Assignment: Revenue Management
Description:
• Interview a Hotel General Manager or Head of Revenue Management and find their revenue strategy for their property.
• Explain in a 8-9 page paper how the interviewee has come to make the decisions regarding the strategy (STAR reports, cold calling, internet searches) {5-6 pages will be of the Main Body, not the total length of the paper}.
• Who is their direct competition?
• How do they make decisions regarding pricing, overbooking, and closeouts?
Your paper should go into detail about:
• The value that the customer receives based on the price that they pay, and perceived benefit of staying in this property.
• What is the Average Daily Rate (ADR) for the property, average occupancy %, the distribution channels that the property uses, and their market segmentation mix (Transient, group, and special contract and negotiated rates)?
• What is the average Rack-Rate for this property and the usual discount that is given in season, versus out-of-season?
• You should also go into detail about the company, this information should be found on their website or in articles. I want to feel like I am learning something not only about their pricing but also about the company, the industry, and their competition.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.