Revenue Management Theories & Management, Rates, Staffing, Marketing - Financial Statements, STR Report Writing - Management Assignment Help

Assignment Task -                 
 

Revenue Management

The report applies Revenue Management theories in a simulated hotel program called HOTS. The virtual hotel has four departments: Revenue Management, Rates, Staffing, and Marketing. Students are divided into groups of four and each group member chooses responsibility for one of the four departments. Like all games, you need to make decisions (in this case, numbers!) but only for your chosen department. The simulation allows groups to compete against each other on monthly basis. Performance reports (Financial Statements, STR report, and Balanced Scorecard) will be automatically created at the end of each month which shows your team’s overall performance compared to other teams. These reports help to identify problems in the decisions you have made in the last month and suggest changes that might be made in the current month.

Although the simulation is played in groups, each group member-only applies his/herself to their selected responsibility when writing the report. 

The report contains two parts:

(1) Planning for the decisions of each responsibility;

(2) Revising the decisions.

Part (1) requires you to put numbers to all the decisions for the first half of year 1 (from January to June). High marks depend on how clearly the numbers are presented, described, and explained. You are required to refer to sources of the numbers/ information and show any calculation procedure. Planning for the period from July to December of year 1 should be presented in the Appendices with no explanation of the numbers needed.

The following tips are extremely helpful to Part (1) because they contain important information for calculating the parameters:

• Review all HOTS notes;

• Review the case company’s background, financial and non-financial indicators of year 0;

• Think about the impacts of other departments on your own.

Part (1) should be completed before the HOTS competition, to avoid any frustration you may experience at the start of the competition.

Part (2) requires you to write any three months during the competition when your decisions as planned in Part (1) have to be changed. For each selected month, you need to cover the following issues: (a) Use relevant financial/operation ratios and STR reports to identify the problems with the performance of the previous month; (b) Based on that, state clearly what decisions made (as originally planned in Part 1) during the current month need changing and how they are changed; and (c) Use financial/operation ratios and STR reports to evaluate whether and how the changes made are successful.

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