StudentShare solutions
Got a tricky question? Receive an answer from students like you! Try us!

Essay example - Revenue management practice in Hotel Management

Only on StudentShare
Revenue management practice in Hotel Management Essay example
Masters
Essay
Tourism
Pages 12 (3012 words)
Revenue Management Practice in Hotel Management Name Tourism Date Application of Revenue Management Practice in the Hotel Industry Revenue management within hotels happens to be a practice, which has developed extensively within a relatively short history…

Extract of sample

Nonetheless, perhaps understandably, modern hotel revenue management brand varies extensively from that of more than two decades ago. Modification in the general handling of revenue management, inventory allocation, pricing strategy, use of information and channel management as concerns to revenue management tend to redefine the field. Similarly to how detailed past analysis might have a representation of the best pricing practice during the 1990s, apparently, the stock market-impacted algorithms exist in the cutting edge of modern pricing thought. Comparably, the highlighting on occupancy or average day to day rate, which might have dominion over revenue managers’ outlook over two decades ago has led to the dominance of revenue per available room i.e. RevPAR. Instances like this abound hence this article will endeavor to share all of the revenue management expertise with readers, in a series examining the modern revenue management’s best practices (Kimberley, Trevor & Juston 2008, p.12). Strategic Pricing Pricing tends to a feature of revenue management, which features a number of intriguing, as well as innovative developments recently. Whereas pricing has continues to be a significant driver having an effect on both occupancy, along with RevPAR, in the present environment surrounded by exceptional price transparency, rates have taken an even bigger role. ...
Download paper
Not exactly what you need?

Related papers

How do quality management systems impact on revenue in the hospitality industry
This research paper shows that quality management systems have positive impact on revenues of hospitality industry. It has been observed that this has been achieved by improved market share, brand image, ROI and competitive positioning. However, some concerns regarding the impact of these systems on overall performance of the firms have been highlighted. One of the concerns is the sincerity of…
10 pages (2510 words)
Pricing Strategies and their impact on Revenue
Revenue management has been a practice in the hotel industry for approximately 20 years (Anderson et al., 1994). Good revenue management results from a correlation of pricing and hotel occupancy. The study came to the conclusion that the hotels which maximized their revenue tended to have relatively higher prices and did not engage in price undercutting (Enz & Canina, 2008). Another study found…
10 pages (2510 words)
Impact of information technology on Hotel Business.
Hence, these changing information technology trends in hospitality industry force all economical hospitality firms to practically take advantage of any innovative technology that can offer their business considerable perfection in forms of greater customer satisfaction and employee efficiency. There are numerous researches have been conducted to determine the impact of information technology on…
12 pages (3012 words)
Sustainability in the Hotel Industry
This paper also talks about the environmental sustainability of hotel mainly Holiday Inn a part of InterContinental Hotel Groups and also the largest chain of hotels globally. it talks about the environmental sustainability practiced by Holiday inn in various place and locations and the benefit that the hotel has experienced through implementing the sustainability program. Holiday Inn has also…
12 pages (3012 words)
International Tourism and Hotel Management
Reservations may be made via electronic means or through travel agents (Cooper, 2012). Revenue management and forecasting the estimated costs, duration and revenue from potential customers are crucial for the hotel during this stage. Upon successful reservation the scheduling of tasks and activities takes place which is followed by arrival of the guest (Cooper, 2012). This is a critical stage…
3 pages (753 words)
To critically analyze of the impact the Customer Relationship Management has made on Customer Loyalty in Renaissance Beijing Cap
The dissertation begins with a comprehensive introduction, explaining what the paper is all about and giving a chronological sequence of how the text shall unfold in subsequent sections. Later the author has reviewed the literature in detail that has been utilized and studied to ascertain theories applicable to this scenario and how they are helpful in analyzing the practices being followed by…
20 pages (5020 words)