Program Bachelor of Business
Subject code : HAT301A
Subject name : Revenue Management
Group or individual assessment Individual
Total marks : 80 Marks
Weighting : 30%
Assessment title : Scenario Calculations Exercise
This assessment addresses the following learning outcomes:
d) Examine how supply and demand forecasting drives revenue management and appraise its value as an operational tool
across the hospitality industry.
e) Evaluate revenue management’s position in optimising distribution and pricing strategies.
f) Make appropriate pricing recommendation from trend analysis statistics.
You have recently been hired as a revenue manager at a hotel in a medium sized Australian city. The hotel has recently taken over by a different owner and has been refurbished, the hotel was previously sold as a 4 star hotel, but the new owner wants to market it as a 5 star hotel.
The hotel has 200 rooms, one restaurant and 12 conference rooms.
Choose the city you want to use in your example (must be population of 100,000 – 300,000). By using 3rd party websites – chose your competitive set, must be 3-4 hotels.
- Chose 3 weeks in the next three months where the rates fluctuate.
- Create a revenue grid taking into account
- Your competitors rates
- You’re on the books figures (you must define these)
- Occupancy forecast (you must define this)
- Calculate the forecasted average rate for each night in those 3 weeks.