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You are the revenue manager of the Brighton Hotel located in the business district of a major market. As part of your responsibilities you develop a demand forecast for the property. In this exercise you will predict the demand for the third week in August 2018 using the attached Excel file (HOSP Forecasting Assignment 2). A copy of the previous time period is also attached (HOSP Forecasting Assignment 2 LY Data). Below are some guidelines to assist you in this process. While there is no 100% correct answer grading will be based on decisions made using the guidelines below, decisions made using previous years data, and calculation accuracy of submitted data.1. You are to complete the estimated pick-up (PU), estimated ADR, and estimated revenue section as well as the total rooms, total ADR, and total revenue. Do this for each segment.2. At the bottom of the worksheet, calculate total transient (rooms, occupancy %, ADR, revenue), total group (rooms, occupancy %, ADR, revenue), total hotel (rooms, occupancy %, ADR, revenue) 3. This is a 500-room hotel.4. OTB = On the Books (reservations already made)5. The Management company expects to see an overall ADR increase of 8%6. Last year a hurricane force storm hit the area on Tuesday going into Wednesday.7. Zappa Industries, a major local business, when out-of-business in December 2017. 8. Barnstormers Inc. has recently opened regional offices throughout the country including the same city of the Brighton hotel.9. Crimson Manufacturing, a local company, was due to hold a sales meeting for 20 people last year but had to cancel due to the storm. They are expected to hold the same meeting this year. 10. Y.Y. Technologies, a national firm, is expected to hold seminars in the area on Thursday and Friday and plan on bringing a staff of 15.11. The National Association of Hospitality and Financial Professionals was due to hold its annual meeting last year on Tuesday, Wednesday and Thursday, while the event did not cancel the entire time, many did not make if for Tuesday. They will not be returning this year.12. The Retired College Professors Association are scheduled to hold a retirement seminar on Friday and Saturday of this year. Last April they held a similar event and 25% of the 200 attendees stayed overnight in the hotel.
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