HFR603 Hotel Finance and Revenue

HFR603 Hotel Finance and Revenue
Task Summary Please refer to the Assessment Brief for details on how to complete this task. Data Set Consider you are the revenue manager for any 5‐star hotel located in either Sydney, Melbourne or Adelaide. The past year and a half have certainly been difficult, to say to least, for the overall industry. There seem to be some rebound, especially from domestic tourism, but the continuous lockdowns are wearing down both hotels and hotel demand. Your general manager has provided you with a trend report from STR and has asked you to analyse and evaluate the past 5 years for your city’s performance, focusing notably on the impact of COVID‐19 on the overall industry performance in the city in the last 18 months (March 2020 onwards)Furthermore, you have to provide at least two (2) recommendations, based on STR data, to improve your hotel revenue generation. Instructions: You must pick one 5‐star hotel in either Sydney, Melbourne or Adelaide. Hotels can only be used by one student. If a student has already selected your hotel, you will need to choose another one. Check with your lecturer to know which hotels have been selected already. You must calculate missing figures highlighted in yellow in the table above, to two decimal points. Calculations that are not accurately rounded will not receive full marks. Add the table in your report. You may show your calculations in an  Analyse and evaluate your city’s overall performance for the past five years using the STR Trend report. Focus on occupancy, ADR, RevPAR and revenue as performance measures.  Provide a separate paragraph on the past year and a half (from March 2020 to now).  Propose two (2) revenue management recommendations for your hotel. These must be grounded in your analysis and evaluation, and use data as support, explaining why the hotel should implement them.  These could be linked to segmentation, pricing, inventory management, product definition and development, competitor benchmarking, distribution management, etc. Remember: When writing your recommendations, use the SMART acronym and make sure that they are specific. Broad or generic recommendations will be dismissed by your manager as they would not be applicable.  Inventory management relate to room inventory, not F&B inventory. They include length‐of‐stay controls and restrictions, cancellations policies, credit card and deposit, overbooking and many others. Be original and creative in your application of these controls.
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