Maximizing Potential Revenue of Global Hotels and Resorts
The project conducted by Team Robolytics provides a thorough analysis of the booking data of Global Hotels and Resorts (GHR) to enhance revenue management strategies. By employing tools such as Python, R, and Tableau, the team has identified key revenue streams from hotel stays, losses from room upgrades and cancellations, and developed predictive models to forecast potential revenue losses. The analysis also delves into the effectiveness of booking channels and market segments. To optimize revenue, the team recommends implementing tiered cancellation fees, regulating upgrades, promoting loyalty programs for corporate customers, and crafting specialized packages for deluxe rooms. These strategic suggestions are aimed at boosting GHR’s revenue, which has the potential to reach over $19 million.