
Practice Assignment (PA)
Apply What You Know
#2 and #4, pp. 343-346
Applied Quiz
Based on PA
Due Wed 3/25 5 pm
Due Fri 3/27 5 pm
Course Test 2
Open from 3/23 noon
to 3/30 (5 pm) on
chapters 4, 6, 7, & 8
Week of March 30 – Revenue management for food and beverage.
Reading
Chapter 10 & PPTs
Practice Assignment (PA)
Apply What You Know
#1 and #3, pp. 385-387
Due Wed 4/1 5 pm
Applied Quiz
Based on PA
Due Fri 4/3 5 pm
Week of April 6 – Revenue management for food and beverage.
Reading
Chapter 11 & PPTs
Practice Assignment (PA)
Apply What You Know
#4 and #5, pp. 424-426
Due Wed 4/8 5 pm
Applied Quiz
Based on PA
Due Fri 4/10 5 pm
Week of April 13 – No new material.
Course Test 3
Open from 4/13 noon
to 4/20 (5 pm) on
chapters 9, 10, & 11
Week of April 20 – Optional replacement comprehensive test available.
Opt-in replacement test
Open from 4/20 noon
to 4/27 ( 5 pm) on all
previous chapters
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