MAN703: Revenue Management Guide to using RevSIM - Accounting and Finance Assignment Help

Assignment Task:

Task:

What is RevSim?

? Simulation
imitation of a real world process, system, market, event.

? RevSim - Cloud based simulation software
? Set number of hotels competing for market share
? Compete to construct, promote and deliver competitive price/value proposition to the market

Meet RevSim – The Rooms Forecast

• Rooms Available Days in Forecast
• Estimated Market Demand the unconstrained demand
• Fair Share – all things being equal, this is the number of rooms for each customer segment you can expect to “sell” if you attract your fair share of business
• You want to steal fair share from other participants in the market. You do this by offering the customers what they value at a price they see as fair
• Estimated Pickup what does history and your research tell you
• This market is in Melbourne

Your bid should include:
1. The rationale for the package you are offering – or rationale for the room price and dinner price separately if that is how you are presenting your bid.
2. Explain how you will adjust your forecast if you are awarded this business. For example, what business will you need to displace? Will you forecast
for a higher occupancy? Will you adjust other decisions such as advertising and food and beverage forecasts?

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