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.
Project Description:
¥ Interview a Hotel General Manager or Head of Revenue Management and find their revenue strategy for their property.
¥ Explain in a 8‐9 page paper how the interviewee has come to make the decisions regarding the strategy (STAR reports, cold calling, internet searches) {8‐9 pages will be of the Main Body, not the total length of the paper}.
¥ 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 Rack‐Rate for this property and the usual discount that is given in season, versus out‐of‐season?
¥ 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.
APA Style:
This paper must be in APA style. If it is not it will automatically lose 20%. Please follow the APA style guide located on the Purdue Website (https://owl.english.purdue.edu/owl/resource/560/01/). If the paper is missing any one of these guidelines it will be marked incorrect. I do not want you to lose 15% for not having an abstract, or a title page, or a work cited page. Please if you have any questions ask me, I will be happy to answer any questions before the deadline. More information regarding APA style is listed under Grading.
Project Justification:
I am trying to get you to have an idea of how real life revenue controllers do their jobs and make money for the property. Also by going to properties that you may work for, or may want to work for and asking these questions might help get a foot into the door for an internship possibility. Also find out if the GM or RM would be interested in being a guest speaker this semester or in semesters in the future.
Deadline: April 8, 2018 11:59PM – The paper will not be accepted late!
Grading: The paper will be graded on 2 Rubrics. There is also semester long weekly APA assignment that should help you to prepare for this Assignment. The paper will be graded 20% on an APA style rubric and 80% on a Content Rubric. The weekly APA Assignment that consists of 14 1-4 Question quizzes that will be worth 2% on your final grade. The answers to the quizzes relate to many of the sections in the APA rubric so if you do well on these very simple quizzes you will have no problems with APA style on the project.
