Scenario: Imagine you are the revenue manager of the Broward Hotel. The general manager is concerned about occupancy and room revenue at the hotel, and

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Scenario: Imagine you are the revenue manager of the Broward Hotel. The general manager is concerned about occupancy and room revenue at the hotel, and has asked you to investigate the issue and make recommendation for improving occupancy and revenue. Your recommendation should meet these requirements:

1. Define revenue/yield management and explain how revenue/yield management can be used to help maximize room occupancy and improve room revenue.
2. Explain how forecasting and statistical data can be used to help improve rooms inventory and management.
3. List at least three different strategies that the Broward Hotel may use to sell more rooms, sell them at a higher price, and to attract repeat customers.
4. Conclusion
   • Consider which of these sales strategies you consider to be the most effective and include a sound justification of your opinion, linked with yield management and forecasting.