HOSPITALITY REVENUE MANAGEMENT AND DYNAMIC PRICING STRATEGY

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[ ] Fetch Historical Occupancy Data: Retrieve historical occupancy rates from the past 30 days to establish a baseline for forecasting.
[ ] Fetch Competitor Pricing: Retrieve current pricing data from the Competitor Rate Monitoring data model.
[ ] Fetch Local Event Calendar: Retrieve upcoming local events and holidays that may impact demand.
[ ] Calculate Average Daily Rate (ADR): Aggregate all completed booking entries to calculate the average room rate for the current period.
[ ] Calculate Average Occupancy Rate: Aggregate occupancy percentage entries to determine the mean occupancy for the upcoming week.
[ ] Calculate Demand Index: Execute a formula comparing current booking pace against historical trends to determine a demand multiplier.
[ ] Calculate Recommended Dynamic Price: Apply a formula: (Baseline Rate * Demand Index) + Seasonal Adjustment.
[ ] Update Room Rate Master Table: Update the 'Daily Rate' field in the Room Rate Data Model with the newly calculated price.
[ ] Revenue Manager Review: Create a task for the Revenue Manager to review and approve the proposed price changes for the next 7 days.
[ ] Inventory Adjustment Task: Create a task for the Front Office Manager to adjust room availability if occupancy exceeds threshold.
[ ] Log Pricing Change Log: Create a new entry in the Pricing Audit Log documenting the date, old price, new price, and the reason for change.
[ ] Notify Stakeholders of Rate Change: Send an email to the General Manager and Sales Team notifying them of significant updates to the pricing strategy.
[ ] Generate Weekly Revenue Forecast Report: Generate a PDF report summarizing the projected RevPAR (Revenue Per Available Room) based on the new pricing.
[ ] Clear Expired Promotions: Delete outdated promotional rate entries from the Promotions Data Model that have passed their end date.

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