Check In To The Kellstadt MBA in Revenue Management
There are a multitude of challenges in the hospitality industry— executives are constantly having to reach deadlines in booking unfilled hotel rooms, booking airline seats, populating restaurant tables and selling club memberships. Add in the impact that social media review websites have in the industry, and restaurants, private clubs, hotels, airlines and other hospitality industry businesses are strapped tofind innovative ways to market themselves and make the almighty dollar.
To meet the needs of industry employers and hospitality executives, DePaul’s School of Hospitality Leadership devised a series of initiatives, including the MBA in Revenue Management at the Kellstadt Graduate School of Business. “In terms of revenue management, the industry’s mantra is, ‘Finding the right price for the right customer at the right time,’” says Thomas Meier, an assistant professor in the School of Hospitality Leadership. “In the hospitality industry the product itself is a perishable product. So revenue management strategy and execution becomes increasingly more important. DePaul recognized the complex nature of revenue management practices and the growing level of interest from industry leaders and we took steps to address it.”
DePaul’s MBA in Revenue Management degree is distinctive due to its solid business foundation.
“It combines revenue management principles unique to the hospitality industry with advanced business concepts and data analysis,” says Maier. Students learn the principles of yield management, online channel distribution systems and pricing theory, among other business-based principles.
DePaul’s location also adds to the value of this program and the degree earned from it. Chicago is home to hospitality heavy-hitters like United Airlines, Hyatt Hotels and McDonald’s Corp. Students enrolled in the program will have opportunities to conduct industry research and pursue real-world application of their studies.
“We have a wealth and depth of hospitality industry stakeholders here in Chicago and our program takes full advantage of that,” Maier says.
