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A simulation approach to hotel revenue management training

Author

Listed:
  • Carmen Cox

    (Bond University)

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.

Suggested Citation

  • Carmen Cox, 2018. "A simulation approach to hotel revenue management training," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 17(5), pages 356-364, October.
    • Handle: RePEc:pal:jorapm:v:17:y:2018:i:5:d:10.1057_s41272-018-00159-1
    DOI: 10.1057/s41272-018-00159-1
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    References listed on IDEAS

    as
    1. Stan H G Josephi & Marc B Stierand & Aad van Mourik, 2016. "Hotel revenue management: Then, now and tomorrow," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 15(3), pages 252-257, July.
    2. Tevfik Demirciftci & Gurel Cetin & Anil Bilgihan, 2017. "Coping with RM challenges in hospitality education," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 16(5), pages 499-512, October.
    Full references (including those not matched with items on IDEAS)

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