Assignment 5: Price Shops

The attached document is a shop for your competitor hotels. You are the Revenue Manager for Hotel Alpha. It is January 6 and you just received your shops.  the below applies to Hotel Alpha:

  • Main booking window is between 30 to 45 days out.
  • Hotel Alpha has 200 Rooms available to sell per day.  All room types are the same and priced the same
  • Hotel Alpha has sold 80 rooms per night for a group from April 15 to April 20( 50 rooms each night inclusive). This means during these dates you only have 120 rooms left to sell per day.
  • High season is from January 15th to  April 10th.
  • Shoulder/Low season starts on April 11th.
  • There is an art festival in market from March 25th to March 31st. This is creating increased demand in market.
  • High season prices in this market range from $300 to $650.
  • Low season prices in this market range from $200 to $550
  • Hotel Alpha is the price leader in market. It is ranked as one of the best hotels in the area due to their 5 star service.  Hotel Las Brisas and Belmond are your biggest competitors.

 

Based on the price shop attached , Las Brisas and Belmond are sold out on some days.( CLOSED)

Based on this information, what price changes should you make for the entire period shown on the shops. If you need to change the price add an additional column adding the prices you will set and showing the difference.

Please explain why or why not you are making a change. Be very detailed. Submit your explanations on a separate word document  in essay format following APA style guidelines( as mentioned on the Syllabus)

Please ensure you submit the excel document showing the price changes AND the word document showing your detailed explanations.

 

Help: Please read carefully everything mentioned above. Booking window means how far in advance the majority of your rooms get booked. This is where most of the activity happens.

If a hotel in your competitive set is already sold out. This means there is less inventory in your market. You should take advantage of this.

Having group on the books, creates compression ; therefore you should maximize the revenue you can get from the inventory you have left.

If you have any questions, please don’t hesitate to contact me.

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