A

• Question 1: How is value created? Think of a specific hotel or restaurant that you have experienced. How could it add more value for you? Do you think your list of enhancements would be the same for your mother or father? Why?
• Question 2: Describe two distinct market segments and describe any differences in buying behavior.
• Question 3: Assume you are the opening revenue manager for a new resort. List the steps that you would take to define a comp set and determine its benchmark rate.
• Question 4: If a hotel has more demand than supply for a given time frame, what pricing strategies can be considered to increase profits?

B

• Select an upcoming high demand date in your city, such as a graduation weekend, citywide conference, sports event, or celebration.
• Now select 3 hotels near the event and shop their rates for 1-, 2-, and 3-night stays during their peak dates.
• Now do the same exercise for the date one month after the event and compare the rates.
• Is there a significant difference in rates between the two dates?
• How much premium has the hotel applied for these high demand dates?
• Why do you think that is?
• Are there any other dates you can think of that would apply to these concepts?