Key Business Problem(s) (200 words)
Revenue management is a powerful approach that hotels and other businesses can use to increase their revenue. For your action plan, describe a key business problem related to revenue that you are interested in addressing. Try to state the problem in terms of occupancy, price, and/or duration.
Strategies (400 words)
Identify the revenue management strategies from this course that are directly relevant to your business problem. Note those strategies here in your action plan.
Steps (400 words)
Identify the steps you will take to put those strategies into action.
1. List each step you will take to put those strategies into action.
2. For each, describe what you will do personally.
3. Also describe what others on your team will need to do. Be as specific as you can in outlining the actions that you and others must take
Timeline (200 words)
Identify a timeline for implementation.
1. What will you (or your team) do in the next month?
2. What will you have completed over the next quarter?
Measurement/Results (300 words)
How are you going to measure your results or demonstrate that your solution has had a positive impact? Outline your measurement strategies here.
References
• Provide a full list of all sources cited in-text throughout the research project.
• Use APA style for both citations and reference list.
• Follow the APA Referencing style guidelines when acknowledging sources of literature (citations and bibliography)
Formatting The following formatting guidelines should be followed:
• Line spacing: 1.5
• Font size: 11
• Font type: Arial, Calibri or Times New Roman
• Headings should be consecutively numbered
• Referencing should conform to the APA system)
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