: Revenue Management Plan

Topic: Revenue Management Plan Order Description Project Overview: The students are required to develop a Revenue Management Plan for an opening of a hotel of their choice in French Speaking Part in Switzerland. Present your plan in the format of an executive summary with max 3 fact sheets attached. Use structured bullet points and a little essay format Overall aim: To enable students to demonstrate their understanding of the importance and function of revenue management. Develop a clear, coherent, and consistent revenue management strategy with all the specifics and objectives of the hotel - indicate clear and rational reasons/support/justification of the use of strategy and tools Reference: Academic source (except for the hotel description) Keep in mind: Goal is to see if the RM Strategy proposed is compatible – paint clear picture – with the type of hotel you created. o Type of Hotel (Branded, chain, individual), Location, Room category, number of rooms, features, amenities, USP (several), positioning, target markets (precise), age, use of distribution partners (OTA) o Marketing Segmentation – Target Market o Positioning o Pricing Strategy o Rate Structure (BAR, CORP, rate fences) o Marketing Strategy (not too detailed needed) Social Media Strategy o Capacity Strategy (allocation of inventory, duration controlling) o Optimal Distribution mix o Metrics to Measure (RevPar, ARR, OCC, GOPPAR, MPI and etc.) o The hotel's Comp set: How to choose comp set? How many you have? How do you use comp set for revenue management? o Forecasting (Upcoming events, seasonality, black out dates o How to monitor implementation and processes and adjustments (training, monitoring) o How to combat uncertain variables - inventory allocation, distribution management, arrival uncertainty, cancellation o Revenue Management Strategy (Risks, Alternatives, Solutions)