This report provides a comprehensive analysis of Marriott's human resource (HR) and revenue management strategies within the travel and tourism industry. It begins with an introduction to revenue management principles, discussing pricing, product distribution, and the application of revenue management tools such as discount allocation, capacity utilization, PMS, booking engines, rate shoppers, and potential room rates. The report then delves into the HR aspects, exploring the HR life cycle, talent retention, and performance management plans. Furthermore, it examines relevant travel and tourism legislation, employment and contract law, and the importance of budgeting for business performance. The report also includes an overview of financial statements, key financial ratios and their implications for Marriott's operations. Overall, the assignment provides insights into the integrated approach of Marriott towards managing its resources to optimize profitability and customer satisfaction.
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