Revenue Management takes its roots in understanding, analysing and evaluating data to make decisions. The RM scenario evaluations is a two-part assignment which will allow students a handson experience with RM data. The HFR603 assessments will help you to understand what RM is, what its main functions are and how these are used in hotels today. With this knowledge in hand, you will become more versed in this interdepartmental topic and be able to see its application in any hotel department. You will demonstrate strong research skills, as well as critical thinking and analysis.
There will be two RM scenario evaluations, during Week-8 and Week-9. This task will present a set of data of revenue-related content. Students will be required to analyse and evaluate the content. This assessment task is open-books. The data set might cover any topic areas covered in the lectures and tutorials of the previous weeks and any readings given in the previous topics. Students will be required to write a one-page long evaluation and submit via Blackboard.
PART A – Students will be required to analyse and evaluate the data set.
PART B – Students will be required to analyse, evaluate and make recommendations to the data set.
The total percentage covered by the RM scenario evaluation amounts to 40%.
• Submit through Blackboard as a word-processed document.
• You must attach the cover sheet.
• Part A:
o No later than your Week 8 day of class at 11:59PM
o Go to Blackboard and Assessments> Assessment 2 – Scenario Evaluation Part A & B> RM Scenario Evaluation – PART A> View/Complete
• Part B:
o No later than your Week 9 day of class at 11:59PM
o Go to Blackboard and Assessments> Assessment 2 – Scenario Evaluation Part A & B> RM Scenario Evaluation – PART B> View/Complete
PART B: Consider you are the revenue analyst for Phoenix Boutique Hotel, a 195-room hotel, located in the Melbourne CBD. Bledisloe Cup is an annual sports event that happens in Melbourne every year on the second Saturday of August.
Below table demonstrates the business on the book, as of today, and the rooms pick up same time last year.
Your Director of Revenue Management has asked you:
I have a meeting with GM in 30 mins. I want to understand what occupancy and ADR we are holding for the 6-day period during Bledisloe Cup. Just give me the whole numbers. Also, can you quickly calculate the unconstrained demand for each of the six days; and tell me what, if any, inventory control we should put and/or if we need to adjust our prices for the Friday and Saturday nights. Tell me what and why?
Call me.I am not on email.
Pretty please 😊
You are required to perform the tasks as your DORM has asked you to do. Write down all your calculations, analysis, observations, recommendations and reasoning on 1-page document. Assume your hotel does not have any group business, no cancellations and no no-shows. Tables, charts, bullets, hand-written notes are acceptable
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