Essays on Revenue Management Takes Its Next Step Case Study

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The paper "Revenue Management Takes Its Next Step" Is a great example of a Management Case Study. In this report, the forecasting procedure of Hamilton hotel will be the most important thing to take note of. This will be guided through the report by also finding the appropriate forecasting method to be used in order that the Marriot Group of the company is able to maximize the revenue allocation. Over the years the company had been facing problems in the revenue management in the hotels and resorts all over its territorial regions around the globe.

The report seeks to find the best procedural and computerized system that can be used in the forecasting so as to be able to manage the large database used in the company since the manual analysis on data is the biggest problem in the Marriott Hotels. I am going to use both long term and short term methods of forecasting in this report. The forecast concentrated on the booking and demands of the hotels and the resorts. Introduction Marriott Corporation manages Hamilton hotel which has 180 restaurants and hotels around the world.

It’ s a business hotel with meeting space for conservations in the city suburbs and also for group activities. The hotel has also 1877 rooms that can be used for bookings for tourists. In order to meet the targets of the Hotel, the corporation has expanded the hotels all over the globe even to unexpected areas in Africa; in Kenya Marriott group of hotels is one of the best top-class hotels. Over the years the company has been undertaking forecasting reports which have been helping the company to schedule the work assigned to the staff, helps the company in procurement duties such as purchasing and financial analysis, revenue collection and disbursement, planning and determination of the hotel costs and at most generating and consolidation of the house bookkeeping.

All the above statistical information obtained from the forecast has used by the management to revenue collected from the hotel branches, the occupancy rate of the rooms in the resorts and hotels, and as a measuring kit for the awarding of the best managers in the company. The Aim and Purpose of the study The aim of this report is to make all days demand forecast using Tuesday as the determining day by also using the best forecasting procedures.

This will be done by determining days' demand for Saturday form Friday. The best methods to be used for the forecasting by using the employment level as the benchmark is also very important and is a component in this study. With the use of this forecast the managers of the hotels will be able to make proper decisions. Background Being the manager of the hotel (Hamilton Hotel reservation) I will advise Snow to adjust some of the situations that led had an influence to the since most of the clients did not show up on weekends, some also canceled the reservations before their arrivals and also to those that stayed in the hotel extra days sine this and an impact in the employee’ s works and the revenue departments.

The managers through the use of better forecasting procedures and methods will be able to run the hotels and resorts effectively in order to attain reputable revenue collections and to have good relations with the employees since without them the company cannot attain anything at the end of the financial period.

References

Albright, B. 2008. Revenue management takes its next step. Hotel & Motel

Management, 223(12), 42-42. Retrieved from

http://ezproxy.library.unlv.edu/login?url=http://search.ebscohost.com/login.aspx

rue&db=buh&AN=32968151&site=bsi-live

Andreassen, P. B.,1990. Judgmental extrapolation and the salience of change. Journal

of Forecasting, 9(4), 347-372. doi:10.1002/for.3980090405

Armstrong, J. S. (Ed.). 2001. Principles of forecasting: A handbook for researchers

andpractitioners. New York, NY: Springer Science+Business Media, Inc.

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fromhttp://books.google.com/books?id=XdE4m_xMfL8C&lpg=PR5&ots=QnHf

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