HFT4413 Hospitality Analytics and Revenue Management RVC & RPC
The final project will be an individual assignment. Feel free to collaborate with other students, however, every student will have to turn in their own project consisting of their own work. If you collaborated on this project with other students please detail on the Title page who were your collaborators.
Interview a Hotel General Manager or Head of Revenue Management and find their revenue strategy for their property.
Who is their direct competition?
How do they make decisions regarding pricing, overbooking, and closeouts?
Your paper should go into detail about:
The value that the customer receives based on the price that they pay, and perceived benefit of staying in this property.
What is the Average Daily Rate (ADR) for the property, average occupancy %, the distribution channels that the property uses, and their market segmentation mix (Transient, group, and special contract and negotiated rates)?
What is the average RackRate for this property and the usual discount that is given in season, versus outofseason?
You also must relate what you learn from the interview back to the book and back to journal articles that you find.
You should also go into detail about the company, this information should be found on their website or in articles. I want to feel like I am learning something not only about their pricing but also about the company, the industry, and their competition.
It is understandable that some of this information will be proprietary and confidential so general information will be acceptable and they do not need to go into full details if they are not comfortable with that.
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