Question.Pricing is said to be one of two strategic levers used to optimize revenue and is arguably the most critical component of revenue managementIn this assessment, you will prepare a report as if you were the revenue manager for the Novotel Sydney on Darling harbor.You are asked to present a report to your hotels general manager that recommends a revenue management strategy for the financial year 2016 July/ 2017 June. Aspects that require critical consideration are:1.As analysis of market segmentation(Business or transient, leisure, government, contracts, tours and travel groups etc). Write about environmental scanning, trend analysis and generational targeting, total customer worth and total customer value)2.An analysis of the competitor set(Identifying the competition, competitive intelligence, competitive advantage, SWOT analysis, developing strategies according to competitive SWOT analysis)3.Demand forecasting (Supply and demand, price elasticity, managing demand, impact of price elasticity on consumer spending and revenue, demand forecasting)4.Channel analysis (Reservation evolution, Global distribution system (GDS), property management systems, distribution costs, channel selection)