14 Aug AssignmentYou have been hired as a hotel consultant for a real estate investment
AssignmentYou 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:â¢Convention and exposition trade shows: 2 nights, weekendâ¢Leisure traveler: 2 nights, weekendâ¢Business traveler: 3 nights, weekdayâ¢Mardi Gras week: 7 nights, weeklyâ¢Major annual sporting event: 5 nights, weekday and weekendDeliverableâ¢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.â¢Include in your report to the REIT the average daily rate you will choose for each assigned travel activity.â¢In detail, explain how you came up with the pricing strategy and why you feel it will be successful.â¢What is the difference in the pricing strategies you will be using for each of the activities, events, or clientele?
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