I have an assignment in master program in international hotels management. The course is revenue management.
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1 PROJECT OUTLINE Assessment title: Case Study on Revenue Management Programme: MEIHM Course name: Revenue and Pricing Management Course number: M 9116 Faculty responsible: Ms. Montero Hand out date: 4th January 2023 Due date: 22nd January 2023, 23:59hrs. Weighting: 60% Project Overview: The students should answer a case study on Revenue Management provided by the faculty. The students will need to provide a report with the answer to exercises about RM recommendations and reports. Overall aim: To enable students to demonstrate their understanding of the importance and function of Revenue Management. Learning outcomes: 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. Organization and methodology ? Write the answers of the case study on revenue management in report template provided by the faculty. The report has to be in Excel format. ? Deliver the project in the section provided in Moodle before the deadline. If you have any problem with the submission in the platform, make sure that you send a copy by mail to your teacher (email@example.com) before the deadline.
2 Include: 1. RGI: calculate all the KPIs for all the hotels with the given data. After that provide a brief analysis explaining results of my hotel 1 and my hotel 2, positioning strategy of these hotels and if it is correct, in the space provided in the documents. 2. PROYECTION EXERCISE: you need to answer the questions in the given space and in the Projection Data? sheet you need to fill in the grey columns doing a projection of the given month using your knowledge about the use of pick-up. 3. DEMAND CALENDAR: according to the scenario given in the calendar you need to explain what your positioning strategy would be to improve the performance of the month of January. Please answer in the space given and use the template given to provide your price suggestions. Assessment tasks & weighting: ?? TASKS: Written project 90% ?? English Skills 10% (Rubric over page) Assessment Tasks Excellent Very good Good Pass Fail Zero Weight 100% 85% 70% 60% 40% 0% % exercise 1 All results correct and coherent supported explanation. Correct use of excel. numerical results correct but weak analysis, too theoretical approach. Correct use of excel. results with slight mistakes, but good analysis. Incorrect use of excel. Right calculations but with wrong use of data Wrong results and wrong answers No answers included 25% exercise 2 All results correct and coherent supported explanation. Correct use of excel. numerical results correct but weak analysis, too theoretical approach. Correct use of excel. numerical results correct but weak analysis, too theoretical approach. Incorrect use of excel. calculations with good use of formulas but with slight calculation problems that influence analysis Major errors and wrong or non-existent analysis. No answers included. 37% exercise 4 Coherent strategy supported by data Coherent strategy with slight error in supporting data Coherent strategy with weak support of data Good strategy with no support wong strategy with wrong support No answers included 25% English Fulfils the requirements and follows an acceptable style in the correct manner Fulfils most of the requirements and follows an acceptable style in a generally correct manner. Attempts to follow an acceptable style and fulfils most of the requirements Generally, attempts to conform to requirements and adequately executed Does not meet a number of key requirements and fails to follow an acceptable style. No references and disastrous presentation. 10%
3 Professional presentation Fulfils the requirements and follows an acceptable style in the correct manner Fulfils most of the requirements and follows an acceptable style in a generally correct manner. Attempts to follow an acceptable style Generally, attempts to conform to requirements and adequately executed Does not meet a number of key requirements and fails to follow an acceptable style. disastrous presentation. 3% Common skills: assessed (bold) or developed (italics): MANAGING AND DEVELOPING SELF 1.Manages own role and responsibilities 2. Manages own time in achieving objectives. 3.Undertakes personal and career development 4. Transfers skills gained to new and changing situations and contexts. 5.Uses a range of thought processes WORKING WITH AND RELATING TO OTHERS 6.Treats others values, beliefs and opinions with respect COMMUNICATING 9.Receives and responds to a variety of information 10.Presents information in a variety of visual forms 11.Communicates in writing MANAGING TASKS AND SOLVING PROBLEMS 13.Uses information sources 15.Identifies and solves routine and non-routine problems English Skills Full Achievement 100%-85% Good 84%-75% Reasonable 74%-65% Adequate 64%-60% Fail 59%-0% Coherence/Structure/Flow Writing is structured Has a beginning & end Ideas are well connected Clear flow ? easy to read Effectively organised. Well-structured with good flow Generally well organised. Sometimes ideas are not linked together. Structure could be better with clearer development for better reading Shows some organisation ? just enough to pass Not clearly organised Difficult to follow Relevant Use of Language Writing uses specific language used in hospitality asked for by assignment Minimum errors ? wide range of appropriate vocabulary Good range of appropriate vocabulary More than adequate range used Uses limited variety of terms, and is often repetitive Poor use or no use of specific terms Appropriate Tone Required use of either formal or informal style of writing Appropriate tone throughout and reflects assignment requirements Tone on the whole appropriate Some inconsistent use of language Not always appropriate therefore not entirely successful Inappropriate tone used in most of the task Clarity & Accuracy Writing is clear with no confusing areas Extremely clear Well developed & expanded upon Slight confusion due to minor inaccuracy. Ideas on the whole developed well. Occasional confusion due to ideas not being clear but message is given. At times, difficult to follow and/or repetitive Difficult to read due to inaccuracies. Impact/Effectiveness on Reader Impact on reader Excellent Very Positive Positive Satisfactory ? just a pass Poor effect on reader
4 BECOMING NUMERATE AND USING TECHNOLOGY 16.Applies numerical skills and techniques Special instructions: Ensure all tasks are complete by the deadlines indicated. If the task is not in the platform by the deadline date, the grade will be a 0. Plagiarism Plagiarism is the act of presenting anothers ideas or words as ones own. Cheating includes, but is not limited to, the intentional falsification or fabrication of any academic activity, unauthorized copying of another persons 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 penalized accordingly. With respect to projects/assignments, faculty reserves the right to randomly call upon any student and ask them to defend their work orally. Any assignment/exam which is found to contain plagiarism will automatically be awarded a grade of 0, and an e-mail will be sent to the student or the students parents/tutors/sponsors. Depending on the circumstances, additional penalties could be imposed (see LRM Academic Regulations, Section 11). 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. Signed????????????????.. Student number????????????..
REVENUE MANAGEMENT (RMD P138) Faculty Rocío Montero, Cristina López, Julia Krebs, Constança Souta Semester Autumn 2022 E-mail firstname.lastname@example.org Credits: 2 credits (30 hours) This is a 2 credit course, equivalent to 30 hours of work. This course is self-paced, based on materials that the student will need to cover and then practice on given assessments. Les Roches Marbella assigns credit hours based on the number of hours that the student needs to achieve the course learning outcomes, always considering the number and type of assignments in such course. Some variability may be expected, as with face-to-face courses, depending on the level of the student, previous knowledge on the topic, and learning style. Course Description: Revenue Management strategy could be considered as critical for hotel operations. This subject provides students an overview of revenue management for the hotel industry in terms of a process created to increase revenue. Demand, reservation scheduling and variable pricing are important variables to be understood by the student. Additionally the students will be given foundation in strategies and models such as, pricing models, forecasting, group management and overbooking or pricing strategy among others. Learning Outcomes: 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. Explain customer profiling, the YM best practices and the role of information support systems. 4.Apply the principles of revenue management to F & B operations. Course Overview: Being a self-paced course will do readings and various exercises to reinforce and apply key concepts. The student is expected to engage in the program by participating, supporting them with previous experience, ask questions, attending Q&A sessions and helping their classmates during the learning process. During the online part, students are expected to read several articles that the teacher will provide and participate in several discussion forums. Student will also work on both a group individual project following the assessment guidelines.
Page 2 High levels of interaction are expected on the part of the students, as well as a hands-on approach. The assessments have been created to evaluate the level of comprehension of the topic, synthesizing and analyzing real life examples useful for its application in future situations. . Course Materials: The compulsory readings and materials for the course will be posted in Moodle along the course. Scheme of Work: Topic Content Method (Campus & Moodle) Hours 1. Course presentation Syllabus, SOW, Assessment strategy, Moodle Information reading on Moodle 0.5 2. Introduction to RM Customer centricity and ideal approach of a revenue manager Readings, videos and infographic submission. 2.5 3. KPI monitorization How to use KPI? Whats benchmarking? Readings 4.00 Quiz on Moodle. 0.5 4. Forecasting Understanding the demand and methods to forecast and its importance Readings and videos 4,00 Exercises on Moodle 3.5 Quiz on Moodle 0.5 5. Pricing Pricing strategies. How to link price to availability. Yieldable and non-yieldable business. Readings and videos 3,00 Quiz on Moodle 0,50 6. Segmentation Why do we segment? Readings and videos 1,00 Exercises on Moodle 0,50 7. Distribution Strategies of distribution. How to optimize distribution? Distribution motorization tools. Readings and videos 3,00 8. Group management How to do the best choice? Readings and videos 2.50 Exercises on Moodle 0,50 9. Restaurant revenue management Restaurant revenue management strategies Readings and videos 1.00 Exercises on Moodle 0,50 10. Closing All contents Final written project 2,00
Page 3 Assessment Strategy: ASSESSMENT FILE Assignments Final project Ongoing quizzes Infographic 60% 20% 20% Evaluation: Initial infographic taking as base an example of revenue management that is not related to a hotel or a restaurant. Quizzes will be opened along the course. the student will have a maximum of two attempts per quiz to achieve the passing grade of a 6. The final project will be a combination of theoretical-practical approach to evaluate comprehension and analysis levels. Comments: Scheme of work is subject to changes, once the level of the group is assessed.
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