This project aims to study revenue management strategies adopted by hotels to maximize profitability through dynamic pricing, demand forecasting, inventory control, and customer segmentation in a competitive hospitality environment.
Study the concept of revenue management in hospitality.
Understand demand patterns and seasonality in hotel bookings.
Analyze pricing strategies such as dynamic and differential pricing.
Study room inventory management techniques.
Analyze customer segmentation and booking behavior.
Examine the use of revenue management software systems.
Conduct a case study of a mid-scale or luxury hotel.
Study the impact of online travel agencies on pricing control.
Analyze challenges such as overbooking and cancellation risks.
Evaluate revenue performance metrics like RevPAR and ADR.
Suggest improvements to optimize hotel revenue strategies.
