In this assessment, you will prepare a report as if you were the revenue management for the PIER ONE SYDNEY HARBOUR HOTEL. After your hotel’s renovations (MARCH to OCTOBER), you are asked to present a report to your general manager that RECOMMENDS a revenue management STRATEGY for the PERIOD 01st NOVEMBER 2016 – 31st JANUARY 2016. The general Manager has already indicated her interest in comparing the distribution channels used before and after the renovations (has there been a change?). she also needs your help PLANNING the ChHRISTMAS and NEW YEAR PRICING STRATEGY.Aspects that require CRITICAL CONSIDERATION ARE:
1. *** DETERMINE the hotel’s competitor set (750 words) (CHOOSE 5 competitors, CRITICALLY ANALYZE the competitors of the chosen hotel and explain and argue. e.g. similar product, similar level of service, similar location, similar target market. USE GRAPHS, TABLE. MAKE IT STAND OUT FOR MARKER)
2. *** CRITICALLY ANALYZE the hotel’s market segmentation (ONLY Pier ONE) (FIND 10 MARKET SEGMENTS LINKING TO PIER ONE, e.g. FIT, Contracts, Loyalty members and etc. if BUSINESS TRAVELLERS is chosen, FIND 3 COMPANIES and critically explain WHY you choose the company)
3. *** DESCRIBE the hotel’s distribution channel strategies (ONLY PIER ONE) (FIND 10 DISTRIBUTION CHANNEL. If OTA is chosen, choose ONLY 3. e.g Bookings.com, Agoda.com and etc.)
4. *** PREPARE a pricing forecast (ONLY PIER ONE) (GO IN DEPTH, CRITICALLY ANALYZE THE PRICE AND EXPLAIN USING GRAPHS, CHARTS, TABLES (EXPLAIN why did you set the price at that amount during this period)NOTES – Although this report is based on a real hotel and across a current time period. It REQUIRES a STRONG theoretical framework with REFERENCE to the literature. It must also account for the recent renovation works and predictable events in the area. CURRENT MARKET ANALYSIS report should be used as part of the OVERALL strategy.
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