For this assignment, assume that you are a Revenue Manager and planning a monthly forecast. As per the annual budget, you have been given your occupancy, ADR and RevPAR targets for 2023 (your Revenue Planning PDF Document will contain this information). As a Revenue Manager you want to, at minimum, meet your KPI’s but if possible, exceed KPI’s. Your hotel has previously only ever taken direct transient guests and reached an average monthly occupancy of 50%. However, the executive committee has decided to grow hotel business this year by expanding segments and accepting a variety transient, contract and group business. In your Revenue Planning PDF Document, you will find information that outlines your hotel’s options for transient, contract and group business. As a group, using a Microsoft excel file that your group will create, you will need to decide which business you will accept or deny to achieve (and possibly exceed) your KPI’s.

Once you have completed the forecast for the month, using Microsoft excel, you must prepare a chart of your monthly projected occupancy. As a group, you will prepare a 2-minute presentation including your chart, explaining why and how you did (or did not) meet your occupancy, ADR and RevPAR targets. Upon completion of the presentation, The GM (the course lecturer) will ask you two (2) questions regarding your forecast that you will need to answer.

The task will require your group to:

1. Create an Excel file to calculate (using formulas) your achievable ADR, Occupancy and RevPAR, based on the transient, group and contract business your hotel has decided to accept.

2. Prepare a chart of your daily projected occupancy levels over the month identifying your hotel’s capacity and broken into group, contract and transient business. (Please refer to the Week 4 workshop, it will help you in completing this task).

3. Create a 2-minute presentation to explain and justify your forecast in relation to the given KPI’s.

4. Answer 2 questions from your hotel’s GM to further explain your forecast.

Instructions

· Your group will need to create its own Excel file for this assignment (i.e., you will not be provided with a template), and you will need to use formulas in Excel to set up your hotel’s monthly revenue forecast. You will need to test and trial different transient/group/contract options presented in your Revenue Planning document to achieve or exceed the given Occupancy, ADR and RevPAR. Using the same Excel file, you will create a visual representation (chart) of your final forecast showing the daily occupancy over the month broken down into the various segments.

· Next, you will need to prepare a presentation to explain and justify why you did (or did not) meet the forecast. Be sure to highlight the segment (e.g., transient/group or contract business) that facilitated (or hindered) the achievement of the occupancy, ADR and RevPAR targets. Also, explain why you chose to accept this business over other business. ALL group members must speak with their cameras turned on. It is recommended that 2 members speak for the presentation and 2 members answer the questions. Every group member must actively participate (i.e., speak) during the presentation timeslot.

· All students will need to show student ID to present. Alternatively, you can show driver’s license or passport. If you do not have ID, you will not be able to present your group assignment.

· Read the marking criteria for this assignment, which will be posted in the A2 Assessment folder once groups/cases are finalised and communicated by Week 6.