Revenue Management

HRM302 Revenue Management

Assignment 1

Leung Man Tao Marco
200710535
Executive Summary
This report is going to discuss about the revenue management, and the revenue management do not have a long history, and it only had using in hotel industry about 10 years, the first industry using the revenue management to manage the revenue which is the airline industry. Revenue management is a subject which is helping the organization to keep running in the highest profit. There is a big topic for the revenue management and which is pricing, because if the organizational would like to have the highest profit, the revenue management team has to sell the right room, right customer, at the right time, for the right length of stay and through the right distribution channel. And also, there are eight elements which are the RevMAP and the “IDEA” strategic. Then, it is the strategic levers of revenue management which is the Price and Duration, setting pricing, and position price. Based on the research, the report is going to focus on two resorts, which is the Azzura Greens Resort and the Ocean Pacific Resort, and both of them are located in Gold Coast. According to the research, it shows the price which is on the web travel agency; Wotif and Last Minute. It is going to analysis these two resort and discuss about the three department how to making profit for the resort.
Table of Content

1.0 Introduction………………………………………………………………..…..P.4
2.0 Definition all the key terms ……………………………………………P.5 – P.8
3.0 Important to Revenue Management ………………………………..P.8 – P.12
4.0 Key topics and concepts ……………………………………………P.12 – P.17
5.0 Holiday Inn Resort Kandooma Maldives ………………………….P.18 – P.24
6.0 Conclusion …………………………………………………………………..P. 25
7.0 Reference …………………………………………………………...P. 26 – P.27
8.0 Appendix ……………………………………………………………………..P.28
1.0 Introduction
This report is going to discuss about the nowadays revenue management in hospitality industry and the history. Today, revenue...