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Author: Malte Rücker Publisher: diplom.de ISBN: 3842828101 Category : Travel Languages : en Pages : 141
Book Description
Inhaltsangabe:Introduction: An integrated approach to Revenue Management (RM), which spans over various disciplines, has frequently been proposed for tourism companies providing perishable products of fixed capacity, such as hotel chains, to fully capture the potential of total profit optimization. Kimes and Wagner (2001) defined the general strategy of revenue management as the practice used by service firms with fixed capacity to match the supply of a perishable commodity with forecasted demand via strategies that manipulate price and time of consumption. Furthermore, revenue management and pricing programs have commonly been praised to have the potential to increase revenues by 3 to 8 % which can in turn result in 50 to 100 % profit improvements. This thesis proposes a departmental and functional integration of various activities to arrive at an integrated revenue management approach that is viewed as the necessary reaction to changing market environment conditions. Information and communication technologies (ICTs) have been changing the tourism industry structure globally, while developing many new opportunities and threats. In this new environment, revenue management becomes as important and challenging as never before and to operate effectively, skills are required to combine several knowledge areas steadily and creatively to make profit from the process. Consequently, it is proposed that particularly due to the modern tourism environment, companies have to make use of strategic integrated revenue management to offset the threats and take advantage of opportunities that the modern tourism environment represents. An integrated approach to revenue management spans the disciplines of yield management, pricing, marketing, sales and e-commerce distribution and seeks to identify linkages to effectively and efficiently coordinate activities in the different areas to arrive at total profit optimization. The thesis is designed to illustrate how Revenue Management Integration (RMI) could be achieved, and the research part aims to asses whether hotel chains that embrace a higher degree of Revenue Management Integration operate at higher profitability.1.1. Research Questions This thesis is designed to evaluate whether an integrated revenue management process provides benefits in terms of financial performance to tourism companies selling perishable inventory such as hotel chains, in particular in a changed and more competitive tourism environment. [...]
Author: Malte Rücker Publisher: diplom.de ISBN: 3842828101 Category : Travel Languages : en Pages : 141
Book Description
Inhaltsangabe:Introduction: An integrated approach to Revenue Management (RM), which spans over various disciplines, has frequently been proposed for tourism companies providing perishable products of fixed capacity, such as hotel chains, to fully capture the potential of total profit optimization. Kimes and Wagner (2001) defined the general strategy of revenue management as the practice used by service firms with fixed capacity to match the supply of a perishable commodity with forecasted demand via strategies that manipulate price and time of consumption. Furthermore, revenue management and pricing programs have commonly been praised to have the potential to increase revenues by 3 to 8 % which can in turn result in 50 to 100 % profit improvements. This thesis proposes a departmental and functional integration of various activities to arrive at an integrated revenue management approach that is viewed as the necessary reaction to changing market environment conditions. Information and communication technologies (ICTs) have been changing the tourism industry structure globally, while developing many new opportunities and threats. In this new environment, revenue management becomes as important and challenging as never before and to operate effectively, skills are required to combine several knowledge areas steadily and creatively to make profit from the process. Consequently, it is proposed that particularly due to the modern tourism environment, companies have to make use of strategic integrated revenue management to offset the threats and take advantage of opportunities that the modern tourism environment represents. An integrated approach to revenue management spans the disciplines of yield management, pricing, marketing, sales and e-commerce distribution and seeks to identify linkages to effectively and efficiently coordinate activities in the different areas to arrive at total profit optimization. The thesis is designed to illustrate how Revenue Management Integration (RMI) could be achieved, and the research part aims to asses whether hotel chains that embrace a higher degree of Revenue Management Integration operate at higher profitability.1.1. Research Questions This thesis is designed to evaluate whether an integrated revenue management process provides benefits in terms of financial performance to tourism companies selling perishable inventory such as hotel chains, in particular in a changed and more competitive tourism environment. [...]
Author: Malte Rücker Publisher: GRIN Verlag ISBN: 3656106746 Category : Business & Economics Languages : en Pages : 145
Book Description
Diploma Thesis from the year 2010 in the subject Tourism - Miscellaneous, grade: 1,8, International University of Applied Sciences Bad Honnef - Bonn (Internationale Hochschule Bad Honnef-Bonn (IUBH)), course: International Tourism and Hospitality Management, language: English, abstract: The diploma thesis assesses the opportunity to implement an integrated approach to revenue management in order to meet the challenges of the competitive tourism environment, which are particularly stemming from the increasing importance of the internet. It is proposed that effective and efficient coordination of the disciplines of revenue management, marketing, sales and e-commerce leads to Revenue Management Integration (RMI), which has a positive effect on financial performance and competitiveness. The thesis aims at identifying key linkages among the disciplines and creates a guideline of how the integration may be achieved. Using multivariate regression, it is tested with 30 hotels, affiliated to eight of the largest hotel chains in Germany, whether Revenue Management Integration is positively related to financial performance. The study showed that integrated revenue management is positively related to RevPAR performance in hotel properties, while the relationship to other profitability measures, such as Return on Equity (ROE) and Operating Profit Margin (OPM) did not yield clear results.
Author: Ioannis S Pantelidis Publisher: Routledge ISBN: 1317804244 Category : Business & Economics Languages : en Pages : 362
Book Description
Hospitality is an industry characterised by its complex nature and numerous sectors including hotels, hostels, B&Bs, restaurants, pubs, nightclubs and contract catering. However, despite its segmentation, there are key issues that are pertinent to all subsectors. The Routledge Handbook of Hospitality Management adopts a strategic approach and explores and critically evaluates current debates, issues and controversies to enable the reader to learn from the industry’s past mistakes as well as future opportunities. Especially relevant at a time when many sectors of the industry have to re - evaluate and reinvent themselves in response to the economic downturn the Handbook brings together specialists from both industry and academia and from a range of geographical regions to provide state-of-the-art theoretical reflection and empirical research. Each of the five inter related sections explores and evaluates issues that are of extreme importance to hospitality organisations, many of which have not been adequately explored before: external and internal customers, debates surrounding finance, uncertainty risk and conflict, sustainability, and e-Hospitality and Technology. This book is an invaluable resource for all those with an interest in hospitality, encouraging dialogue across disciplinary boundaries and areas of study. It is essential reading for students, researchers & academics and managers of Hospitality as well as those of Tourism, Events, Marketing, and Business Management.
Author: Robert G. Cross Publisher: Crown Currency ISBN: 0307788989 Category : Business & Economics Languages : en Pages : 289
Book Description
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.
Author: Stanislav Ivanov Publisher: Zangador ISBN: 9549278638 Category : Travel Languages : en Pages : 205
Book Description
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.
Author: Ira Vouk Publisher: Ira Vouk ISBN: 1304065804 Category : Business & Economics Languages : en Pages : 208
Book Description
This immersive manuscript was written for everyone who wants to better understand the complex realm of hospitality technology. It is for any industry professional who aims to become more successful in the hospitality business: owners, operators, students, lecturers, consultants, investors, tech founders, and other employees of technology companies in travel and hospitality, including product managers, sales, marketing, and customer service teams. The goal of this book and the supplemented diagrams is to help you make sense of the digital chaos, aiding industry professionals in gaining a clearer understanding of how our tech ecosystem functions. Here are the key concepts that are addressed in this book: - How to view our industry from a 360-degree perspective and understand key players and stakeholders. This includes an explanation of the industry’s composition, which affects technology adoption (fragmentation, stakeholders, main categories of decision-makers). - How to easily navigate the complex layout of the hotel technology ecosystem. - Integration dependencies and how they affect technology adoption. - All things AI, related to travel and hospitality. This book aims to not just shed light on the subject but align all stakeholders, and ultimately drive innovation in our industry. It will enable hoteliers to understand how to navigate the complex world of hospitality tech and make optimal tech investment decisions. But at the same time, it will assist tech vendors in better understanding our industry, including their relationships with other players in the market, so they can be more efficient in scaling their products. Additionally, this book will play an important role in getting investors on the same page. They’re the ones who ultimately vote with their wallets, directly affecting the evolution of technology in our industry. It’s essential for them to understand how to make investment decisions that will yield optimal results and significantly improve technology adoption rates thus finally dragging our industry by its ears into the 21st century. This publication will help many hospitality companies learn better ways to succeed in the new Hospitality 2.0 environment. Many problems that hospitality businesses face can be overcome with the right knowledge. If you have the knowledge – you have the power to succeed.
Author: Marc Helmold Publisher: Springer Nature ISBN: 3030469859 Category : Business & Economics Languages : en Pages : 201
Book Description
This book explores total revenue management (TRM), an emerging concept in revenue management that incorporates existing principles and tools of revenue management across all profit streams. It is a professional's guide to using TRM in an optimal and innovative manner to gain competitive advantage. Readers will gain comprehensive insights into the strategies, tools and principles of TRM including existing and emerging revenue streams across the value chain. The author offers a transparent and holistic explanation of pricing strategies, segmentation methods and distribution principles which enable implementation of TRM in organizations.
Author: Gabor Forgacs Publisher: Pearson Higher Ed ISBN: 0133474720 Category : Business & Economics Languages : en Pages : 125
Book Description
This is the eBook of the printed book and may not include any media, website access codes, or print supplements that may come packaged with the bound book. This short course provides students with an overview of this important discipline and is an ideal supplement to a marketing, front office, or general operations class. A solid understanding of revenue management’s key concepts and the selective application of its most effective strategies and tactics have become mission critical for most hospitality operations. This NEW book explores the applicability of revenue maximization strategies and their operational aspects. Readers will learn the difference between strategic and tactical revenue management and why that distinction is critical, the tools that are available to revenue managers and when to use them, the broad range of information needed to effectively maximize revenue, vital issues to consider before implementing revenue management tactics, how revenue management is often misunderstood and applied inappropriately, the significant potential consequences of using revenue management poorly, as well as the benefits it can provide when done well.
Author: Ian Yeoman Publisher: Cengage Learning ISBN: 9781844800629 Category : Business enterprises Languages : en Pages : 0
Book Description
Revenue management is the process of allocating the right inventory to the right kind of customer at the right price to maximise revenue. It applies particularly to the service sector. Covering numerous industries, these case studies demonstrate a variety of scenarios, problems and solutions.
Author: Robert Phillips Publisher: Stanford University Press ISBN: 0804781648 Category : Business & Economics Languages : en Pages : 470
Book Description
This is the first comprehensive introduction to the concepts, theories, and applications of pricing and revenue optimization. From the initial success of "yield management" in the commercial airline industry down to more recent successes of markdown management and dynamic pricing, the application of mathematical analysis to optimize pricing has become increasingly important across many different industries. But, since pricing and revenue optimization has involved the use of sophisticated mathematical techniques, the topic has remained largely inaccessible to students and the typical manager. With methods proven in the MBA courses taught by the author at Columbia and Stanford Business Schools, this book presents the basic concepts of pricing and revenue optimization in a form accessible to MBA students, MS students, and advanced undergraduates. In addition, managers will find the practical approach to the issue of pricing and revenue optimization invaluable. Solutions to the end-of-chapter exercises are available to instructors who are using this book in their courses. For access to the solutions manual, please contact [email protected].
Author: Malte Rücker
Author: Malte Rücker
Author: Malte Rücker
Author: Ioannis S Pantelidis
Author: Robert G. Cross
Author: Stanislav Ivanov
Author: Ira Vouk
Author: Marc Helmold
Author: Gabor Forgacs
Author: Ian Yeoman
Author: Robert Phillips