Revenue Management
Revenue Management
Assignment overview:
This is an individual project where you have been appointed as the Revenue Management consultant to advise a Hotel on Revenue and income optimization matters.
Overall aim:
To synthesis a revenue optimization strategy that addresses a set of prescribed key performance indicators.
Word Count: 1,000 +/- 10% for the report.
Plus an excel file sent together with the report.
Tasks, Organization and Grading:
This is an individual written report.
| Structure and Key Performance Indicators: | Learning Descriptor |
| Title Page
(part of task 6) Title – Names of the Case Study Your name Course name Date University name. |
Communication
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| 1. Introduction (5%)
(approx. 100 words)
Overview of the case study and its requirements. Explain the “road map” of the report. |
· Knowledge and Understanding
o Clearly state the background of the case study and comprehend its requirements. . |
| 2. Synopsis of Relevant Literature (30%)
(approximately 400 words) ( Include references)
2.1 Forecasting Methods for the Hotel Industry (10%) 2.2 Non-casual Forecasting 2.2.1 Advantages (10%) 2.2.2 Disadvantages (10%)
|
·
(Ability to critically review relevant literature and provide a summary of major findings) · Communication
|
| 3. Analysis (20%)
(approximately 200 words). ( include references)
3.1 Forecasting Demand 3.1.1 Perform data decomposition and prepare seasonally adjusted data (10%). 3.1.2 Forecast anticipated results for next year on a monthly base by using at least two non-causal forecasting method (10%). |
· Cognitive Skills
· Numeracy (Use statistics to address the various KPI’s related to this section). · Using technology (Use of excel to prepare mathematically and statistical valid tables and graphs). |
| 4. Discussion (20%)
(approximately 200 words) ( include references) 4.1 Compare and contrast your results from the analysis section to the key findings from the synopsis section in order to validate your analysis and findings. |
· Cognitive Skills ( Use summarized information produced in the previous section to discuss and synthesize your own findings)
|
| 5. Conclusions (5%).
(approximately 100 words) 5.1 Summarize your work and arrive at main conclusions with recommendations for future research related to non-casual forecasting for Hotels.
|
· Professional Competencies
(Ability to reach and defend conclusion. Extracting relevant material from large bodies of data). · Cognitive Skills (Use summarized information produced in the previous sections to support and synthesize your own recommendations and conclusions). |
| 6. Appendices (10%)
(not part of the word count)
6.1 Complete and correct excel file with evidence of all calculations. |
· Using technology (Use of excel to prepare mathematically and statistical valid tables and graphs).
· Communication (Presentation and formatting). |
| 7. References and Presentation of work (10%)
7.1 Presentation of written work. Correct APA in-text and end of the report referencing (5%). 7.2 The final report is well written, reflects accurate proof reading with no grammatical, syntactic, spelling or typographical errors, style of writing is consistent throughout and the report represents a coherent, integrated and holistic paper (5%). |
· Communication (Presentation and referencing style)
· Professional competencies (Ability to use industry related tools and language to present academic work). |
