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REVENUE MANAGEMENT FOR THE HOSPITALITY INDUSTRY Explore intermediate and advanced topics in the field of revenue management with this up-to-date guide In the newly revised second edition of Revenue Management for the Hospitality Industry, an accomplished team of industry professionals delivers a comprehensive and insightful review of hospitality pricing and revenue optimization strategies. The book offers realistic industry examples from hotels, restaurants, and other hospitality industry segments that use differential pricing as a major revenue management tool. The authors discuss concepts critical to the achievement of hospitality professionals’ revenue management goals and include new examinations of the growing importance of effective data collection and management. A running case study helps students learn how to incorporate the revenue management principles and strategies included in the book’s 14 chapters. Written for students with some prior knowledge and understanding of the hospitality industry, the new edition also includes: A brand-new chapter on data analysis and revenue management that addresses many of the most important data and technology-related developments in the field, including the management of big data, data safety, and data security In-depth discussions of revenue management topics including Net Revenue Per Available Room, Direct Revenue Ratio, and other KPIs Major changes to the book’s instructor support materials and an expansion of the instructor’s test bank items and student exercises. An indispensable resource for students taking courses in hospitality management or business administration, Revenue Management for the Hospitality Industry, Second Edition is also ideal for managers and executives in the hospitality industry.
REVENUE MANAGEMENT FOR THE HOSPITALITY INDUSTRY Explore intermediate and advanced topics in the field of revenue management with this up-to-date guide In the newly revised second edition of Revenue Management for the Hospitality Industry, an accomplished team of industry professionals delivers a comprehensive and insightful review of hospitality pricing and revenue optimization strategies. The book offers realistic industry examples from hotels, restaurants, and other hospitality industry segments that use differential pricing as a major revenue management tool. The authors discuss concepts critical to the achievement of hospitality professionals’ revenue management goals and include new examinations of the growing importance of effective data collection and management. A running case study helps students learn how to incorporate the revenue management principles and strategies included in the book’s 14 chapters. Written for students with some prior knowledge and understanding of the hospitality industry, the new edition also includes: A brand-new chapter on data analysis and revenue management that addresses many of the most important data and technology-related developments in the field, including the management of big data, data safety, and data security In-depth discussions of revenue management topics including Net Revenue Per Available Room, Direct Revenue Ratio, and other KPIs Major changes to the book’s instructor support materials and an expansion of the instructor’s test bank items and student exercises. An indispensable resource for students taking courses in hospitality management or business administration, Revenue Management for the Hospitality Industry, Second Edition is also ideal for managers and executives in the hospitality industry.
Written by leading academic and industry experts actively engaged in revenue management, research and teaching this is a new and original treatment of the whole field for students and professionals.
This new textbook, Hospitality Revenue Management: Concepts and Practices, provides a comprehensive, in-depth introduction to the basic concepts and best practices of hospitality revenue management. With a real-world, hands-on approach, the book places students in the role of a revenue manager striving to succeed in an ever-changing hospitality business environment. The book takes a unique multi-author, collaborative approach, with chapters from outstanding industry leaders who share their experience and provide the information necessary to arm students with the most up-to-date tools and methods they to be effective in the hospitality revenue management field. The chapters cover the important topics in hospitality revenue management, including hotel pricing, hotel segmentation, distribution channels, competitive analysis, hotel forecasting, performance analysis, market data, supply and demand management, and more.
From the man the Wall Street Journal hailed as "the guru of Revenue Management" comes revolutionary ways to recover from the after effects of downsizing and refocus your business on growth. Whatever happened to growth? In Revenue Management, Robert G. Cross answers this question with his ground-breaking approach to revitalizing businesses: focusing on the revenue side of the ledger instead of the cost side. The antithesis of slash-and-burn methods that left companies with empty profits and dissatisfied stockholders, Revenue Management overturns conventional thinking on marketing strategies and offers the key to initiating and sustaining growth. Using case studies from a variety of industries, small businesses, and nonprofit organizations, Cross describes no-tech, low-tech, and high-tech methods that managers can use to increase revenue without increasing products or promotions; predict consumer behavior; tap into new markets; and deliver products and services to customers effectively and efficiently. His proven tactics will help any business dramatically improve its bottom line by meeting the challenge of matching supply with demand.
For courses in Introduction to Revenue Management. The first of its kind, this book was written to address the emerging course in Hospitality focused on revenue management. Based on the authors’ years of industry experience, this book includes a model for understanding the revenue management process and reveals four basic building blocks to revenue management success. With chapters dedicated to consumer behavior, economic principles, and strategic management, it outlines key processes and stages of revenue management planning. Four unique application chapters tailor concepts to specific segments of the industry and professional profiles help students learn about possibilities within the field. The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you'll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed.
This book guides the reader from the building blocks of revenue management, to pricing science and merchandising, and to broader issues of setting objectives in support of a revenue strategy. The discipline is evolving, and that evolution has been accelerated by the COVID-19 pandemic. Leaders in hotel revenue management, and more broadly in sales & marketing, need to understand these changes, and lead and adapt accordingly. This will require a strong foundation in analytics–not just modeling, but also business analytics in support of a holistic strategy. As more of the tactics of revenue management are executed through automation, and powered by machine learning, revenue managers will become more focused on strategy and will need to think about revenue management in the context of marketing, loyalty, and distribution. As the strategy component of the discipline increases, so too must the breadth of knowledge of revenue managers.
Hotel Sales and Revenue Management Book 2.0 reflects the changes that Web 2.0 has brought to the hotel industry. Web 2.0 represents a seismic shift in how hotel sales, marketers and revenue managers perform their jobs-separating those that will be average and those that will be awesome! The travel and hospitality industry has had an intricate relationship with the internet since the advent of the Online Travel Agencies such as Expedia, Travelocity, etc. Far more than most industries, the impacting Web 2.0 has been swift and become embedded in the fabric of how the hotel industry conducts business. Do the basics still matter? Yes, but the basics have morphed into a new dynamic driven by changes in the buying habits of customers that increasingly use the internet and social media to make their choices. This shift applies to all segments-from the leisure traveler to the sophisticated meeting planner professionals. Understanding this shift, its evolution and applying the new basics, this book provides a handbook for succeeding in a Web 2.0 world. It is an exciting way and creative approach to hotel sales and revenue management!
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.