Revenue Management

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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

 
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).