Revenue Management Exam Answer Key

Tourism is one of the most international industries. Globalisation is the gradual forging of links between groups and societies until they finally reach around the globe in several directions (Smith, D,2006). Globalization is one of the serious challenges facing managers today. It is critical to develop services that are able to satisfy a highly diverse customer base (Ueltschy et al., 2007) Now to keep up with the rising levels of globalization in the hotel industry, there’s a need to understand not only the positive, but also the negative impacts of globalisation. I’ll also talk about the growth and rise of one of the most respected brands in the hospitality industry - the Hilton Hotels. Throughout the evolution of this famous organization, the Hilton has

participants had chosen their desired hotel, they were asked a set of six questions, three of

3. What defense(s) does the hotel have on its side? List (and define) those here. Very briefly state

2.3.1 The proposed project will face a high level of repetition as there will be a certain amount of similar or identical hotel rooms and floors. Thus, the workers’ expertise will increase with time. However, the design

a. Given the change in the value of the dollar between 2008 and 2009, as indicated in the table above, describe the effects this will have on United States tourism in each of these countries.

Our team chose the hotel industry in the United States for our economic analysis. The hotel business has existed since the earliest times, and has influenced the development of the economy since the founding of this country.

1. Assess the decisions made by the hotel’s management in relation to the various offers received

4. Analysis: Open the Forte Hotel Data (Conjoint, 3 Analysis) data set in My Marketing Engineering, which has competed Steps 5 and 6 in the Tutorial for you. Follow Step 7 in the Tutorial, ((ME>XL==>Conjoint==>Run Analysis) and assess the viability of the four specific hotel concepts that Forte is exploring for the State College area. Base this evaluation on the preferences of a sample of 40 business travelers on that sheet (Exhibit 2) and the cost estimates summarized in Exhibit 3. The base cost to build each hotel room (without the attributes and options listed in Exhibit 3) is expected to be about $40,000 for a 150- to 200-room hotel, regardless of the mix of room

How would Paris, employees, and customers receive the new FS administration? Would the values and standards of the company be compatible with those held by French culture? The question was to decide what to keep and what could be changed in their strategy when considering the elements of the French national culture and legal aspects. The advantages that FSH had on its side were experience; they had already been successful in other 23 countries reaching this balance using the diversity-singularity strategy, flexibility, they have shown setting an ever reducing number of standards while increasing focus on their goals, and a strong set of values. The success of the firm could mean entering a highly profitable market, improving the image as a high-level luxury hotel and the reinforcement of confidence for the top management team about how operations were being run. If it were a failure, the company would lose an investment of $125 million, two years of work, and possibly damage their image in a very competitive environment. Two main factors that could conspire against its success were national culture and legal issues. Even though FSH already had some experience through its operations in Canada and the Pierre Hotel in New York City (are we sure about the "French" culture at the hotel in NY? Pg 8 ) in dealing with these elements, the FS George V was a new challenge all together. In dealing with a national culture as

This paper is designed for exploring the reasons for the success of Four Seasons Hotels and Resorts in Paris (Four Seasons). Four Seasons Hotels and Resorts is Canadian based international leading operator of midsized luxury hotels. Four Seasons has enabled guests to maximize the value of their time with providing high-quality and truly personalized service. Four Seasons was able to succeed with their unique strategy of dealing with cultural differences, unique corporate culture, and strategy of human

Key managers that can run each business independently but with a group vision are also part of the equation. Additionally the luxury industry is strongly dependent on tourism which is influenced by economy trends. The 9-11 events and the global economy slowdown have had a great impact on the industry. Finally huge investments were done to win strategic position, having an important impact on revenues. Appendix 5 is an example of the proportion of cost and impact on revenues and the stock performance.

At Ritz-Carlton, electronic databases are used to track guest’s preferences and tastes enabling them to provide express check-in for their regular guests. Legal and political conditions, such as war or political strife between countries, limit international travel which can have a detrimental impact on international locations. In addition to these extreme circumstances, legal restrictions, such as zoning restrictions, may force Ritz to limit the height or size of their hotels in certain regions. Specific international events, such as the current economic recession, have had major impacts on the demand for luxury accommodations. Lastly demographics play a role in site location for a luxury hotel. The population surrounding a hotel can often dictate the type and amount of clientele the hotel will receive. (Exhibit 1)

Competitive Analysis – During the competitive analysis the business analyst will analyze the hotel market and performance of all the hotels within a 50 to 100-mile range of the Golden Dragon Hotel, to study and set room prices during the various seasons in the year. This will allow the Golden Dragon Hotel to not only be priced with other hotels competitively, but to also know the pulse of the market so that they neither drop prices when not necessary nor have prices too high when competitors are cheap. The hotel will be able to look at operating the hotel so that it is profitable year-round instead of imply during one season.

Hotels, prescribed case study activities A, C, E and G are completed then the two questions are

9:00 to 10:00, the hotel standards will be explain such as values, visions and history moreover a review of the policies and procedures of the establishments will be explained such as in case of fire what is the procedure and also the expectation of the hotel from the employees.