Posted: January 4th, 2023

HFR603BM Hotel Finance and Revenue Assessment

ASSESSMENT BRIEF
Subject Code and Title HFR603BM Hotel Finance and Revenue
Assessment Supplementary assessment – Report
Individual/Group Individual
Length 1,000 words (+/- 10%)
Learning Outcomes This assessment addresses the following subject learning outcomes: a) Generate, analyse and critically evaluate financial information for improved business decision-making.
c) Critically evaluate the operational requirements of the various components of revenue management. Revenue management is the practice of optimizing the revenue generated by a business by forecasting demand and setting prices accordingly. It involves forecasting demand, setting prices, managing inventory, and analyzing customer data to optimize revenue. The various components of revenue management include:

Demand forecasting: This involves predicting how much demand there will be for a product or service at different times and in different market conditions. Accurate demand forecasting is essential for setting prices and managing inventory.

Price setting: This involves determining the optimal price for a product or service based on demand forecasts, cost of production, and competitors’ prices. Price setting can be challenging because it requires balancing the need to maximize revenue with the need to remain competitive and attract customers.

Inventory management: This involves ensuring that there is enough inventory to meet demand while minimizing excess inventory, which can tie up capital and lead to waste.

Customer data analysis: This involves collecting and analyzing data on customer behavior and preferences in order to better understand and serve their needs.

To effectively manage revenue, businesses need to have systems in place to forecast demand, set prices, manage inventory, and analyze customer data. These systems should be flexible and adaptable to changing market conditions and customer needs. In addition, businesses need to have the necessary resources, such as trained personnel and technology, to effectively implement and maintain these systems.
Submission Due by deadline notified by the Academic Services Officer. (Due dates will be five (5) business days from the date of notification)
Weighting 50% Supplementary Pass/Fail
Total Marks Not Applicable.
This supplementary assessment will not be awarded a mark but will be graded against the marking rubric or criteria as a Supplementary Pass of 50% or a Fail.
Assessment – Report
Context
Using the information from the data sets below, write a 1,000-word report that includes:
A. An analysis of the percent change in Occupancy, ADR and RevPAR against last year data.
B. An Assessment of the hotel’s performance against its competitors using Occupancy, ADR and RevPAR as points of comparison.
Do not write recommendations.
Instructions
Bruce is the General Manager at the Blue Star Hotel and has to prepare for the quarterly meeting with the owners to discuss the hotel’s operations, status and overall performance of the business thus far. This year, the market has been particularly difficult as it has seen a growth of supply with three new hotels opening within the competitive radius of the Blue Star Hotel, and a reduction of a large travel market due to restrictions on visas in the last 6 months.
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As the Revenue Analyst for the property, Bruce has tasked you with writing a report on the revenue performance of the hotel in the market this year. Your colleague has gathered the following data sets:
STR Report – June 2022
Submission Instructions
As notified by the Academic Services Officer.
Referencing
It is essential that you use appropriate APA style for citing and referencing research. Please see more information on referencing in the Academic Skills webpage.
Academic Integrity
All students are responsible for ensuring that all work submitted is their own and is appropriately referenced and academically written according to the Academic Writing Guide. Students also need to have read and be aware of Torrens University Australia Academic Integrity Policy and Procedure and subsequent penalties for academic misconduct. These are viewable online.
Students also must keep a copy of all submitted material and any assessment drafts.
Special Consideration
To apply for special consideration for a modification to an assessment or exam due to unexpected or extenuating circumstances, please consult the Assessment Policy for Higher Education Coursework and ELICOS and, if applicable to your circumstance, submit a completed Application for Assessment Special Consideration Form to your Learning Facilitator.
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Assessment Rubric
Assessment Attributes Fail
(Yet to achieve minimum standard) Pass (Functional)
Communication & Academic Writing
(presentation of information to audience)
20% Audience cannot follow the line of reasoning. Line of reasoning is often difficult to follow.
Analysis (demonstration of understanding of
RM concept)
30% Limited synthesis and analysis of new knowledge. Can analyse a limited range of information with guidance using classification / principles.
Assessment (defence of own perspective on positive/negative performance of business)
30% Minimal to no Assessment of RM scenario. Limited synthesis and Assessment of RM scenario. Some use of RM concepts and illustrations.
Application (illustration of RM concept)
20% Demonstrates lack of understanding new knowledge. Demonstrates minimal understanding of new knowledge, however lacks an attempt to illustrate it.
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