{"id":4198,"date":"2019-12-18T16:58:24","date_gmt":"2019-12-18T21:58:24","guid":{"rendered":"https:\/\/www.bu.edu\/hospitality\/?page_id=4198"},"modified":"2024-09-18T15:09:36","modified_gmt":"2024-09-18T19:09:36","slug":"revenue-management-analytics","status":"publish","type":"page","link":"https:\/\/www.bu.edu\/hospitality\/academics\/graduate-programs\/mmh\/revenue-management-analytics\/","title":{"rendered":"Revenue Management and Analytics Concentration\u2014Master of Management in Hospitality"},"content":{"rendered":"<p><a href=\"https:\/\/www.bu.edu\/hospitality\/admissions\/apply-graduate-program\/\" class=\"button\" rel=\"noopener\">Apply to the MMH<\/a><\/p>\n<p><span style=\"font-weight: 400;\">The <\/span><b>Master of Management in Hospitality\u2019s Revenue Management &amp; Analytics concentration<\/b><span style=\"font-weight: 400;\"> addresses and prepares students for a growing and highly detailed role in the hospitality industry. Twenty years ago, revenue management and analysis careers emerged in response to changing industry practices and the digitization of trip planning and marketing. As a result of greater data availability, demand for advanced-level professionals who can examine numbers and project revenue across sales, marketing, and financial efforts has soared.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Taken during the spring semester of our one-year Master of Management in Hospitality (MMH) degree, the Revenue Management and Analytics concentration introduces students to advanced analytics, forecasting strategies, and digital marketing through a hospitality-focused lens and builds upon the degree\u2019s management- and operational-focused required courses.<\/span><\/p>\n<h2><img loading=\"lazy\" src=\"\/hospitality\/files\/2021\/04\/15.jpg\" alt=\"Board Room Overview Image of students and staff\" width=\"1024\" height=\"597\" class=\"alignnone wp-image-9686 size-full\" srcset=\"https:\/\/www.bu.edu\/hospitality\/files\/2021\/04\/15.jpg 1024w, https:\/\/www.bu.edu\/hospitality\/files\/2021\/04\/15-636x371.jpg 636w, https:\/\/www.bu.edu\/hospitality\/files\/2021\/04\/15-768x448.jpg 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/h2>\n<h2><b>Why Specialize in Revenue Management &amp; Analytics?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Hotels, restaurants, and resorts have a wealth of data available to them. The revenue manager or analyst makes sense of it all to address and solve key operational issues.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An MMH degree with a Revenue Management and Analytics concentration fosters the analytical and yielding mindset a student needs to succeed while also solidifying their more technical skill set. In turn, students learn to utilize statistical programming, analytic visualization, forecasting, yield management, predictive modeling, and segmentation techniques in a modern hospitality context.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">By the end of the program, graduates have the skills and knowledge to deliver sound, data-driven business decisions such as:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">making projections that improve product and service offerings,\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">increasing revenue using the property\u2019s existing facilities and capabilities,\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">predicting and mitigating risks,\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">forecasting future performance, and\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">knowing when to offer discount rates and to which customers.<\/span><\/li>\n<\/ul>\n<p><b><strong><div class=\"bu_collapsible_container \" aria-live=\"polite\" data-customize-animation=\"false\"><h2 class=\"bu_collapsible\" aria-expanded=\"false\"tabindex=\"0\" role=\"button\"><\/strong>MMH Degree Structure<strong><\/h2><div class=\"bu_collapsible_section\" style=\"display: none;\"><\/strong><\/b><\/p>\n<p><span style=\"font-weight: 400;\">To earn an MMH degree, students must complete a total of 32 credit hours (eight courses). Required courses, typically taken during the fall semester, give students a comprehensive, in-depth look at high-level hospitality operations. In the spring semester, students build upon this knowledge with four (4) electives, including three (3) classes from their selected concentration.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Following, students spend the summer semester doing a 300-hour experimental, <a href=\"https:\/\/www.bu.edu\/hospitality\/careers\/required-work-experiences\/graduate-work-requirement\/\">internship requirement<\/a>. If a student already has relevant hospitality industry experience, this requirement may be waived.\u00a0<\/span><\/p>\n<p><\/div>\n<\/div>\n<\/p>\n<p><b><strong><div class=\"bu_collapsible_container \" aria-live=\"polite\" data-customize-animation=\"false\"><h3 class=\"bu_collapsible\" aria-expanded=\"false\"tabindex=\"0\" role=\"button\"><\/strong>Required MMH Courses\u20144 Courses (16 Credit Hours)<strong><\/h3><div class=\"bu_collapsible_section\" style=\"display: none;\"><\/strong><\/b><\/p>\n<p><span style=\"font-weight: 400;\">MMH students must complete prerequisite courses HF701, HF711, HF762, and HF733 before moving on to their concentration. These introductory courses collectively deliver a solid foundation in hospitality management and its operations. Revenue Management and Analytics coursework covers:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">the tools to analyze and problem-solve specific hotel and lodging issues;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">accounting and financial fundamentals related to business planning and decision-making;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">marketing techniques for strategically approaching revenue, profits, customer loyalty, and success in the digital age;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">leading and managing a hospitality workforce, and<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">human resource strategies for best employment practices and adjusting to an evolving industry.\u00a0<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.bu.edu\/hospitality\/academics\/graduate-programs\/mmh\/mmh-curriculum\/\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Review the full MMH Curriculum<\/span><\/a><span style=\"font-weight: 400;\"> for a course-by-course breakdown.<\/span><\/p>\n<p><\/div>\n<\/div>\n<\/p>\n<p><b><strong><div class=\"bu_collapsible_container \" aria-live=\"polite\" data-customize-animation=\"false\"><h3 class=\"bu_collapsible\" aria-expanded=\"false\"tabindex=\"0\" role=\"button\"><\/strong>Revenue Management and Analytics Concentration Courses\u20144 Courses (16 Credit Hours)<strong><\/h3><div class=\"bu_collapsible_section\" style=\"display: none;\"><\/strong><\/b><\/p>\n<p><span style=\"font-weight: 400;\">An MMH concentration allows students to home in on a specialized skill set. For the Revenue Management and Analytics concentration, students take three advanced-level courses (HF771, HF778, and HF779) and one elective of their choosing.\u00a0<\/span><\/p>\n<details>\n<summary>HF 771: Hotel Revenue Management Strategies<\/summary>\n<div class=\"course-feed\"><aside class=\"cf-course\">\n\t<div class=\"cf-course-card\">\n\t\t<h3 class=\"cf-course-title\"><span class=\"cf-course-id\"><span class=\"cf-course-college\">SHA<\/span> <span class=\"cf-course-dept\">HF<\/span> <span class=\"cf-course-number\">771<\/span><\/span> Hospitality Revenue Management Strategies<\/h3>\n\t\t<p class=\"meta cf-course-info\"><span class=\"cf-course-credits\">4 credits.<\/span> <span class=\"cf-course-offered\">Fall and Spring<\/span> <span class=\"cf-course-prereqs\"><\/span><\/p>\n        \n\t\t<p class=\"cf-course-description\"> Graduate Prerequisites: SHA HF 701 and SHA HF 711 - Hotel Revenue Management focuses on how a hotel can produce the highest amount of \"profitable\" revenue given its fixed capacity and variable demand. The fundamental principles and concepts of hospitality revenue management that include pricing and discounting strategies, overbooking practices, segmentation, competitive analysis, demand and revenue forecasting, performance analysis will be discussed throughout the term. To expand revenue management streams outside of the hotel rooms, Total Revenue Management strategies are explored. Non-traditional hospitality segments discussed include space optimization and cruise revenue management. 4 cr. Offered Spring Semester.<\/p>\n\t<\/div>\n\n\t\n<\/aside><\/div>\n<\/details>\n<details>\n<summary>HF 778: Hospitality Analytics<\/summary>\n<div class=\"course-feed\"><aside class=\"cf-course\">\n\t<div class=\"cf-course-card\">\n\t\t<h3 class=\"cf-course-title\"><span class=\"cf-course-id\"><span class=\"cf-course-college\">SHA<\/span> <span class=\"cf-course-dept\">HF<\/span> <span class=\"cf-course-number\">778<\/span><\/span> Hospitality Analytics<\/h3>\n\t\t<p class=\"meta cf-course-info\"><span class=\"cf-course-credits\">4 credits.<\/span> <span class=\"cf-course-offered\">Fall and Spring<\/span> <span class=\"cf-course-prereqs\"><\/span><\/p>\n        \n\t\t<p class=\"cf-course-description\"> Graduate Prerequisites: SHA HF 701, SHA HF 711, and SHA HF 762 - This course will provide students with fundamental knowledge of business analytics and information visualization combined with extensive opportunities for developing hands-on skills for applying hospitality business analytics to managerial decision-making. Students will learn fundamental mathematical and statistical concepts as well as statistical modeling techniques to solve operational, financial and marketing issues that hospitality organizations face today. Students will also learn how to leverage widely used Microsoft Excel to build out data-driven insights and craft story telling visualization around the data-driven insights. 4 cr. Offered Fall semester.<\/p>\n\t<\/div>\n\n\t\n<\/aside><\/div>\n<\/details>\n<details>\n<summary>HF 679: Financial Reporting and Analysis<\/summary>\n<div class=\"course-feed\"><aside class=\"cf-course\">\n\t<div class=\"cf-course-card\">\n\t\t<h3 class=\"cf-course-title\"><span class=\"cf-course-id\"><span class=\"cf-course-college\">SHA<\/span> <span class=\"cf-course-dept\">HF<\/span> <span class=\"cf-course-number\">679<\/span><\/span> Financial Reporting and Analysis<\/h3>\n\t\t<p class=\"meta cf-course-info\"><span class=\"cf-course-credits\">4 credits.<\/span> <span class=\"cf-course-offered\">Fall and Spring<\/span> <span class=\"cf-course-prereqs\"><\/span><\/p>\n        \n\t\t<p class=\"cf-course-description\">This course will teach students the process of examining a company's performance in the context of its industry and economic environment in order to arrive at a decision or recommendation. The central focus of financial analysis is financial statement analysis and interpretation of financial disclosures on evaluating the company's performance to improve risk assessment and decision-making. Students will be able to understand company's future risk performance by analyzing the financial statements.<\/p>\n\t<\/div>\n\n\t\n<\/aside><\/div>\n<p><span style=\"font-weight: 400;\">Read the complete course descriptions and all options for electives on our <\/span><a href=\"https:\/\/www.bu.edu\/hospitality\/academics\/graduate-programs\/mmh\/mmh-curriculum\/\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">MMH Curriculum page<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<\/details>\n<p><\/div>\n<\/div>\n<\/p>\n<p><b><strong><div class=\"bu_collapsible_container \" aria-live=\"polite\" data-customize-animation=\"false\"><h3 class=\"bu_collapsible\" aria-expanded=\"false\"tabindex=\"0\" role=\"button\"><\/strong>Part-Time MMH Opportunities<strong><\/h3><div class=\"bu_collapsible_section\" style=\"display: none;\"><\/strong><\/b><\/p>\n<p><span style=\"font-weight: 400;\">Many students wanting to pursue an MMH degree already have careers in the hospitality industry. Made for working adults seeking to advance in their chosen field or pivot to a leadership role, the MMH degree can be completed on a part-time basis.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The School of Hospitality Administration (SHA) holds our part-time MMH classes in the evenings to accommodate your busy schedule. Students typically take one or two classes per semester, going through the required course timeline before moving on to their selected concentration. Part-time students generally complete their MMH in two years.<\/span><\/p>\n<p><\/div>\n<\/div>\n<\/p>\n<p><img loading=\"lazy\" src=\"\/hospitality\/files\/2021\/04\/16.jpg\" alt=\"MMH Student working\" width=\"1024\" height=\"597\" class=\"alignnone wp-image-9688 size-full\" srcset=\"https:\/\/www.bu.edu\/hospitality\/files\/2021\/04\/16.jpg 1024w, https:\/\/www.bu.edu\/hospitality\/files\/2021\/04\/16-636x371.jpg 636w, https:\/\/www.bu.edu\/hospitality\/files\/2021\/04\/16-768x448.jpg 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p><b><strong><div class=\"bu_collapsible_container \" aria-live=\"polite\" data-customize-animation=\"false\"><h2 class=\"bu_collapsible\" aria-expanded=\"false\"tabindex=\"0\" role=\"button\"><\/strong>Career Services for MMH Students<strong><\/h2><div class=\"bu_collapsible_section\" style=\"display: none;\"><\/strong><\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">SHA\u2019s MMH degree plants you right in the middle of Boston\u2019s thriving hospitality hub, home to thousands of restaurants, several hotels, three convention centers, and a major tourism industry. SHA acknowledges the abundance of opportunities available, and our Career Services, in conjunction with the <\/span><a href=\"https:\/\/www.bu.edu\/hospitality\/careers\/job-seekers\/\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Marriott Career Center<\/span><\/a><span style=\"font-weight: 400;\">, works to help students explore their options and ultimately succeed in this rapidly growing industry.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Whether for completing your 300-hour work experience requirement, attending workshops, finding a mentor, or networking with leading industry professionals, <\/span><a href=\"https:\/\/www.bu.edu\/hospitality\/careers\/\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">head over to Career Services to explore our full range of resources<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><\/div>\n<\/div>\n<\/p>\n<p><b><strong><div class=\"bu_collapsible_container \" aria-live=\"polite\" data-customize-animation=\"false\"><h2 class=\"bu_collapsible\" aria-expanded=\"false\"tabindex=\"0\" role=\"button\"><\/strong>Revenue Management and Analytics Career Outcomes<strong><\/h2><div class=\"bu_collapsible_section\" style=\"display: none;\"><\/strong><\/b><\/p>\n<p><span style=\"font-weight: 400;\">SHA has a close relationship with hospitality companies and top industry executives and aims to connect our students with prime career-forwarding opportunities.\u00a0<\/span><span style=\"font-weight: 400;\">For Revenue Management and Analytics students, your concentration helps you acquire the skills needed to secure a position as a revenue manager or revenue analyst for a single hotel or resort, regional group, or entire national chain. This skill set can be further applied to a broad range of roles within the tourism and travel industries, including:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Lodging managers<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Sales managers<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Revenue agents and auditors<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Financial managers and analysts<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Marketing, promotions, and advertising managers<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Management analysts<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Budget analysts<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Market research analysts<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">With the skills they\u2019ve gained through the MMH degree, our alumni find themselves taking a plethora of career paths. See how they\u2019ve applied their knowledge by browsing our <\/span><a href=\"https:\/\/www.bu.edu\/hospitality\/academics\/graduate-programs\/mmh-alumni-profiles\/\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">MMH Alumni Profiles<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><\/div>\n<\/div>\n<\/p>\n<p><b><strong><div class=\"bu_collapsible_container \" aria-live=\"polite\" data-customize-animation=\"false\"><h2 class=\"bu_collapsible\" aria-expanded=\"false\"tabindex=\"0\" role=\"button\"><\/strong>MMH Application Requirements<strong><\/h2><div class=\"bu_collapsible_section\" style=\"display: none;\"><\/strong><\/b><\/p>\n<p><span style=\"font-weight: 400;\">Students interested in earning an MMH degree with a Revenue Management and Analytics concentration need to submit:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">An undergraduate transcript<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">At least two letters of recommendation<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Resume or CV<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A one- to three-minute video<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Written personal statement<\/span><\/li>\n<\/ul>\n<p><b>GRE and GMAT test scores are not required. <\/b><span style=\"font-weight: 400;\">However, international students must take the TOEFL or IELTS test and earn a minimum of 84 for the TOEFL or 6.5 for the IELTS.<\/span><\/p>\n<p><a href=\"https:\/\/www.bu.edu\/hospitality\/admissions\/apply-graduate-program\/\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Review the full list of requirements and start your online application<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><\/div>\n<\/div>\n<\/p>\n<h2><img loading=\"lazy\" src=\"\/hospitality\/files\/2021\/04\/17.jpg\" alt=\"Analytics Image\" width=\"1024\" height=\"597\" class=\"alignnone wp-image-9687 size-full\" srcset=\"https:\/\/www.bu.edu\/hospitality\/files\/2021\/04\/17.jpg 1024w, https:\/\/www.bu.edu\/hospitality\/files\/2021\/04\/17-636x371.jpg 636w, https:\/\/www.bu.edu\/hospitality\/files\/2021\/04\/17-768x448.jpg 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/h2>\n<h2><b>Learn More About the MMH Degree\u2014Revenue Management and Analytics Concentration<\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Eyeing a more analytical, finance-based role in the hospitality industry? An MMH degree with a Revenue Management and Analytics concentration supplies you with the knowledge and hands-on experience needed to excel in this highly specialized area.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To learn more about the program, please contac<span>t our<\/span><span>\u00a0Manager of Academic Services &amp; Graduate Admissions at <a href=\"mailto:shagrad@bu.edu\" target=\"_blank\" rel=\"noopener noreferrer\">shagrad@bu.edu<\/a><\/span><span> or (617)-353-3261<\/span><\/span>\u00a0or <a href=\"https:\/\/www.bu.edu\/hospitality\/admissions\/request\/\" rel=\"noopener noreferrer\">request information today<\/a>.<\/p>\n<p><a href=\"https:\/\/www.bu.edu\/hospitality\/admissions\/apply-graduate-program\/\" class=\"button\" rel=\"noopener\">Apply to the MMH<\/a><\/p>\n<p><a href=\"https:\/\/www.bu.edu\/hospitality\/admissions\/request\/\" class=\"button\" rel=\"noopener\">Request Information<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Apply to the MMH The Master of Management in Hospitality\u2019s Revenue Management &amp; Analytics concentration addresses and prepares students for a growing and highly detailed role in the hospitality industry. Twenty years ago, revenue management and analysis careers emerged in response to changing industry practices and the digitization of trip planning and marketing. As a [&hellip;]<\/p>\n","protected":false},"author":16771,"featured_media":0,"parent":4173,"menu_order":7,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"_links":{"self":[{"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/pages\/4198"}],"collection":[{"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/users\/16771"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/comments?post=4198"}],"version-history":[{"count":30,"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/pages\/4198\/revisions"}],"predecessor-version":[{"id":22531,"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/pages\/4198\/revisions\/22531"}],"up":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/pages\/4173"}],"wp:attachment":[{"href":"https:\/\/www.bu.edu\/hospitality\/wp-json\/wp\/v2\/media?parent=4198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}