Revenue Management Plan

Revenue Management Plan

The students are required to develop a Revenue Management Plan for an opening of a hotel of their choice in Switzerland. Present your plan in the format of an executive summary with max 3 fact sheets attached. VERY IMPORTANT ? Precise description of a hotel – Straight to the point – Bullet Point is allowed – Provide with rich information – YOU WILL FAIL IF YOU DON?T GIVE AN ACCURATE DESCRIPTION OF YOUR HOTEL! Clear Consistent & Coherent revenue management strategy. Prove It! By showing distribution mix, social media, rate structure, rate fences, any means of capacity management. A clear implementation process DO NOT PUT PICTURES! OUTLINE HOTEL DESCRIPTION – Category – Location – Features – Amenities – No of rooms – Different room categories – Banqueting halls, Spa, Event Halls or no? – USP ? unique selling point – Positioning – Target Markets ? clear defined target markets – General ? use of distribution partners REVENUE MANAGEMENT STRATEGY DO NOT WRITE THE STRATEGY IS TO MAXIMIZE REVENUE – Indicate your overall pricing strategy – Capacity Management Strategy ? Inventory allocation & Control of Duration – Revenue Management Tools Applied – Forecasting (Not the method because he assumes you use an RM system) – Events, Seasonality, Flight Schedules, Blackout Dates – Pricing Structure/ Rate Structure ? Rate fences applied ? – Market Segmentation ? detailed breakdown of market segments, transient, groups, corporate, contract. (This is where you need your word count!!) – Optimal Distribution Mix – Social Media Strategy ? do you plan to do revenue management on social media – Comp Set – How you define your comp set? (Which criteria) – How much will it impact your revenue management strategy? IMPLEMENTATION (How will you apply this to YOUR HOTEL not in general) – Measures used? RISK ASSOCIATED with this revenue management strategy?


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