Hired as a hotel consultant for a real estate investment

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Reference no: EM13500631

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?

Reference no: EM13500631

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