THE-ICE Global Revenue Management (GRM) Challenge
It’s time to come together, to share and develop knowledge and experiences
to collectively build something for the future of our students & staff
to put our training and talents to the test
and do battle for the best prizes that have ever been offered to hospitality and tourism students
It is time for THE-ICE Global Revenue Management (GRM) Challenge!
The Big Idea
THE-ICE, in association with Russell Partnership Technology and STR SHARE Center, was delighted to launch our first ever global student competition in 2021, exclusively for students of THE-ICE accredited member institutions. THE-ICE GRM Challenge is our chance to pull together and build something good for the benefit of our students and staff, so we call on all our members to engage and support this initiative.
The GRM Challenge unites students from across THE-ICE network into teams in an innovative and exciting format that will test and develop their hospitality and tourism revenue management skills. Students are teamed up with others from around the world with the goal of increasing international collaboration, sharing knowledge and enhancing teamworking. Teams comprise 4 or 6 students, from 3 or more institutions. All entrants are provided with access to the Russell Partnership Technology Revenue Management programme, where they will be tasked with managing the sales and revenue for a virtual hotel within a simulated environment.
How does it work?
Students will use the Russell Partnership Technology Revenue Management programme to complete THE-ICE GRM Challenge online, making decisions as a team to manage the sales and revenue for a virtual hotel within a simulated environment. Teams will be drawn from across the global network of THE-ICE, and each GRM team will be advised and coordinated by at least one CHIA (or equivalent) certified academic from a member institution of THE-ICE.
The Best Ever Prize Package
THE-ICE and our partners want everyone to take part and learn, and are keen to reward students who do well, not just those who come out on top, so all students of the three highest placed teams will receive:
- 3rd Place – All members of the team received a free registration on the Hospitality Business Acumen (HBA) Certificate programme.
- 2nd Place – All members of the team received a free registration on the Certification in Advanced Hospitality and Tourism Industry Analytics (CAHTA) AND a free registration on the Hospitality Business Acumen (HBA) Certificate programme.
- 1st Place – All members of the team received a $AUS1500 bursary towards study offered by any member of THE-ICE, AND a free registration on the Certification in Advanced Hospitality and Tourism Industry Analytics (CAHTA) offered by STR SHARE Center AND a free registration on the Hospitality Business Acumen (HBA) Certificate programme offered by Russell Partnership Technology.
Supporting Learning and Certification
The Certification in Hotel Industry Analytics (CHIA) is not only an industry recognised qualification, but also the best way to prepare for the competition. So, in order to create a level playing field, at least one member of each team in the GRM Challenge will have to be CHIA certified or hold an equivalent certification. However, because the competition provides a stimulus for students to take CHIA and a fantastic practical application of the skills learnt, THE-ICE has agreed to supplement the cost of this certification for team members, reducing both the workshop rate and examination rate from $75 USD each to just $50 USD each!
Professional development opportunities for staff and students
Each GRM team will be advised and coordinated by at least one CHIA-certified (or equivalent) academic from a member institution of THE-ICE. To encourage and support staff to get involved with the Challenge, STR SHARE Center are offering free train-the-trainer sessions for staff who wish to gain the Certification in Hotel Industry Analytics (CHIA). Trained and certified staff can then offer CHIA training to GRM team members, supported by a comprehensive PowerPoint presentation, videos and online training. Contact sharecenter@str.com for more info or to register.
Timeline for THE-ICE GRM Challenge 2024
January – Institutions submit the details of the staff who will act as the GRM Staff Advisor, and of students who wish to participate. A maximum of ten (10) students per institution can participate in 2024. Institutions with three (3) or more THE-ICE accredited campuses may submit two (2) additional student competitors per additional campus.
February – THE-ICE organises students into international, interinstitutional teams, and once finalised, each team is provided with access details.
March – The battle commences! Teams have a maximum of three opportunities to undertake the Challenge, which they can complete at any stage during the ‘competition window’.
April – THE-ICE GRM Challenge 2024 results are calculated, and winners are announced.
November – The winning team is presented with their study bursary at the Gala Dinner of THE-ICE 17th IPoE Forum.
How to get involved
To register your interest in the 2024 competition, or if you have any questions regarding THE-ICE GRM Challenge, please contact THE-ICE Project Coordinator, Ms Jade Rheeder (jade@the-ice.org).
Click here to view the previous winners of THE-ICE Global Revenue Management Challenges.