Thijs now knows all about revenue management
The Revenue Management project focuses on the importance of controlling rates by applying methods to increase overall profitability. The project is about giving us the know-how of using Revenue Management techniques that are essential to managers today. The main goal of the project is to teach us the fundamentals of Revenue Management and to give us an insight into how pricing strategies are shaped. In this way, the project provided us with knowledge that gives us a head-start in the discipline.
In this project, we worked in groups of approximately 6 students consisting of different nationalities such as Portuguese, Romanian and German. Together we were provided with an extensive data set to analyse, and we were asked to make predictions and strategic decisions upon using various revenue management methods. In the end, we presented our decisions and recommendations to our student colleagues. The project has given me a better understanding of business analytics and provided me with the knowledge to forecast and make predictions based on historical data. In my opinion, this is an essential skill in today's hotel industry.
Thijs de Boer
Second-year International Hotel Management student