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Revenue Management For The Hospitality Industry

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Revenue Management for the Hospitality Industry

Revenue Management for the Hospitality Industry Book
Author : David K. Hayes,Allisha Miller
Publisher : Wiley Global Education
Release : 2010-10-19
ISBN : 1118136926
Language : En, Es, Fr & De

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Book Description :

Revenue Management for the Hospitality Industry is filled with practical examples and best practices on the topic of revenue management, a critical aspect of the industry. Through numerous revenue management examples from the hospitality industry and a running case example throughout the book, students will discover how they can incorporate revenue management principles and best practices. The core of revenue management of a hospitality organisation is to, as the authors explain, "charge the right price, to the right customer, for the right product, through the right channel, at the right time." The book is intended for students with prior knowledge and understanding of the hospitality industry, and will explain what they need to know and how to be successful.

Revenue Management for the Hospitality Industry

Revenue Management for the Hospitality Industry Book
Author : David K. Hayes,Allisha Miller
Publisher : John Wiley and Sons
Release : 2010-11-09
ISBN : 0470393084
Language : En, Es, Fr & De

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Book Description :

This is the first text that has been developed specifically to examine what revenue managers in the hospitality industry must know and do to be successful. Numerous cases and practical examples are used to illustrate revenue management concepts. Chapter ending questions and problems help them perform the calculations and practice the decision-making skills that are used in the field. RM in Action shows how the revenue management principles can be clearly illustrated using real-world examples reported in various news outlets. RM on the Web offers sites listed on the Internet to provide supplemental information about a topic or issue. Revenue managers will then gain hands-on skills to effectively manage their inventories and prices.

Introduction to Revenue Management for the Hospitality Industry An Principles and Practices for the Real World

Introduction to Revenue Management for the Hospitality Industry  An  Principles and Practices for the Real World Book
Author : Kimberly A. Tranter,Trevor Stuart-Hill,Juston Parker
Publisher : Pearson Higher Ed
Release : 2013-10-03
ISBN : 129205574X
Language : En, Es, Fr & De

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Book Description :

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.

Hotel Sales and Revenue Management Book 2 0

Hotel Sales and Revenue Management Book 2 0 Book
Author : Carol Verret
Publisher : iUniverse
Release : 2008
ISBN : 0595512569
Language : En, Es, Fr & De

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Book Description :

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!

Hospitality Revenue Management

Hospitality Revenue Management Book
Author : Peter Szende
Publisher : CRC Press
Release : 2020-11-24
ISBN : 1000030814
Language : En, Es, Fr & De

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Book Description :

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.

Revenue Management for Hospitality and Tourism

Revenue Management for Hospitality and Tourism Book
Author : Patrick Legohérel,Elisabeth Poutier,Alan Fyall
Publisher : Goodfellow Pub Limited
Release : 2013
ISBN : 9781908999498
Language : En, Es, Fr & De

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Book Description :

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.The first part of the book provides academically rigorous challenging and contemporary material to get to the core of the subject and to make the theory and practice lively, relevant and engaging. Throughout this, and the second section, numerous references to past and present good practice are used- giving insight into best practice in cutting-edge companies leading the revenue management agenda in markets all over the world. The second part of the book is authored by a range of academics and practitioners all currently engaged in revenue management practice, balancing the theory with the best overview possible of best real world practice. Drawn from the widest possible range of sectors including hospitality, car rental, airlines, tour operators, restaurants and advertising it gives an unrivalled industry perspective.The book is designed for students at many levels in universities, business schools, schools of tourism and hospitality studying marketing, pricing, distribution, selling and commercial issues in the service industry. It will also be ideal for practitioners (consulting experts, revenue managers, pricing managers) studying part-time or on CPD programmes requiring a strong theoretical and practical orientation. It will be essential for those working in revenue management, reservations, operations and logistics and generic marketing.

Hotel Revenue Management

Hotel Revenue Management Book
Author : Dave Roberts
Publisher : Business Expert Press
Release : 2022-01-27
ISBN : 1637421923
Language : En, Es, Fr & De

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Book Description :

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.

Tourism Marketing in Bangladesh

Tourism Marketing in Bangladesh Book
Author : Azizul Hassan
Publisher : Routledge
Release : 2020-10-20
ISBN : 1000193306
Language : En, Es, Fr & De

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Book Description :

Tourism is often a key driver of economic growth in many countries. The recent upward trends of tourism and hospitality education in higher academic institutions in Bangladesh suggests a growing tourism sector. Very little has been written on Bangladesh’s tourism industry. This is the first edited volume published from an international publisher which looks at this industry and how it has developed and flourished. The book begins by looking at tourism policy planning and provides a comprehensive overview of topics from tourism products and services in Bangladesh to how they are being marketed. It also discusses how private and public tourism institutions can address future long term trends. This book will appeal to those interested to learn more about developing tourism industry in emerging economies and may provide invaluable lessons from Bangladesh’s experience and success.

Revenue Management for the Hospitality Industry

Revenue Management for the Hospitality Industry Book
Author : David K. Hayes,Joshua D. Hayes,Peggy A. Hayes
Publisher : John Wiley & Sons
Release : 2021-11-16
ISBN : 1119790778
Language : En, Es, Fr & De

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Book Description :

This revised and updated second edition of Revenue Management for the Hospitality Industry explains pricing and revenue management strategies using realistic and practical industry examples from hotels, restaurants, and many other hospitality industry segments that utilize differential pricing as a major revenue management tool. The book explains, in detail, what hospitality professionals must know and do to become effective revenue managers. A new chapter on data analysis addresses the dramatic rise in the importance of big-data collection and management, as well as the importance of revenue management-related data increasingly posted on social media and social network accounts. A running case throughout the book helps students discover how to incorporate revenue management principles and strategies address in the text’s 14 chapters. The book is intended for students with prior knowledge and understanding of the hospitality industry.

Revenue Management

Revenue Management Book
Author : Robert G. Cross
Publisher : Currency
Release : 2011-04-27
ISBN : 0307788989
Language : En, Es, Fr & De

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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.

Total Revenue Management TRM

Total Revenue Management  TRM  Book
Author : Marc Helmold
Publisher : Springer Nature
Release : 2020-06-03
ISBN : 3030469859
Language : En, Es, Fr & De

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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.

Hotel Revenue Management From Theory to Practice

Hotel Revenue Management  From Theory to Practice Book
Author : Stanislav Ivanov
Publisher : Zangador
Release : 2014-03-15
ISBN : 9549278638
Language : En, Es, Fr & De

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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.

Revenue Management AHLEI

Revenue Management  AHLEI  Book
Author : Gabor Forgacs,American Hotel & Lodging Association
Publisher : Pearson Higher Ed
Release : 2013-05-06
ISBN : 0133474720
Language : En, Es, Fr & De

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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.

Revenue Management Cost Control and Financial Analysis in the Hospitality Industry

Revenue Management  Cost Control  and Financial Analysis in the Hospitality Industry Book
Author : Godwin-Charles Ogbeide
Publisher : Cognella Academic Publishing
Release : 2013-12-23
ISBN : 9781626617520
Language : En, Es, Fr & De

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Book Description :

"Revenue Management, Cost Control and Financial Analysis in the Hospitality Industry" uses a step-by-step spreadsheet approach to accounting and financial analysis. It teaches students budgeting and other financial competencies needed in the hospitality industry and was designed for students and managers to use with little or no facilitation by an instructor. The book begins with an introduction to financial analysis and spreadsheet modeling. Subsequent chapters focus on specific skills such as forecasting, revenue management, and cost control, which support the maximization of profits. Readers will create annual operating budgets, analyze financial statements, and understand the impact of each variable on the organization's performance. Filled with examples and scenarios that are real-world applicable, the material focuses on the facts and solutions needed to solve accounting and financial problems. "Revenue Management, Cost Control and Financial Analysis in the Hospitality Industry" can be used in hospitality accounting and finance courses. It is also a helpful supplement for courses in recreation and sports management, and a useful resource for current and future hospitality managers. Godwin-Charles Ogbeide is a faculty member in the Department of Food, Human Nutrition, and Hospitality Management at the University of Arkansas-Fayetteville. He has developed and taught many courses in the field of hospitality management including Food, Beverage, and Labor Cost Management; Front Office Revenue Management; Meetings, Events and Conventions Management; and Hospitality Operations and Financial Analysis. Dr. Ogbeide received his M.S. and Ph.D. degrees with emphasis in Hospitality Management and Leadership Development from the University of Missouri-Columbia. He also has an M.B.A. and more than 25 years of experience in the hospitality industry. Dr. Ogbeide is a winner of many awards including several "innovation awards."

The Analytic Hospitality Executive

The Analytic Hospitality Executive Book
Author : Kelly A. McGuire
Publisher : John Wiley & Sons
Release : 2016-08-22
ISBN : 1119224934
Language : En, Es, Fr & De

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Book Description :

Targeted analytics to address the unique opportunities in hospitality and gaming The Analytic Hospitality Executive helps decision makers understand big data and how it can drive value in the industry. Written by a leading business analytics expert who specializes in hospitality and travel, this book draws a direct link between big data and hospitality, and shows you how to incorporate analytics into your strategic management initiative. You'll learn which data types are critical, how to identify productive data sources, and how to integrate analytics into multiple business processes to create an overall analytic culture that turns information into insight. The discussion includes the tools and tips that help make it happen, and points you toward the specific places in your business that could benefit from advanced analytics. The hospitality and gaming industry has unique needs and opportunities, and this book's targeted guidance provides a roadmap to big data benefits. Like most industries, the hospitality and gaming industry is experiencing a rapid increase in data volume, variety, and velocity. This book shows you how to corral this growing current, and channel it into productive avenues that drive better business. Understand big data and analytics Incorporate analytics into existing business processes Identify the most valuable data sources Create a strategic analytic culture that drives value Although the industry is just beginning to recognize the value of big data, it's important to get up to speed quickly or risk losing out on benefits that could drive business to greater heights. The Analytic Hospitality Executive provides a targeted game plan from an expert on the inside, so you can start making your data work for you.

Revenue Management

Revenue Management Book
Author : I. Yeoman,U. McMahon-Beattie
Publisher : Springer
Release : 2010-12-08
ISBN : 0230294774
Language : En, Es, Fr & De

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Book Description :

Pricing is about deciding your market position whereas revenue management is the strategic and tactical decisions firms take in order to optimize revenues and profits. This book offers insights into research, theories, applications and innovations and how to makes these work in different industries.

Hotel Pricing in a Social World

Hotel Pricing in a Social World Book
Author : Kelly A. McGuire
Publisher : John Wiley & Sons
Release : 2015-10-26
ISBN : 1119129966
Language : En, Es, Fr & De

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Book Description :

Take control of revenue management in the new hotel economy Hotel Pricing in a Social World: How to Drive Value in the New Hotel Economy is an insightful resource that provides guidance on improving organizational decision making to keep your hotel relevant, from a pricing standpoint, in the often chaotic hotel landscape. This groundbreaking book clearly showcases the current environment of the hotel industry, and describes new and emerging trends that can impact your revenue management tactics. This essential text prepares you to survive and thrive in today's highly competitive market, and outlines the best approach to building profitable pricing strategies that follow both tactical and strategic best practices. Revenue management has become a key activity in the highly social environment of today's hotel industry, thanks to mobile technology and social media. Though relatively new, revenue management is a quickly-evolving discipline that requires precision if you want to maintain your hotel's relevance in the market. Leverage original research, case studies, and industry examples to understand the practical application of key concepts Explore current market conditions that have an impact on revenue management Consider how advances in data management, analytics, and data visualization can impact revenue management practices Identify how revenue management can help you take advantage of market opportunities and overcome challenges Hotel Pricing in a Social World: How to Drive Value in the New Hotel Economy is an essential text for hotel CFOs, CMOs, revenue managers, and operations managers who want to leverage revenue management techniques to keep their hotel competitive.

Operations Management in the Hospitality Industry

Operations Management in the Hospitality Industry Book
Author : Peter Szende,Alec N. Dalton,Michelle (Myongjee) Yoo
Publisher : Emerald Group Publishing
Release : 2021-06-10
ISBN : 1838675418
Language : En, Es, Fr & De

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Book Description :

From restaurants to resorts, the hospitality industry demands strong operations management to delight guests, develop employees, and deliver financial returns. This introductory textbook provides students with fundamental techniques and tools to analyse and improve operational capabilities of any hospitality organization.

Yield Management

Yield Management Book
Author : Anthony Ingold,Ian Yeoman,Una McMahon-Beattie
Publisher : Cengage Learning Emea
Release : 2000
ISBN : 9780826448255
Language : En, Es, Fr & De

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Book Description :

Defines and analyzes the concept of yield and revenue management with special reference to the airline and hotel industries.

Accounting and Financial Analysis in the Hospitality Industry

Accounting and Financial Analysis in the Hospitality Industry Book
Author : Jonathan Hales
Publisher : Routledge
Release : 2006-08-11
ISBN : 1136431616
Language : En, Es, Fr & De

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Book Description :

The objective of this textbook is to teach students to be conversational in speaking “numbers.” This means understanding fundamental accounting concepts, developing solid financial analysis abilities, and then applying them to understand and improve the operational performance of their hotel or restaurant. The book will accomplish this by studying the current practices of some of today’s leading hotel and restaurant companies. Chapters will be developed under the auspices of a select group of hospitality industry General Mangers, Directors of Finance, and Regional Accounting Managers to ensure that the information is current, accurate and useful. Understanding and applying the information will be the main focus of this book. This textbook should provide hospitality managers the knowledge and experience to be comfortable in using numbers to operate their departments. This includes developing the ability to perform all accounting and financial aspects of their position efficiently and correctly including revenue forecasting, wage scheduling, budgeting, P&L critiques, purchasing procedures and cost control methods. As a result, they will have more time to spend on the floor with their customers and employees. This knowledge will help them understand their operations and how to improve, change or expand them to increase revenues or profits.