Marriott Rooms Forecasting

  Read the case form Weatherford and Bodily (1989), Marriott rooms forecasting. Darden Business Publishing. (UVO353), which concentrates on the manager of a large downtown hotel who must decide whether to accept 60 additional reservations. If she accepts, she will be overbooked and face certain costs if all the reservations show up. She must forecast, based on historical data, how many of the people holding reservations will show up and then decide whether to take the additional bookings after considering the cost involved. The case is used to treat time-series forecasting methods in hotels. Overall aim: The students are expected to demonstrate their skills in analyzing and forecasting demand data, propose solutions that will improve revenue and produce a report that provides solid analysis for evidence to be employed in decision-making related to revenue management. Learning outcomes (from the CRS): 1. Solve demand-management decision making in terms of volume forecasting and product pricing 2. Review profiling attributes and consumer behavior within market uncertainty to identify customer distribution channels 3. Manage short and long-term revenue management techniques at an operational and strategic level Course Title: Revenue Management Course Number: M01E943 Faculty: Alain Gervaix Semester: 2018.2 2 Organization & methodology: Analyze the case and give recommendations to the manager about the request for 60 reservations. Structure Comment Title Page Assignment Title, your first name and last name, course name, date, University name (GIHE) Table of contents Properly formatted with page numbers List of tables and list of figures Not the actual tables or figures, but the numbered list with table and figure titles and page numbers where they appear in the text 1. Background and case issue Provide the key elements of the case leading to the identification and formulation of the case issue 2. Analysis of the problem  Identify the available data, structure and scope, and the forecasting methods suitable for solving the case problem.  Compare the methods used, giving their advantages and disadvantages and the reasons for choosing them (refer to cited sources)  Assess and compare the results against selected criteria (e.g. forecast accuracy) 3. Recommendations Recommend the best decision based on your analysis and assess the risks associated with the decision References APA Word count and format: The assignment should be no more than 2500 words. Times New Roman or Arial 12 point, 1.5 or doublespaced and with margins of 2.5cm all around. Use the above outline and number the pages of your document. Number and name the figures and tables in the text and report these in the list of figures and tables. These can alternatively be placed in appendix if they take too much space in the text. When citing sources, use APA format, latest edition, in the text and in the reference list.