Application Exercise #1 Goeldner XXXXXXXXXXChapter 12 Assignment Instructions Word Document Assignment MS Excel Analysis Template Due by Midnight on Week 5 Assignment Overview Demand and Supply...

Please see attached


Application Exercise #1 Goeldner (2009) Chapter 12 Assignment Instructions Word Document Assignment MS Excel Analysis Template Due by Midnight on Week 5 Assignment Overview Demand and Supply Analysis For this exercise you will calculate an estimate of tourism demand for the City of Nashville using a series of selected (and available) secondary data sources. The first source is the published results of the annual tourist intercept study for the city of Nashville. This report provides important tourism behaviors measured through random sampling techniques that can be generalized to produce demand estimates when combined with additional data about tourism traffic into Nashville. The second source is the annual report of deplanements (arrivals) at the Nashville airport. Dr. Goeldner, in Chapter 12 of his text Tourism Principles Practices and Philosophies (2009), describes the factors used in calculating estimated demand. For this exercise you will identify the factors that he has described from the information provided in these two sources and then calculate the total estimated daily demand. These calculations will require some though and adaptation of the instructions that Dr. Goeldner provides to fit the data made available for Nashville, but all of the elements are available to complete the calculation. Because the most recent data for the Visit Nashville intercept survey is for 2018, please use the total 2018-2019 deplanement numbers provided in the report from the Nashville Airport to complete your calculations. I have provided a spreadsheet template where you input the data that you need to complete the calculations. One other note: The STR data that I've provided for Nashville is several years old. Looking at the more recent figures published by Visit Nashville, the current number of hotel rooms available in Nashville is closer to 55,000. Please use the higher number for your calculations. There are many more hotel rooms in the "pipeline" that are under construction or planned. Even with this larger number, I think that you will still find that there is greater demand based on Goeldner's calculation than there is supply. What do you think fills the gap? How would this affect the average daily rate? Do you think that Nashville experiences seasonality? Resources: Nashville Airport Deplanements (Links to an external site.) https://www.flynashville.com/about/Airport%20Data/122017DeplanedPassengers.pdf Nashville Visitor Intercept Survey (Links to an external site.) https://www.visitmusiccity.com/research Hints: · Remember that the deplanements figures only give you those visitors that are arriving by air. How would you use data from the intercept survey to estimate the remaining tourist arrivals? · Goeldner’s formula is based on “100% occupancy.” How would you adjust that to the actual occupancy for Nashville? · Make sure that you have provided a calculation for each cell in the template highlighted in yellow. · Please make sure that each cell that requires a calculation has an Excel formula that produces the requested answer. Once you have completed the calculation answer the following question about the purpose of destination demand estimates. Please submit this word document with your written answers and upload the completed MS Excel spreadsheet template that I have provided through the assignment submission link. Enter the percentage of the total supply available in Nashville that is estimated to be in demand each day. Would you say that this is an under supply or an oversupply of available accommodations to meet demand? 1. As a potential lodging developer, do you think that the market in Nashville can support additional development, based on your analysis of demand? 2. What effect on the cost of lodging (ADR) would you expect based on your analysis of estimated demand and available lodging? 3. What effect do you think that the increasing presence of Airbnb, HomeAway and other sharing economy platforms might have on this calculation?