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Assignment

You have been hired as a hotel consultant for a real estate investment trust (REIT) in New Orleans. The REIT has just purchased a hotel on Bourbon Street in the French Quarter. The REIT has asked you to come up with different pricing strategies based on the following information in a business plan, which you will show to its new hotel management company:

  • Convention and exposition trade shows: 2 nights, weekend
  • Leisure traveler: 2 nights, weekend
  • Business traveler: 3 nights, weekday
  • Mardi Gras week: 7 nights, weekly
  • Major annual sporting event: 5 nights, weekday and weekend


Deliverable
•Create a pricing strategy for each of the activities that the REIT has asked for you to research in New Orleans for its new hotel property.

  • Include in your report to the REIT the average daily rate you will choose for each assigned travel activity.
  • In detail, explain how you came up with the pricing strategy and why you feel it will be successful.
  • What is the difference in the pricing strategies you will be using for each of the activities, events, or clientele?

 

Marketing Management, Management Studies

  • Category:- Marketing Management
  • Reference No.:- M91037751

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