The Henry Jones Art Hotel is the only five star art hotels in the country which gives it abundant scope to sustain remarkable growth by securing right expansion opportunities. The hotel is currently operating only in the City of Hobart. Hence, the hotelier business can easily be expanded in Burnie. The urban population of this port city is 26, 869 which makes it the fourth largest city in Tasmania. The facilities in education transport (Burnie Airport, Emu Bay Railway and Bass Highway) and business are also favourable for business expansion (Maier, 2011). Burnie offers fascinating opportunities to experience heritage areas, national parks and reserves which attract visitors from all over the words throughout the year. Although a range of accommodating properties serves the current population of travellers, the windfall opportunity of success of a hotel business in this North West coast city of Tasmania is enormous.
Changing your forecast： How would you react and what revenue management measure would you put in place the demand is slower than anticipated
Due to different price sensitivities and booking behaviour across online channels, it is essential for revenue managers to reach customers through right balance between price and promotion. With the help of a granular comprehension of demand generation forecast, revenue managers can work with promotion and marketing to reach the targeted group of customers with right mix of offerings. By adopting timely promotions, hotels can increase the share of bookings to combat peak and low-peak periods, meta-search engines, a mix of OTAs and mobile channels. Mobile travel bookings have increased by 20% since 2014 and this has accelerated online travel growth (Heo & Lee, 2011). This will also facilitate the understanding of consumer behaviour as well as price sensitivity that maximises revenue sands profits.