: 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)

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