Revenue Management

Weighting: 60%

Project Overview: The students should answer a case study on Revenue Management

provided by the faculty. The students will need to provide a report with

the answer to exercises about RM recommendations and reports.

Overall aim: To enable students to demonstrate their understanding of the importance

and function of Revenue Management.

Learning outcomes:

1. Identify the principles of revenue and yield management.

2. Discuss, demonstrate and apply demand management strategies, pricing, capacity management, discount allocation, forecasting and other associated procedures essential

to successful Yield Management.

Organization and methodology

• Write the answers of the case study on revenue management in report template

provided by the faculty. The report has to be in Excel format.

2

Include:

1. RGI: calculate all the KPIs for all the hotels with the given data. After that provide a brief analysis explaining results of my hotel 1 and my hotel 2, positioning strategy of these hotels and if it is correct, in the space provided in the documents.

2. PROYECTION EXERCISE: you need to answer the questions in the given space and in the “Projection Data” sheet you need to fill in the grey columns doing a projection of the given month using your knowledge about the use of pick-up.

3. DEMAND CALENDAR: according to the scenario given in the calendar you need to explain what your positioning strategy would be to improve the performance of the month of January. Please answer in the space given and use the template given to provide your price suggestions.

Assessment tasks & weighting:

▪ TASKS: Written project 90%

▪ English Skills 10% (Rubric over page)

Assessment Tasks

Excellent Very good Good Pass Fail Zero Weight

100% 85% 70% 60% 40% 0% %

exercise 1

All results correct and coherent supported explanation. Correct use of excel.

numerical results correct but weak analysis, too theoretical approach. Correct use of excel.

results with slight mistakes, but good analysis. Incorrect use of excel.

Right calculations but with wrong use of data

Wrong results and wrong answers

No answers included

25%

exercise 2

All results correct and coherent supported explanation. Correct use of excel.

numerical results correct but weak analysis, too theoretical approach. Correct use of excel.

numerical results correct but weak analysis, too theoretical approach. Incorrect use of excel.

calculations with good use of formulas but with slight calculation problems that influence analysis

Major errors and wrong or non-existent analysis.

No answers included.

37%

exercise 4

Coherent strategy supported by data

Coherent strategy with slight error in supporting data

Coherent strategy with weak support of data

Good strategy with no support

wong strategy with wrong support

No answers included

25%

English

Fulfils the requirements and follows an acceptable style in the correct manner

Fulfils most of the requirements and follows an acceptable style in a generally correct manner.

Attempts to follow an acceptable style and fulfils most of the requirements

Generally, attempts to conform to requirements and adequately executed

Does not meet a number of key requirements and fails to follow an acceptable style.

No references

and disastrous

presentation.

10%

3

Professional presentation

Fulfils the requirements and follows an acceptable style in the correct manner

Fulfils most of the requirements and follows an acceptable style in a generally correct manner.

Attempts to follow an acceptable style

Generally, attempts to conform to requirements and adequately executed

Does not meet a number of key requirements and fails to follow an acceptable style.

disastrous presentation.

3%

Common skills: assessed (bold) or developed (italics):

MANAGING AND DEVELOPING SELF 1.Manages own role and responsibilities

2. Manages own time in achieving objectives.

3.Undertakes personal and career development

4. Transfers skills gained to new and changing situations and contexts.

5.Uses a range of thought processes

WORKING WITH AND RELATING TO OTHERS

6.Treats others’ values, beliefs and opinions with respect

COMMUNICATING

9.Receives and responds to a variety of information

10.Presents information in a variety of visual forms

11.Communicates in writing

MANAGING TASKS AND SOLVING PROBLEMS

13.Uses information sources

15.Identifies and solves routine and non-routine problems

English Skills Full Achievement 100%-85%

Good 84%-75%

Reasonable 74%-65%

Adequate 64%-60%

Fail 59%-0%

Coherence/Structure/Flow Writing is structured Has a beginning & end Ideas are well connected Clear flow – easy to read

Effectively organised. Well-structured with good flow

Generally well organised. Sometimes ideas are not linked together.

Structure could be better with clearer development for better reading

Shows some organisation – just enough to pass

Not clearly organised Difficult to follow

Relevant Use of Language Writing uses specific language used in hospitality asked for by assignment

Minimum errors – wide range of appropriate vocabulary

Good range of appropriate vocabulary

More than adequate range used

Uses limited variety of terms, and is often repetitive

Poor use or no use of specific terms

Appropriate Tone Required use of either formal or informal style of writing

Appropriate tone throughout and reflects assignment requirements

Tone on the whole appropriate

Some inconsistent use of language

Not always appropriate therefore not entirely successful

Inappropriate tone used in most of the task

Clarity & Accuracy Writing is clear with no confusing areas

Extremely clear Well developed & expanded upon

Slight confusion due to minor inaccuracy. Ideas on the whole developed well.

Occasional confusion due to ideas not being clear but message is given.

At times, difficult to follow and/or repetitive

Difficult to read due to inaccuracies.

Impact/Effectiveness on Reader Impact on reader

Excellent

Very Positive

Positive

Satisfactory – just a pass

Poor effect on reader

4

BECOMING NUMERATE AND USING TECHNOLOGY

16.Applies numerical skills and techniques

Special instructions: Ensure all tasks are complete by the deadlines indicated. If the task is not in the platform by

the deadline date, the grade will be a 0.

Plagiarism Plagiarism is the act of presenting another’s ideas or words as one’s own. Cheating includes,

but is not limited to, the intentional falsification or fabrication of any academic activity,

unauthorized copying of another person’s work, or aiding and abetting any such acts. Particular care must be taken when presenting information that has been obtained from an

internet site. Should this information not be correctly referenced, then you are guilty of plagiarism and will be penalized accordingly.

With respect to projects/assignments, faculty reserves the right to randomly call upon any

student and ask them to defend their work orally. Any assignment/exam which is found to contain plagiarism will automatically be awarded a

grade of 0, and an e-mail will be sent to the student or the student’s parents/tutors/sponsors. Depending on the circumstances, additional penalties could be imposed (see LRM Academic

Regulations, Section 11). Statement of authorship Following the title page of your assignment there should be a page on which you sign a statement that the work included in the assignment is your own work except where appropriately referenced. The following statement should be used:

Statement of authorship I certify that this assignment is my own work and contains no material which has been submitted as part of an assignment in any institute college or university. Moreover, to the best of my knowledge and belief, it contains no material previously published or written by another person, except where due reference is made in the text of the assignment.