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What are three major streams of revenue management?
Research on revenue management has extended to several industries, with three major streams of investigation: descriptive (whether revenue management will work for a particular industry), pricing control, and inventory control.
Why is revenue management important in the hotel industry?
Revenue management is of especially high relevance in cases where fixed costs are high as compared to variable costs. The less variable costs there are, the more added revenue will contribute to overall profit. This makes revenue management perfect for the hotel industry.
What are some issues related to revenue management?
Related issues such as economic concerns, customer perception, competition, and common techniques and approaches used for solving revenue management problems are also discussed. Finally, I give my suggestion on some important areas that warrant further research.
Last Update: Oct 2021
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