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This a Pricing and revenue Case study questions. I have uploaded the full description and the accompanying excel file (if it doesn't load contact me...
This a Pricing and revenue Case study questions. I have uploaded the full description and the accompanying excel file (if it doesn't load contact me and will send) to the BAN 540 section here. This is due Sunday and I do not need the excel file back just a word doc with the answer and a charts to justify answer.
1. Using the Forte Hotel version of the model, suggest the number of rooms and the prices for those rooms for the June 1 through August 31, 2018, summer season. (Ensure that the price structure you develop creates a demand model with a reasonable distribution of capacity where there is higher capacity in the lower price classes than in the higher price classes).
2. How would your recommendation change if Forte management set a maximum room price of $180?
3. What if there is a 15 percent minimum increment between room classes?
4. Do the results from the various models you developed to address questions 1- 3 make sense? (What are the limitations and shortcomings of this analysis from Forte management's perspective?)
The next use of the model is for daily reservations. Local management at the hotel has to decide the number of rooms of each class to book on each day. (With very rare exceptions, customers booked into a lower class who are given a "free upgrade" are happy; hence booking upward is feasible. Booking downward—giving someone who requested a Premiere room a Standard room—is not.). In answering the following questions, use the model from questions 1 - 3 that you find to be the most appropriate (Indicate the model that you are using).
It is May 23, and the following two reservation requests have come in. Would you accept either or both of these reservations? In answering the next two questions, it would be useful to articulate the opportunity costs associated with accepting or rejecting either reservation request.
5.For June 7, a request from Centre for Travel, a Pennsylvania travel agency that is a steady customer, for a block of 12 Standard rooms for a Washington museum tour group: Booked to date: Premiere: 6 rooms
Superior: 11 rooms
Standard: 59 rooms
6. For May 28, a request for 20 Standard rooms for a foreign delegation visiting the Department of Commerce:
Booked to date: Premiere: 9 rooms
Superior: 25 rooms
Standard: 44 rooms
7. For daily reservation requests, Mr. Long has asked for your advice on what discretion should be given to the local hotel management in taking bookings? The reservations clerk? Why?
