Revenue Management of Hotels

Added on - 21 Apr 2020

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Running head: REVENUE MANAGEMENT OF HOTELSRevenue Management of Selected HotelsName of the University:Name of the Student:Authors Note:
1REVENUE MANAGEMENT OF HOTELSTable of ContentsQuestion 1............................................................................................................................2Question 2............................................................................................................................2Question 3............................................................................................................................3Question 4............................................................................................................................4Question 5............................................................................................................................5Question 6............................................................................................................................66.1. Revenue Management Measure in Slower Demand than Anticipated.....................66.2. Revenue Management Measure in Higher Demand than Anticipated.....................6References............................................................................................................................8
2REVENUE MANAGEMENT OF HOTELSQuestion 1The city Hobart is selected for selected in this paper of revenue management due toseveral reasons. Hobart city has experienced 70% growth in number of nights stayed by thevisitors. This is equal to 32% of the visitors night resided within the state by the international andnational visitors (Abrate and Viglia 2016). Moreover, revenue management of the selected hotelsin Hobart is considered for the reason that it also experienced 72% growth in visitor’s nights.Moreover, the hotels also experienced growth in accommodation supply and growth in demand.Over the past few years, number of rooms and available and accommodation stock has increasedby 20%. In addition, this city is also deemed to be suitable for evaluation as due to the seasonalnature of the hotel industry, Hobart city is attaining increased capacity with yearly averageoccupancy rate of 76%. In addition, at the time of economic uncertainty, Hobart city served asonly capital city to indicate growth in revenue from hotels recording 3.4% growth in comparisonto -8.2% national averages (Akan, Ata and Dana 2015). Hobart city is deemed to followappropriate revenue management as the city has grown at an average of 70 rooms each year forover the past seven years.Question 2Lbis Style Hobart, Hadleys Orient Hotel and Wrest Point hotels are considered as thecompetitor set of the selected Best Western Hobart Hotel for numerous reasons. Numerouscategories of hotels are observed to be present in the Hobart region in Australia (Arenoe, van derRest and Kattuman 2015). These hotels are quite different from one another considering theareas of services and quality provided by them. Conversely, there are some aspects that remaincommon between the selected hotel and the competitor hotels due to which these are selected in
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