The industry that I am currently working on is the Riyadh Marriott Hotel. The hotel was built in 1980, and last renovated in the year of 2014. There are 6 floors along with 418 rooms in this 5-star hotel.

            Revenue management has long been acknowledged as an essential business practice that subsidizes augmented revenues for numbers of industries. Riyadh Marriott Hotel as a part of Marriott International which was a pioneer in implementing a revenue-management system for the hospitality industry has also been implementing a revenue management system to the business activities. In Marriott hotel the coach’s leaders are working in developing effective revenue strategies. The team members work on setting the aggressive goals and it led to the property financial performance. The support market sales evaluate the account deployment. The company serves property sales with proper revenue management. The communication and marketing manager provide support to the direct marketing plans, activate channels, and work on the targeted campaigns. The revenue management help the hotels to open successfully. The company members provide strategic consultation around the marketing budget activities and planning. The campaign and promotion work with the incremental revenues.

           Riyadh Marriott Hotel also has applied an early labor-intensive venture into revenue management which created by J. W. Marriott, that basically a process by which hotels create its ideal price meant for the rooms.  In fact, Riyadh Marriott Hotel has successfully done its revenue management throughout the years.

            As a part of Marriott International, Riyadh Marriott Hotel currently established its extremely successfully “Tahseen” agenda, which is an exclusive hospitality management improvement agenda which focusing on speedy tracking of the next Saudi leaders, and provide them various successful careers in the hospitality industry. Thus, travel and tourism would give a significant role in increasing the revenue of Riyadh Marriott Hotel, and also strengthening the economy of Saudi Arabia as well (marriott.com, 2018 ).

            One of the barriers that might prevent Riyadh Marriott Hotel from implementing its program in revenue management might come from the main profit of the country itself, which is from oil, not from the hospitality industry. This might able to make Riyadh Marriott Hotel not getting any support from the Government of Saudi Arabia. To overcome this obstacle, Riyadh Marriott Hotel actually has made a great step with “Tahseen” agenda mentioned above. The reason is due to this agenda would make the relationship between Riyadh Marriott Hotel and the government of Saudi Arabia become stronger.

Reference of Riyadh Marriott Hotel

marriott.com. (2018 , February 26). Marriott International Reinforces Its Commitment To Vision 2030 At First Saudi Arabia Hotel Investment

Conference. Retrieved from https://news.marriott.com/2018/02/marriott-international-reinforces-commitment-vision-2030-first-saudi-arabia-hotel-

investment-conference/