Assessment title: RevSim Assignment
Programme: BBA 7
Course name: Revenue and Pricing Management
Course number: RDM 4134
Faculty responsible: Mr. Riccardo Campione
Hand out date: Week 7
Due date: Week 12
Project Overview: The students should develop a rationale for the given RevSim strategy and link it to existing academic research. Thereafter, the students should critically reflect on the difficulties of revenue management in terms of pricing and maximising revenues.
Overall aim: To enable students to demonstrate their understanding of the importance and function of pricing management and talk the talk of Revenue Managers.
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.
3. Plan strategies for tackling occupancy and capacity problems.
Organisation and methodology
Critically analyse the given RevSim simulation.This project can be conducted on your own or with a peer student and a written report has to be produced.
Word count: Not to exceed 1.000, (tolerance max 10%, anything above or less will lead to mark deduction)
Library, books, magazines, and Internet
Assessment tasks & weighting:
TASKS: Written project 80%
Appropriate referencing 10%
Appropriate English 10%
Common skills: assessed (bold) or developed (italics):
Ensure all tasks are complete by the deadlines indicated
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 penalised accordingly.
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.
Assessment Feedback Master
The overall goal of this report is a roadmap of your hotel in the revenue simulation, that will help you take advantage of revenue opportunities and avoid potential limitation considering competition and market situation (all necessary documentation can be downloaded on the reports tab in your revenue simulation).
We recommend organizing your paper around the following framework that will help measure the important factors that are critical to your hotel revenue strategy.
1) INTRO: The opportunities for your hotel. Looking at the information received what kind of hotel you are going to be: Define your customers (use RevSim reports), why are you choosing them, how quickly your segment can grow and what are the limitations you might face (days of the week, channels, compatibility with others, investment, etc.)Write about the big picture, owners briefing report, seasonality trends, are the city government doing or building something how does affects your strategy, quarter by quarter, economic situation, recession, etc. Essentially factors
that will change and how they link up with your decision making process.
2) Y1 and Y2. Write in details of what happened using reports and graphs about the first and second year of your hotel simulation. An examination of the unexpected, explains everything that went wrong and right, and how your hotel had responded and follow through. Organise your sentences as if you were a Revenue Manager explaining to GM/Owner of the Hotel.
3) CONCLUSION: Write about you key findings (bullets points might be used) about the main solutions going forward .
Please note that when explaining your key concepts any successful link between data find and decision making process will be considered a bonus point.