Summary Of The Great Gatsby Essay - 1937 Words

Noah Myers The Great Gatsby Reading Logs Chapter 1: In the Great Gatsby Chapter 1, The table has been set figuratively and literally. Figuratively because we meet Nick Carraway our narrator for the first time. Plus the rest of the great gatsby main characters, Daisy, Tom and jordan. Nick starts out having dinner with tom, daisy and jordan. The setting is in east egg, but the dinner takes place in west egg at the buchanans house. I think this passage from the great gatsby in the opening of the book, really sums up a lot about the book and how nick perceives and tells the whole story to us in the book In my younger and more vulnerable years my father gave me some advice that I ve been turning over in my mind ever since. Whenever you feel like you are criticizing any one, he told me, just remember that all the people in this world haven t had the great advantages that you ve had. Page 1-2 B. The two questions I have about the text based on this chapter is. What is the mystery behind gatsby? Who is Jay Gatsby really? C. How I feel About the characters and events. I really don’t understand tom and I don’t agree with him having a mistress even though he’s already married and has a kid. I think its wrong and I agree with how nick was reacting on how he was thinkung he should call the police. If I had to say a theme for this chapter It might be money can’t buy happiness. Because with all the money that tom has you would think that daisy and tom would be a happyShow MoreRelatedThe Great Gatsby Summary1036 Words   |  5 PagesSummer Project 2012- â€Å"The Great Gatsby†: FULL SUMMARY OF â€Å"THE GREAT GATSBY†: During the 1920’s era, within the various movements of prohibition, women’s rights, and the Jazz Age, F Scott Fitzgerald bore a timeless novel by the name of â€Å"The Great Gatsby.† The predominant character, Nick, who duals as narrator, is indecisive but thoughtful. He lives in West Egg on Long Island Sound, amidst the aristocratic air and luxurious titles. Gatsby, Nick’s neighbor, whose affairs apart from his partsRead MoreSummary Of The Great Gatsby 1277 Words   |  6 Pages Nick Lopez Ms. McCauley CP English III 4 April 2017 Death to the American Dream In F. Scott Fitzgerald s novel, The Great Gatsby, all of the characters attempt to achieve a state of happiness in their lives. The main characters are split up into two groups: the rich upper class and the poorer lower class, which struggles to achieve a better, happier life. Although the major characters only seem to look to make their lives even better, the ideal and reality of the American Dream is almost completelyRead MoreSummary Of The Great Gatsby 1327 Words   |  6 Pageseverything during this time. From parties to everyday life dà ©cor was a very influential aspect during this time. Jesse James In the novel The Great Gatsby, readers are treated with many examples of artistic, decorative, and architectural design by Fitzgeralds excellent descriptions of the colorful environments and locations in the novel. Nick stated, Gatsby s house - The one on my right was a colossal affair by any standard—it was a factual imitation of some Hà ´tel de Ville in Normandy, with a towerRead MoreShort Summary of the Great Gatsby11203 Words   |  45 Pagesexceedingly ambivalent about the notion of the American dream: for him, it was at once vulgar and dazzlingly promising. It need scarcely be noted that such fascinated ambivalence is itself typically American. Like the central character of The Great Gatsby, Fitzgerald had an intensely romantic imagination; he once called it a heightened sensitivity to the promises of life. The events of Fitzgeralds own life can be seen as a struggle to realize those promises. He attended both St. Paul AcademyRead MoreSummary Of The Great Gatsby By F. Salinger904 Words   |  4 PagesJ.D. Salinger Jerome David Salinger, one of the most influential authors to arise after World War II, was born on January 1, 1919 in New York City. Little is known about his early life except for his education. He attended schools on the upper west side of Manhattan, which would later be the setting of his most famous novel, The Catcher in the Rye. After flunking out of several prep schools, including McBurney’s, his parents sent him to Valley Forge Military Academy. At Valley Forge he maintainedRead MoreSummary Of The Great Gatsby By Richard Rodriguez869 Words   |  4 Pagesmaterialism is the classic novel, The Great Gatsby written by F. Scott Fitzgerald. Though it has many concepts within it, the one ambiguous term that comes to mind when talking about The Great Gatsby is materialism. The Great Gatsby is centered upon the ideal of materialism. It is surrounded by the flashiness of being wealthy and having all that money can buy. All the characters such as Jay Gatsby, Daisy Buchanan, and Tom Buchanan hold material things very highly. Mr. Gatsby and Mr. Buchanan show this significantlyRead MoreSummary Of The Great Gatsby By F. Scott Fitzgerald1061 Words   |  5 Pagesthat, most people were doubled over gasping to catch their breath. Next, they did hand to hand combat. Last they did some strength training and then they were done for the day. That night he realized something, as he lay awake that he had gained a great friend and overcame his fear. Read MoreSummary Of The Great Gatsby By F. Scott Fitzgerald1732 Words   |  7 Pagessay that would take it all back? No, that would only cause more problems. It was time to talk, but†¦that was terrifying. How do you start a conversation about the fact that you both wanted to relive the past so badly that you sent yourself there? Jay Gatsby would be jealous. Was this just†¦making matters worse? They weren’t totally unprepared, after all: this was the past, not the future. No flying hovercrafts or houses on Mars or†¦marriage to Willow. It was just a thought, really. No rings were purchasedRead MoreSummary Of Sir Taran s The Great Gatsby 956 Words   |  4 PagesWell past the middle of the night, on a clear autumn evening, Bili clapped his hands together. â€Å"Everyone! Calm down and take your seats. It’s about to begin and you’ll never see such a spectacle again in your lives, so sit.† None of the children seemed to heed his instruction, and with a slight scowl, Bili sat next to Asla on a blanket in front of the lake. â€Å"What a gaggle of wild ones.† Taran chuckled. â€Å"Are you accusing our grandchildren of being wild?† â€Å"The grandchildren? No, they’re perfect. It’sRead MoreSummary : The Great Gatsby By F. Scott Fitzgerald847 Words   |  4 Pages Anna Duke, Jordan Shawn What Happened: Duke and Anna planned to runaway together and give love a second chance. Before meeting up, Duke (Ian Buchannan) unsuccessfully tried to call off the hit on Jordan (Vinessa Antoine) for being a police informant (she was able to get the upper-hand and kill the shooter; 5/8). On Julian s orders, Carlos (Jeffrey Vincent Parise) cornered and shot him in the abdomen (5/7). Duke made it to the docks and died in Anna s arms. Carlos bragged that he would likely

Coming of Age Rituals Free Essays

Itercresco Make-up. High heels. Driving. We will write a custom essay sample on Coming of Age Rituals or any similar topic only for you Order Now Shaving. Dating. These are most of the undertakings that accompany maturing and becoming a young adult in the western society. For some in the western culture, the coming of age ritual is the allowance of these freedoms. In other cases and cultures, the coming of age ritual is often based on deeply rooted traditions and a heightened sense of grandeur. Whatever they may be, coming of age rituals are integral to our society, to our inner growth, and to our development as people. In this generation, â€Å"young people however, do not suddenly feel adult upon reaching the landmark legal ages. Instead, they view these ages as representing starting points for adulthood rather than as things that immediately render them adult,† (Waters 171). The coming of age rituals avail in establishing a heightened sense of responsibility to young adults, which in turn benefits our society; these rituals cause a person to feel seasoned and as if they are truly coming into their own. At this point in their lives, young adults are akin to baby sea turtles that have almost made it to the ocean; they are crawling to the ritual that will â€Å"make† them an adult. Itercresco not only enables adolescents to discover their roots in the context of cultural traits, religious spirituality, and relevant philanthropy, which will assist them in becoming productive members of society. With attention to common perceptions of â€Å"adulthood†, Itercresco interlaces practices such as volunteerism and going to an art museum to encourage the youth to be emotionally, spiritually, physically, and financially independent. â€Å"Itercresco†Ã¢â‚¬â€ the name is a combination of the Latin translations of the words â€Å"growing† and â€Å"journey†. The ritual, which occurs at the age of sixteen, involves seven months living in the country and town from which either the teenager’s mother’s or father’s family originates; the young adults have the option to choose the region they wish to further explore. If there is still family living in the town or city, the teenager may spend one out of the seven months with the relatives if they allow them to. If the young adult no longer has family in that vicinity, they will live on their own and off of the land as much as possible for the duration of the seven months. The adolescents are sent away with seven thousand dollars and half of these funds must be used for philanthropic purposes. The rest of the money must endure the seven months, but they are allowed to find work. In fact, acquisition of employment is highly encouraged, as it will further fuel attention to a responsible persona. The funds for the philanthropic aspect cannot simply be donated; it must be actively used to benefit the town or city. In this day and age, preparation of the nation’s youth for the fast-paced society they are subjected to is integral. Itercresco seeks to ready adolescents for the â€Å"real world† by exposing them to society in a mature light and fashion. This generation requires a well-rounded persona in order to be successful. Being cultured is imperative in our community; knowledge of classic literature, film, art, and music seems to be the necessity in the modern time. For example, trips to the Louvre in Paris and Gershwin Theatre in New York City can drastically provide new outlooks on life as well as knowledge not previously present. Self-discovery and understanding on a religious level is also an integral aspect to being a productive member of society; apprehension of one’s inner self and a sense of self-awareness serve as foundations for being self sufficient and independent. Spending time immersed in learning about the spiritual aspects of different religions and examining one’s own views on spirituality and religion can provide immeasurable wisdom and erudition. A simple trip to a mosque or synagogue can shed light on a myriad of beliefs and ideals that may shape one’s future outlook on life. Giving back to the community and having a sense of responsibility for one’s environment is also an important aspect of being a contributing party to one’s community. Anything from assisting with building homes for citizens displaced by natural disasters to singing for the elderly can spawn a sense of obligation to one’s commonality and environment. Itercresco and its various parts successfully establish activities in lieu of producing and spawning successful and contributing members of society that can maintain stable employment and admirable relationships, for example. The coming of age ritual ensures that a sense of independence and stability will be met at the end of the journey because it requires tasks that build and cultivate accountability. At first glance, the young adults find the discovery of the cultural traits is most jocular in Itercresco. The new understanding of the clothing, music, and fine arts of their region of origin proves to be a refreshing aspect of the coming of age ritual. At least one concert must be attended as well as one dance performance, art show or exhibit, or heatrical performance. The young adult may or may not choose to adapt to clothing styles, but while attending shows or performances, he or she must wear garb similar or identical to the citizens of the province. In further examination of the cultural aspects of the region, the purpose of Itercresco seeks to educate and entertain young adults with their own roots and origins. Itercresco solicits a sense of feeling connected to one’s heritage while ensuring the teenager is having a convivial experience. The exploration of the culture will help the adolescent to become more well-rounded and refined, which will in turn better prepare them to participate and converse effectively in society. Self identification and spiritual discovery are the most important standpoints of Itercresco; they give the young adult an opportunity to find out who they are as a person, what they seek for their lives, and what they will rely on as their rock and stronghold. Itercresco encourages young adults to learn about the regional religion in order to expand knowledge of their own roots and even perhaps to positively influence the spiritual journey. By no means is the young adult to have the regional religion forced upon them; the young adult is encouraged to take all religious leanings with a grain of salt and discover for him or herself what they need spiritually. To better understand the region’s roots, young adults learn and understand the common creation story the majority of the citizens believe. They can choose to unearth and learn about the creation story by asking family, neighbors, citizens, or by researching through books and other writings. The young adults are also expected to explore the ethereal quests of their ancestors to better understand where they come from. They are also encouraged to journal their progress through their metaphysical ventures throughout the seven month duration. The purpose of this portion of Itercresco is to establish independence. Thinking and feeling for oneself, as well as having control and knowledge over one’s emotions and religious or spiritual beliefs, is a significant step towards adulthood and establishing one’s aptitude. This autonomy is crucial to being an adult in our post-modern society. In a hypothetical sense, if a family tragedy of some sort occurred, a faculty over one’s emotions and actions is expected. Hence, why personal understanding is promoted during Itercresco. The philanthropy aspect of Itercresco is the most personal of the discovery aspects. It takes the young adults heart and projects in into something that will benefit the community from which they inherit their culture. The young adults will choose something that is not only close to their hearts, but something that can truly benefit the community. The mission is to give back to the region that took part in establishing their existence. During the philanthropy, if funds or resources fall short, they are responsible for recovering what they need to complete the philanthropy; they can take donations or use any earnings from jobs they have done. The philanthropy can span from anything—from donating school supplies to building a garden to sustainably grow food. The possibilities are endless. The young adults choose a task that will touch their own lives as well as the lives of others in the community. The adolescent is not only performing the philanthropy to finish with the particular area of Itercresco. Every commonality has needs and Itercresco’s foundation bases and prides itself on connection to heritage; who better than to aid in fulfilling the needs of a populace than an individual whom derives their roots from said territory? After the philanthropy is completed, a book of photos and journals is compiled to aid future generations in their philanthropy. The community outreach is integral to Itercresco, as it will determine the compassion and service they are willing to give back to the community; this is critical as this is what stands to be the backbone of society. Fulfilling the different areas of Itercresco combine to be beneficial to one’s maturity as well as their inherent growth as a person. Discovering and spending time immersed in one’s roots helps a person better understand one’s heritage; knowing oneself guides who a person toward individualized identity. Young adults are meant to glean experience, knowledge, and a new sense of independence from Itercresco. Julia Alvarez soundly states in her work, Once Upon a Quinceanera, that her own ritual gave her â€Å"a new community to belong to, a narrative I could follow into adulthood† (37). This quote proves accurate for Itercresco as the ritual gives a new sense of established belonging to a community the young adult already had ties to. Itercresco is in pursuit of reintegrating the teenager into their society with a cultivated and sophisticated outlook on society, their lives, and their environments. The highlighted sense of responsibility, independence, and feeling of belonging of Itercresco provides immeasurable benefits and internal growth for the teenager moving into adulthood. Works Cited Barrios, Barclay. â€Å"Once Upon a Quinceanera. † Emerging: Contemporary Readings for Writers. Boston, MA: Bedford/St. Martins, 2010. 228-48. Print. Waters, Mary C. Coming of Age in America: The Transition to Adulthood in the Twenty-first Century. Berkeley: University of California, 2011. Print. How to cite Coming of Age Rituals, Papers

Revenue Management Level of Profitability

Question: Discuss about the case study Revenue Management for Level of Profitability. Answer: Introduction Revenue management is defined as the application of the regimented analytics which helps to predict the behaviour of the customer in the level of micro-market (Tourism Accommodation Australia | Australia, 2016). In this report, the revenue management of an organization named Novotel Sydney on Darling Harbour has been studied and analyzed in detail in order to determine the financial condition of the organization in the overall hospitality industry. In order to optimize the revenue, pricing is considered as one of the two strategic levers that can be used to optimize the revenue of an organization. Thus, in this report, a revenue management strategy for the financial year 2016 July/ 2017 June has been analyzed in order to run the business of the organization effectively and efficiently. For detailed study, market segment analysis, competitor set analysis, demand forecasting and channel analysis have been performed in order to better understand the market and the financial condition of the particular firm. Analysis of the market segmentation The market segmentation of the Novotel Sydney, darling Harbour can be analyzed by taking into consideration several factors that include public, promotions, negotiated rates, groups, wholesales and others. Public: BAR Official Website: The best available rates are marketed through the websites BAR Direct: The Best available rates are marketed through phone, fax and the emails (Casado, 2012). BAR Indirect Commissionable: The Best Available Rates are primarily marketed through different commissionable online travel agents BAR Indirect Net Best Available Rate can also be marketed through the net rate online travel agencies Groups: The market of the Novotel, Sydney can be segmented based on the groups that are mentioned below: Groups Leisure Business Wedding/Special Occasion Events Crew Conference (Testa Sipe, 2012). Whole sale: The target market of the Novotel Sydney Darling Harbour can be divided based on different forms of the wholesale: Wholesale Tour and Travel Operators Tour and Travel Wholesalers (Dunbar, 2013) Consulted Rates: The consulted rate or else the negotiated rates of the Novotel Sydney Darling Harbour can segment the market into different categories that includes the Corporate Dynamic Rates, corporate flat rates, rates for government and other crews (Dunbar, 2013). Negotiated Rates Corporate Rates Flat Corporate Rates Government Crew Other facets of segmentation: The other criteria for segmentation of the market of the Novotel Sydney Darling Harbour include the Complimentary use, barter, walk-in, overbooking, and house use and time share (Folkestone, 2016). Other factors of Segmentation Complimentary use, Barter, Walk-in, Booking, House Use and Time Share Environmental scanning Political Environment The government can overcome different barriers to development of hotels in different parts of Sydney and boost the business environment of the hotel industry in which the Novotel Sydney operates Reports reveal the fact that the increase in the supply of hotels in Sydney from 150 to 550 rooms per year by the end of the year 2020 can permit the increases in the supply in order to meet various demands and at the same time permit the development of a sustainable hotel industry (Home, 2016). In case of the company Novotel, Sydney, the political environment scan reveals the fact that Australia is a liberal capitalistic democracy and the economy persistently interferes in the operations of different nations. The government also affects the policies of the taxation of the economy (Meissner Strauss, 2012). Economic Environment The economic factors that commonly affect the business operations of the Novotel Sydney mainly include the confidence of the consumers, the rate of employment in the economy, rate of interest as well as inflation (Ovchinnikov Milner, 2012). The condition of the economy, system of the economy, policies of the government, the industrial strategies, import as well as export policies are the main economic factors that affect the business operations of the Novotel Sydney (Folkestone, 2016). Reports reveal the fact that the Australia holds the 10th rank in the area of the Ease of Doing Business index (Dunbar, 2013). In addition to this, the Australia based Novotel is also a positively influenced by the persistent growth of the economy of Australia, low rate of inflation in Australia, contained rate of inflation and very low rate of public debt (Ovchinnikov Milner, 2012) (Meissner Strauss, 2012). Socio-cultural environment Australia is regarded as an assortment of diverse individuals residing in a comparatively young community. In addition to this, there is no official religion in the nation with 26% Anglican, 26% Roman Catholic and 24% Christian among many other categories. The increase in the overall level of education of the people of Australia affects the business operations of Novotel, Sydney. Again, there can be high concentration on the assimilation of different cultural groups into different dominant British Australian traditions. Trend Analysis The five-starred hotel, Novotel Sydney have acquired high rate of growth in the supply with persistent growth in demand (Ovchinnikov Milner, 2012). Reports reveal the fact that there is a 2.2% increase in the supply corresponding to 1.5% increase in demand for the hotel industry (Casado, 2012). On the other hand, there is a 0.6% decline in the occupancy rate along with a 2.6% increase in the mean daily rate (Casado, 2012). The average daily rate is now registered to be AUD 230.74 in addition to a 2% increase in the revenue per available room (Dunbar, 2013). According to reports, there is a marginal decrease in the occupancy although the absolute level remains high (Novotel Sydney on Darling Harbour | Darling Harbour Hotels, 2016). According to reports provided by the Deloitte Access Economics, the average rate of occupancy of the Sydney hotels has reached the highest level during the year 2016 ever since the year 2000 (Meissner Strauss, 2012). Generational Targeting The management of Novotel, Sydney has positioned itself to engage guests of different generations and serve them something more than just a hotel stay. The management of the company therefore devises strategy for customer engagement that can appropriately attune to the psychological association of the guests to the brand and help the hoteliers in anticipating the desires of the guests in a better way. On an average, one in a five consumer remains potentially engaged. However, this holds true for 22% of the guests belonging to the generation X (Schwartz et al., 2012). Again, the rate of engagement rises for the Millennial to 20%, 25% for the Baby Boomers and 26% or the traditionalists (Semrad, 2014). However, there is relatively lower percentage of young guests that can be engaged with the services of the hotels. The management of the hotel Novotel, Sydney can therefore target the generation Y as the emerging targeted segment in the hotel industry (Semrad, 2014). The hotelier can ther efore concentrate on the pre-purchasing process online, healthy eating as well as eco-friendliness and technology induced services. The young customers also aspire for luxury consumption and depend on the credit as well as thrift culture of shopping. Customer Worth The total Customer Worth can also be referred to as the dollar value of the total customer association founded on the present life-time value. The total customer value refers to the perception of the customer regarding what the customer receives in comparison to what the customer pays (Singh et al., 2016). Therefore, the customer lifetime value makes attempt to make out the economic value those customers can bring in to the business over the entire lifetime of the customers. The life-time value can also be regarded as the prediction of the overall net profit that can be attributed to the entire future association with the customer (Steinhardt et al., 2012). Analysis of the competitor set Identification of the competition The analysis of the competitor set of the Novotel, Sydney reveals the fact that the company does not face the challenges of competition as the company has entered into the arena of premium and luxury hotel industry. The big companies are very much likely to enter into the domain in the near future. Again, the small local hotels do not pose any challenge to the company Novotel, Sydney. The main competitors of the Novotel Sydney include the Amora Hotel Jamison Sydney, Sir Stamford At Circular Quay, QT Sydney and many more. The premium class luxury hotels pose challenge to the business of the Novotel, Sydney as the five star rated hotel offers high level of services and is very organized in their operation (Novotel Sydney on Darling Harbour | Darling Harbour Hotels, 2016). Competitive intelligence The management of the company can develop the competitive intelligence by increasing the revenue by way of smart evaluation of the overall market as well as competitive set having the historical as well as the forward looking data (Ovchinnikov Milner, 2012). The twenty four cycle of the news needs to shorten different time to press of different environmental events as well as business developments that can affect the overall business of the Novotel, Sydney. The competitive intelligence of the hotel also recognizes with different risks as well as opportunities before the events occur (Schwart et al., 2012). Therefore, the competitive intelligence also includes the variances between different widely accessible factual information that includes traditional information accessible from different online, social media and unique perspectives on the developments as well as events that can yield the competitive edge. Therefore, the competitive intelligence of the professionals includes sophi sticated training as well as processes in order to acquire important information and convert the same into intelligence for business decision making. Competitive Advantage The competitive advantage refers to different conditions or else state of affairs that facilitates the company to remain in a favourable or else superior business position. The business advantage of the Novotel, Sydney SWOT analysis The market condition of the organization Novotel, Sydney can be better understood from the SWOT analysis as this particular analysis helps an analyst to distinguish between the companys strengths, weaknesses, opportunities and threats. Strengths: Location Service Corporate Social Responsibility Sustainability Brand Accommodation Atmosphere Weaknesses: Price Association to hotel rather than Conference venue Opportunities: Brand Image Flexibility Threats: Competitors Declining Market Strengths: The particular organization Novotel is situated on Darling Harbor at Sydney, in Australia, the largest capitalist nation in the world. This location attracts many visitors and thus it can be said that the particular location is considered as one of the strengths of the organization (Bodea Ferguson, 2014). Additionally, the brand name, high accommodation capability, healthy atmosphere, sustainability of the firm and its CSR activities adds more value to the organization (FitzPatrick et al., 2013). Weaknesses: The price or the rate of the organization Novotel is relatively higher than any other hotels. Thus, it sometimes acts as an obstacle to the revenue generation process of the organization. Moreover, Novotel is more associated with hotel than conference venue, thus, the business people cannot select this particular hotel for the purpose of conference (Novoteldarlingharbour.com.au, 2016). Opportunities: The flexibility of the firm Novotel and the image of the brand act as the opportunities for the particular organization. The reason behind this is that the brand image helps the firm to attract more customers and thus it also helps to enrich the revenue of the organization Novotel. Threats: The hospitality industry is growing in Sydney and new competitors take entry to the market. This increases the competency of the firm and thus it seems to be a threat for the particular organization Novotel. Moreover, it has been found that due to the economic condition, the market of hospitality industry declines in Sydney (Mauri, 2013). Development of strategies as per the competitive SWOT analysis The management of the Novotel, Sydney can implement the Blue Ocean Strategy that can help the company to gain competitive advantage in the market. The blue ocean strategy refers to the process of elimination of the age old existing concept of offering guests with different private rooms (Chen et al., 2012). Again, the blue ocean strategy of the company also includes raising the awareness regarding the concept of the backpacking trips as well as sharing the rooms with the world (Wang, 2012). However, the strategy also involves the reduction of different elements with high cost in order to increase the cost efficiency. Demand Forecasting Supply and demand The management of the Novotel, Sydney can concentrate on the growth rate of the demand for the hotel industry in Sydney. The historical figures reflect the fact that the hotel industry in Sydney has not experienced any long-term growth that is near to the targeted figure of the 4.1% per year (Mauri, 2013). Again, as per the reports published between the year 2000 and 2011, there has been an annual average decrease in the nights spent by the visitors to 1.4% (Bodea Ferguson, 2014). However, based on the historical figures on the demand of the visitors we can arrive at the demand forecast figures until the year 2020. In order to attain the growth targets for the future, the hoteliers can devise long term approaches by taking into consideration different marketing initiatives and at the same time the infrastructure for the investment. Figure 1: Future Demand Scenarios (Source: Bodea Ferguson, 2014) The management of the hotelier Novotel, Sydney can consider the Australian Tourism Accommodation Model in order to recognize with the future conditions of the hotel market. The model takes into account the multi-equation as well as structural model that can incorporate different economic facets in the hotel accommodation market and takes into account the supply, demand as well price in a very dynamic setting. The scenario 1 refers to the scenario when the annual average increase in the demand during the year 2012 to 2020 is 549; the scenario 2 refers to the situation when the mean increase in the demand profile is 395 and the scenario 3 indicates the demand profile that equals to 145 (Hawkins Chen, 2014). The limited growth in the overall supply of the hotels in the industry can also offer some stimulus to the increase in the hotel room in the Novotel, Sydney as well. Figure 2: Future Annual Hotel Room Supply (Source: Hawkins Chen, 2014) Price Elasticity The price elasticity of demand can be calculated by the dividing the percentage change in the quantity demanded by the percentage change in the price (The Digital Economist., 2016). The equation on the price elasticity essentially represents the comparative responsiveness to the demand founded on the price. For instance, in case if the hotelier has 100 available hotel rooms where 20% of the inventory can be marketed at AUD100, then the marketer needs to increase the price of the remaining 80 hotel rooms owing to the lower number of inventory and thereby need to decrease the number or else the quantity to be marketed. The basic principle of the revenue management is to market at the highest possible price (The Scholarly Commons | Cornell University School of Hotel Administration Research., 2016). The total availability in the market place can also affect the price elasticity of demand. Finally, it can be said that the price elasticity of the demand or else the internal compression as well as the demand competitor pricing is equivalent to the price optimization (Tourism Accommodation Australia | Australia, 2016). Management of Demand The changes in the procedure of the distribution, rise of the internet among many other factors have affected the demand management process in the hotels. The staff members, members of the regional chains and the managers of the chain manage the demand factor in the hotel. The factors that the managers of Novotel can take into consider for management of the demand include gauging the response of the market, appropriate segmentation of the market and the related pricing strategy along with the price response to different competitive sets. The process of enumeration of the market response is the enumeration of the response of the consumers towards the pricing policy, promotional strategy and different marketing initiatives adopted by the hotelier. Impact of the elasticity of price on the consumer spending and revenue There exists a relationship between the elasticity of demand with the total revenue of the corporation. The inelastic demand can lead to increase in the prices and at the same time increase in the revenue. Again, the elastic demand can lead to fall in the prices and in turn a rise in the total revenue of the firm Novotel, Sydney. Figure 3: Effect of Price Elasticity of Demand on Revenue (Source: Hawkins Chen, 2014) Channel Analysis Reservation Evolution The evolution of the hotel reservation system is also considered as a vital factor in the hospitality industry. As per the organization Novotel, booking is one of the important parts of service thus; here evolution of this booking or reservation system has taken place. This includes online booking system, reservation through phone call and in person booking is also available for the firm Novotel (Walker Walker, 2012). All the systems have been evolved and designed in order to suit both the domestic and international customers. The evolution in the reservation system has taken place, thus, confirmation of the booking is done by Novotel over the phone only or over the e-mails (Hawkins Chen, 2014). These evolutions and modifications are considered by Novotel in order to earn more new customers and also to retain the existing ones. Global Distribution System (GDS) The GDS system helps to maintain both local and international commercial contracts with every type of client. It has been found that Novotel has generated more than 500 major corporate client accounts across the world by negotiating with the leisure, business and intermediary partners (Novoteldarlingharbour.com.au, 2016). Preferential agreements and strategic partnerships with the leading OTAs (online travel agencies) also help Novotel in GDS (McMahon-Beattie Yeoman, 2014). In addition to these, the contracts with 200 major airline companies, biggest international travel organizers and agreement with leading events procurement agencies (like meetings, conferences, incentives and seminars) also help Novotel in GDS (Novoteldarlingharbour.com.au, 2016). Property Management Systems (PMS) PMS is also known as Hotel Operating System (Hotel OS) that is used in the particular organization Novotel. These are computerized systems which help to facilitate the personal property, equipment and management of properties (Novoteldarlingharbour.com.au, 2016). Therefore, Novotel uses the cloud technology and software-as-a-service model for better running of the organization. Distribution Costs It has been found that Novotel has planned to invest an amount of 220 million euro in next four years in order to serve the common interest in the best way (Novoteldarlingharbour.com.au, 2016). The particular firm is ambitious regarding the digital strategy and thus it considers the foreseeable future to be digitalized, as it will help to decrease the distribution costs. Channel Selection The strong reservation system of Novotel acts as an efficient distribution platform that helps to meet all the requirements of the organization from online reservation and online payment to optimization of sales value and management. Moreover, the direct sales distribution channel of the firm like a stronger online presence, growth of presence of mobile, after-sales service and call centres helps Novotel to earn more revenue (Arenoe, van der Rest Kattuman, 2015). Conclusion The above study helps in gaining a deep understanding regarding the market segmentation of the hotelier, business environment of the hotel in which it operated. In addition to this, the current study also helps in understanding the existing trends along with the total worth and the lifetime value of the customer. Subsequently, the study deals with the analysis of the competitors in the market and evaluates the competitive intelligence, competitive advantage, SWOT and the development strategies as per the SWOT analysis of the Novotel, Sydney. Thereafter, the present study presents a detailed overview regarding the demand and supply forecasting, process of the management of the demand, distribution channels and costs along with channel selection. References Arenoe, B., van der Rest, J. P. I., Kattuman, P. (2015). Game theoretic pricing models in hotel revenue management: An equilibrium choice-based conjoint analysis approach.Tourism Management,51, 96-102. Bodea, T., Ferguson, M. (2014).Segmentation, revenue management and pricing analytics. Routledge. Casado, M. (2012).Housekeeping management. Hoboken, N.J.: John Wiley Sons. Chen, R. X., Cheung, C., Law, R. (2012). A review of the literature on culture in hotel management research: what is the future?.International Journal of Hospitality Management,31(1), 52-65. FitzPatrick, M., Davey, J., Muller, L., Davey, H. (2013). Value-creating assets in tourism management: Applying marketing's service-dominant logic in the hotel industry.Tourism Management,36, 86-98. Folkestone. (2016).Folkestone.com.au. Retrieved 11 August 2016, from https://folkestone.com.au Hawkins, A., Chen, J. (2014). Revenue Management in the Hotel Industry. Home. (2016).Owners.org. Retrieved 11 August 2016, from https://www.owners.org Hotel Channel Manager, Online Distribution, Rate Intelligence solutions - LIVE, RateTiger, RTConnect, Analytics by eRevMax. (2016).Erevmax.com. Retrieved 11 August 2016, from https://www.erevmax.com Mauri, A. G. (2013).Hotel revenue management: Principles and practices. Pearson Italia Spa. McMahon-Beattie, U., Yeoman, I. (2014). Revenue Management in Tourism.The scope and coverage of contemporary marketing issues with different perspectives makes the Handbook very unique in that it crosses not only disciplinary boundaries with critical and latest thinking but also links theory to the practical process of marketing applications and strategies. It is an excellent addition to the scholarly tourism marketing literature. It is a must have book for anyone who is involved in tourism and destination marketing., 370. Meissner, J., Strauss, A. (2012). Network revenue management with inventory-sensitive bid prices and customer choice.European Journal of Operational Research,216(2), 459-468. Novotel Sydney on Darling Harbour | Darling Harbour Hotels. (2016).Novoteldarlingharbour.com.au. Retrieved 11 August 2016, from https://www.novoteldarlingharbour.com.au Ovchinnikov, A., Milner, J. M. (2012). Revenue management with endà ¢Ã¢â€š ¬Ã‚ ofà ¢Ã¢â€š ¬Ã‚ period discounts in the presence of customer learning.Production and operations management,21(1), 69-84. Schwartz, Z., Stewart, W., Backlund, E. A. (2012). Visitation at capacity-constrained tourism destinations: Exploring revenue management at a national park.Tourism Management,33(3), 500-508. Semrad, K. (2014).Heads in Beds: Strategic Discounting for Hotels. SaarbruÃÅ'ˆcken: Scholars' Press. Singh, V., Detlefsen, H., Kett, R., E., E. (2016).Hospitality Net - Home.Hospitality Net. Retrieved 11 August 2016, from https://www.hospitalitynet.org Steinhardt, C., Gnsch, J. (2012). Integrated revenue management approaches for capacity control with planned upgrades.European Journal of Operational Research,223(2), 380-391. Testa, M. R., Sipe, L. (2012). Service-leadership competencies for hospitality and tourism management.International journal of hospitality management,31(3), 648-658. The Digital Economist. (2016).Digitaleconomist.org. Retrieved 11 August 2016, from https://www.digitaleconomist.org The Scholarly Commons | Cornell University School of Hotel Administration Research. (2016).Scholarship.sha.cornell.edu. Retrieved 11 August 2016, from https://scholarship.sha.cornell.edu Tourism Accommodation Australia | Australia. (2016).Tourismaccommodation.com.au. Retrieved 11 August 2016, from https://www.tourismaccommodation.com.au Walker, J. R., Walker, J. T. (2012).Introduction to hospitality management. Pearson Higher Ed. Wang, X. L. (2012). Relationship or revenue: Potential management conflicts between customer relationship management and hotel revenue management.International Journal of Hospitality Management,31(3), 864-874.