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Posted: January 19th, 2023
PROJECT OUTLINE
Assessment title: Case Study on Revenue Management Programme: MEIHM
Course name: Revenue and Pricing Management
Learning outcomes:
1. Identify the principles of revenue and yield management.
2. Discuss, demonstrate and apply demand management strategies, pricing, capacity management, discount allocation, forecasting and other associated procedures essential to successful Yield Management.
—> The principles of revenue and yield management include:
Maximizing revenue by adjusting prices and availability based on current demand and market conditions
Optimizing capacity utilization by controlling the number of rooms, seats, or other resources available for sale
Allocating discounts and promotions strategically to different segments of customers
Forecasting demand and making adjustments to prices and availability accordingly
Continuously monitoring and analyzing performance to make informed decisions about pricing and capacity management
To demonstrate and apply these principles, a hotel, for example, might:
Use demand management strategies, such as dynamic pricing, to adjust room rates based on factors like the day of the week, the time of year, and local events.
Use capacity management techniques, such as overbooking, to ensure that rooms are filled as much as possible.
Use forecasting to predict how many rooms will be sold at different prices, and adjust prices accordingly.
Allocate discounts and promotions to different segments of customers, such as offering special rates to corporate clients or travel agents.
Continuously monitor and analyze performance, looking at metrics such as occupancy rates, revenue per available room, and average daily rate, to make informed decisions about pricing and capacity management.
Organization and methodology
• Write the answers of the case study on revenue management in report template provided by the faculty. The report has to be in Excel format.
• Deliver the project in the section provided in Moodle before the deadline.
Include:
1. RGI: calculate all the KPIs for all the hotels with the given data. After that provide a brief analysis explaining results of my hotel 1 and my hotel 2, positioning strategy of these hotels and if it is correct, in the space provided in the documents.
2. PROYECTION EXERCISE: you need to answer the questions in the given space and in the “Projection Data” sheet you need to fill in the grey columns doing a projection of the given month using your knowledge about the use of pick-up.
3. DEMAND CALENDAR: according to the scenario given in the calendar you need to explain what your positioning strategy would be to improve the performance of the month of January. Please answer in the space given and use the template given to provide your price suggestions.
Assessment tasks & weighting:
TASKS: Written project 90%
English Skills 10% (Rubric – Buy Custom College Essays Online: Pay for essay online over page)
Assessment Tasks Excellent Very good Good Pass Fail Zero Weight
100% 85% 70% 60% 40% 0% %
exercise 1
All results correct and coherent supported explanation. Correct use of excel. numerical results correct but weak analysis, too theoretical approach. Correct use of excel.
results with slight mistakes, but good analysis.
Incorrect use of excel.
Right calculations but with wrong use of data
Wrong results and wrong answers
No answers included
25%
exercise 2
All results correct and coherent supported explanation. Correct use of excel.
numerical results correct but weak analysis, too theoretical approach. Correct use of excel.
numerical results correct but weak analysis, too theoretical approach. Incorrect use of excel. calculations with good use of formulas but with slight calculation problems that influence analysis
Major errors and wrong or non-existent analysis.
No answers included.
37%
exercise 4
Coherent strategy supported by data Coherent strategy with slight error in supporting data
Coherent strategy with weak support of data
Good strategy with no support
wong strategy with wrong support
No answers included
25%
English
Fulfils the requirements and follows an acceptable style in the correct manner Fulfils most of the requirements and follows an acceptable style in a generally correct manner.
Attempts to follow an acceptable style and fulfils most of the requirements
Generally, attempts to conform to requirements and adequately executed
Does not meet a number of key requirements and fails to follow an acceptable style.
No references and disastrous presentation.
10%
Professional presentation
Fulfils the requirements and follows an acceptable style in the correct manner Fulfils most of the requirements and follows an acceptable style in a generally correct manner.
Attempts to follow an acceptable style
Generally, attempts to conform to requirements and adequately executed
Does not meet a number of key requirements and fails to follow an acceptable style.
disastrous presentation.
3%
English Skills Full Achievement
100%-85% Good
84%-75% Reasonable
74%-65% Adequate
64%-60% Fail
59%-0%
Coherence/Structure/Flow Writing is structured
Has a beginning & end Ideas are well connected Clear flow – easy to read
Effectively organised. Well-structured with good flow
Generally well organised.
Sometimes ideas are not linked together.
Structure could be better with clearer development for better reading
Shows some organisation – just enough to pass
Not clearly organised Difficult to follow
Relevant Use of Language Writing uses specific language used in hospitality asked for by assignment
Minimum errors – wide range of appropriate vocabulary
Good range of appropriate vocabulary
More than adequate range used
Uses limited variety of terms, and is often repetitive
Poor use or no use of specific terms
Appropriate Tone
Required use of either formal or informal style of writing
Appropriate tone throughout and reflects assignment requirements
Tone on the whole appropriate
Some inconsistent use of language
Not always appropriate therefore not entirely successful
Inappropriate tone used in most of the task
Clarity & Accuracy Writing is clear with no confusing areas
Extremely clear Well developed & expanded upon
Slight confusion due to minor inaccuracy. Ideas on the whole developed well.
Occasional confusion due to ideas not being clear but message is given.
At times, difficult to follow and/or repetitive
Difficult to read due to inaccuracies.
Impact/Effectiveness on Reader Impact on reader
Excellent
Very Positive
Positive
Satisfactory – just a pass
Poor effect on reader
Common skills: assessed (bold) or developed (italics):
MANAGING AND DEVELOPING SELF
1.Manages own role and responsibilities
2. Manages own time in achieving objectives.
3.Undertakes personal and career development
4. Transfers skills gained to new and changing
situations and contexts.
5.Uses a range of thought processes
WORKING WITH AND RELATING TO OTHERS
6.Treats others’ values, beliefs and opinions with
respect
COMMUNICATING
9.Receives and responds
to a variety of information
10.Presents information in a
variety of visual forms
11.Communicates in writing
MANAGING TASKS AND SOLVING PROBLEMS
13.Uses information sources
15.Identifies and solves routine and non-routine
problems
BECOMING NUMERATE AND USING TECHNOLOGY 16.Applies numerical skills and
techniques
Special instructions:
Ensure all tasks are complete by the deadlines indicated. If the task is not in the platform by the deadline date, the grade will be a 0.
Plagiarism
Plagiarism is the act of presenting another’s ideas or words as one’s own. Cheating includes, but is not limited to, the intentional falsification or fabrication of any academic activity, unauthorized copying of another person’s work, or aiding and abetting any such acts.
Particular care must be taken when presenting information that has been obtained from an internet site. Should this information not be correctly referenced, then you are guilty of plagiarism and will be penalized accordingly.
With respect to projects/assignments, faculty reserves the right to randomly call upon any student and ask them to defend their work orally.
Any assignment/exam which is found to contain plagiarism will automatically be awarded a grade of 0, and an e-mail will be sent to the student or the student’s parents/tutors/sponsors. Depending on the circumstances, additional penalties could be imposed
Statement of authorship
Following the title page of your assignment there should be a page on which you sign a statement that the work included in the assignment is your own work except where appropriately referenced. The following statement should be used:
Signed………………………………………….. Student number………………………………..
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