It is definitely crunch time here in Cornell. With less than half a week to go, we are up for the most challenging assignment: taking everything we’ve learned and combining it into one final CHESS report.
The four of us went into the lab and made sure that every person did something different. I would run the hotel that I used for my individual report, which is called Tensory Hotel & Resorts, by the way, without any changes.
Veronica would run the same hotel with the same expenses but using revenue management, which meant that she would play around with opening and closing rates and incorporating strategies into running it, like closing the lowest rates on Mondays and Tuesdays.
Eunice ran the hotel using the modified expenses that we used yesterday, without revenue management, like me, which is basically just not touching anything.
Finally, Joann ran the modified-expensed hotel using revenue management.
In the end, Joann received the most departmental income, about $67,000, which was disappointing for me because I wanted to reach the goal of $70,000. Veronica basically ran the hotel that I did which made over $70,000 (in my individual report), but with way more strategies, as I described above, whereas I closed and opened rates more to my liking. I realized that although this probably would have made us the desired amount of money, there was no strategy in it, which in the long run, would not make a good report. Therefore, we will use Joann’s data and start the report.
We will work AS A GROUP, as Mark reminds us. We must share and work EQUALLY. No assigning someone this and that and then pulling it together. We have so little time to work on it, and I am exhausted from working on an extra-credit quiz, which I realized I was doing wrong for 2 hours. When I made the corrections, it took about a minute. Nonetheless, I hope I did it right, and I have no energy to stay up, but I must look closer at our data and begin drafting something. We only have 2 days, and we must produce a professional report. I am “signing off” for now.