The marketing and revenue management concentration provides students with in-depth knowledge of the marketing functions of hospitality businesses. Professionals in marketing and branding roles conduct market research, oversee multimedia advertising campaigns, and consult with outside agencies, promotional representatives and corporate executives.
Revenue management refers to the strategies and processes that optimize and maximize the business’s revenues. On the basis of daily, weekly and monthly reports, revenue managers make predictions of demand, and make pricing decisions. In other words, they may raise prices in times of high demand, and may offer promotions when demand is slow. They analyze the competition and produce performance reviews at the end of each reporting period. Revenue managers also oversee partnerships with distribution channels such as online travel agencies.