Revenue Management: Strategy and Key Performance Summary

Revenue management
strategy and key performance
summary

INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
PART 1........................................................................................................................................3
Brief description about hotel chain to be open............................................................................3
Business climate over the chosen location..................................................................................3
STP Model...................................................................................................................................3
Pricing policy used by hotel........................................................................................................4
Distribution channels...................................................................................................................4
CONCLUSION................................................................................................................................5
REFRENCES...................................................................................................................................6

INTRODUCTION
Revenue management is the process by which an organization or hotel has been able to
manage its finances in more effective manner. This system is one of the most effective part of
making working to be done in proper manner. Such management results in making optimum
utilization of resource possible in more effective manner. This system is based over managing of
financial resources. Also this helps in maintaining hotel and its finances in more effective
manner. In this file hotel to be considered is St.Regis by Marriot and the location that has been
taken is South Carolina Hilton head island and the hotel property is St.Regis. Things to be
covered within the file is based over location, market segments, brief description about hotel and
in the end rooms pricing policy with distribution channel description is covered.
MAIN BODY
PART 1
Brief description about hotel chain to be open
The chain of hotel that has been chosen is St.Regis hotel which is sub brand of Hilton
hotel. It is a luxurious resort hotel located within south Carolina Hilton head island USA. It
contains 350 rooms with luxurious services. It seeks expansion within South Carolina Hilton
Head Island US that is new location (Al-Khalaf and et. al. 2020).
Business climate over the chosen location
The chosen location for the hotel is south Carolina Hilton head island USA. Since hotel is
new at the location and required to expand itself on this location. There are various challenges
that is required to be faced by them which are trends existing in society, quality of services and
maintaining of proper management between staff members. Also various other challenges like
technological factor and innovation is required to be observed since it makes growth of hotel
impacted in more effective manner. Also these challenges should be kept in mind since
expansion is required to be made by hotel (Albats, Fiegenbaum and Cunningham, 2018).
STP Model
This is one of the most important is a framework which help in simplification within
market segmentation process. Under it a organization or hotel requires to make segmentation of