Pricing is one of the two strategic levers used to optimize revenue and is, arguably, the most critical component of Revenue Management suggesting that consumers are prepared to pay more to hotels delivering service excellence.
For this assignment, you are to write a 3,000 word Case Study Analysis that recommends a Revenue Management strategy for the financial year July 2017 — June 2018. You will prepare your analysis as if you were the Revenue Manager for the Four Seasons Hotel Sydney. The General Manager has already indicated his concern about the transparent nature of pricing and has requested that your strategy specifically addressing this.
Although this report is based on a real hotel and across a future period, it requires a strong theoretical framework with reference to the literature. It must also account for recent changes and predictable events in the area of revenue management. Current market analysis reports should be included as part of the overall strategy. You can use tables, charts, graphs to support your pricing strategy. Aspects that require critical consideration are:
An analysis of market segmentation
Competitor set Analysis
An analysis of the external environment