Assignment 2

Assignment 2 is designed to demonstrate your understanding of

Revenue Management the incorporate your learning from the past
modules! You may need to visit these modules if you have not
done so already!
Some helpful hints:
 This is not an academic report - but a business report. Writing a
report: https://www.skillsyouneed.com/write/report-writing.html
 By now, you should be working on Part 1 of the assignment. 
 Don't over complicate it!
 Make sure you are writing your memo in a professional format - as
what you would expect to see in the workplace.
 You made use bullet points - be sure to introduce your bullets - and
they must be relevant (i.e. just listing a bunch of revenue terms is not
acceptable - explain how you will use these). This page for example
uses bullet points, it is clear what the writer is saying.
 Be factual - stay away from "theory" - ask yourself - if you were
reading this memo - could you implement what the writer is telling
you to do:

Examples:

 Bad examples:    H

increase profits.  Explain - how to do this with strategie

The hotel is doing well/not well Prove this with the data- i.e. in comp

Provide good customer service    Review the modules - this is a Reven

Lower rates
By now you should have learned, tha
mean more revenue and more booki

Offer something free.... Will this really increase revenues? R

whatever your give! Be realistic. Stic
                         
Where should you start?
1. Start with reviewing your STR report. 
2. Look at the Occupancy column. Write down how you think the hotel is
performing based upon the data and based upon the index (be sure to
review Weeks 9 & 10)!
3. Now, move to ADR and do the same as above.
4. RevPAR - ask yourself - if this was my hotel, am I getting my fair
share? How is your hotel performing for the month and year?
5. Move to the % change table. Did we improve? When & Where?
6. What other questions do you have (beside the obvious - i.e. you know
where your hotel is located, you can see who the comp set is, what other
information would you want to discuss with the hotel team)? Think like a
manager... 

Summarize your findings. What conclusions can you make from the
data? You will not be able to do this if you have not completed and
watched the lectures - I recommend you do!
 Do not "repeat the numbers"
 Make sure you answer all 3 questions
 You do not have to write a novel - remember you are summ arizing:
o How is the hotel performing for the month and for the year?
o How is the hotel performing compared the competitors?
o What other information is important to understand, or ask the hotel?
o Demonstrate that you can interpret the data and problem and come up with
Revenue Management strategies to improve the business.

Make sure you read the Full Assignment! And don't forget
to read the rubrics! Assignments