Book Discription
This research monograph aims at developing an integrative framework of hotel revenue management. It elaborates the fundamental theoretical concepts in the field of hotel revenue management like the revenue management system, process, metrics, analysis, forecasting, segmentation and profiling, and ethical issues. Special attention is paid on the pricing and non-pricing revenue management tools used by hoteliers to maximise their revenues and gross operating profit. The monograph investigates the revenue management practices of accommodation establishments in Bulgaria and provides recommendations for their improvement.
The book is suitable for undergraduate and graduate students in tourism, hospitality, hotel management, services studies programmes, and researchers interested in revenue/yield management. The book may also be used by hotel general managers, marketing managers, revenue managers and other practitioners looking for ways to improve their knowledge in the field.
Introduction to hotel revenue management
Revenue management, also known as yield management, is an essential instrument for matching supply and demand by dividing customers into different segments based on their purchase intentions and allocating capacity to the different segments in a way that maximizes a particular firm’s revenues (El Haddad, Roper & Jones, 2008). Kimes (1989) and Kimes & Wirtz (2003) define revenue management as the application of information systems and pricing strategies to allocate the right capacity to the right customer at the right price at the right time.
Economic fundamentals of hotel revenue management
Setting prices for hotel rooms based on supply and demand. Managing inventory by allocating rooms across different distribution channels, such as direct booking and online travel channels, and setting minimum lengths of stay. Forecasting demand and adjusting prices accordingly
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Book Information
Print Length
205 Pages
Language
English
Publisher
Zangador Ltd
Publication Date
2014
Dimensions
05 X 6 X 9 inches
ISBN-10
ISBN-13
978-954-92786-3-7