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Revenue Management

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Revenue Management
Introduction:
The location of our hotel is in the heart of Springfield, Ma off exit 7 next to the Basketball Hall of Fame. At the Springfield Marriott there are 262 rooms with 9 floors and it is a full-service hotel. The property from the outside does not look very impressive, but once you get the grand tour you could say you just might change your mind. Bill Hess, the General Manager gave us a tour of the hotel after his interview, it was a spectacular experience.. Inside of the hotel, adjacent to the garden area there are several banquet halls named after local areas such as “Berkshire”. The full-service aspect is provided by the Champions Sports Bar, Currents Restaurant, and Currents Bar. These food establishments bring in large amounts of revenue and help serve guests the options of breakfast, lunch, and dinner as well as some entertainment. The Marriott has a wide selection of target guests for these dining establishments, including groups outside of travelers. The Champions Sports Bar helps the hotel pick up revenue from locations such as the Basketball Hall of Fame.
The major hotel market segments primarily include transient travelers and group guests. Of the transient guests, the hotel’s specific target is a ‘business’ transient guest, many of which have open contracts with the hotel. One of the companies who provide frequent business travelers to the hotel includes Smith and Wesson Gun Company located in Springfield, MA. Usually happens with these company business travelers have multiple open contracts with hotels in the local area such as the Sheraton located next door to the Springfield Marriott. Once the traveler is aware of their planned stay in Springfield, they contact the multiple hotels (including the Marriott) and the battle begins for revenue in Springfield. Mr. Hess comments that it is essential to stay competitive with the…...

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