Revenue Management

Order Description You are the revenue manager for a Hotel based in a middle-sized city. You have received the latest STR reports for the property covering the last 28 days: 1. Provide definitions of the below metrics and show how these are typically calculated: a. Occupancy b. ADR c. RevPAR 2. Based on the STR reports provided, provide 3 key findings about how the hotel is performing against its competitors. Identify the 2 worst performing days of the month and potentially why. 3. Show or describe 2 other ways to analyse competitors. 4. List and describe 5 yield management strategies and how you could use to improve this property. 5. Identify 3 different key stakeholders in the property that you will need to communicate your yield management strategies with. For each different stakeholder provide an overview of how you would communicate with them, the information you need to share and what assistance you need from them. 6. Determine 2 other areas of the hotel (not rooms) where you can implement revenue or yield management strategies. Provide 3 examples of strategies you could use.