What is revenue management and to what extent is it adopted in tourism industry?

April 10, 2023April 10, 2023 Discipline: Business and Management

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Topic: What is Revenue Management and to what extent is it adopted in Tourism Industry?
Research Questions: What is revenue management, how well is it applied today by hoteliers and how effective is it?
Suggested Methodology:
That assignment aims to provide an overview of what is Revenue Management and to evaluate the application of various Revenue Management practices. To do so, the paper is going to be divided to four parts.
 The first part will provide an overview of what is Revenue Management through literature sources.
The second is going to present, discuss and compare four recent relevant researches (Application of Revenue Management Practices in Star-Rated Hotels In Kenya, The research-practice gap in hotel revenue management: Insights from Italy , Investigation of the revenue management practices of accommodation establishments in Turkey: An exploratory study , An empirical analysis of the effectiveness of hotel Revenue Management in five-star hotels in Barcelona, Spain)
The third part will present Revenue Management challenges and obstacles.
The fourth and final part of the assignment is going to provide a clear answer to the research questions and Conclusions.
 Recommended Bibliography:
Klein, R., Koch, S., Steinhardt, C., & Strauss, A. K. (2019). A review of Revenue Management: Recent generalizations and advances in industry applications. European Journal of Operational Research, 284(2), 397–412. https://doi.org/10.1016/j.ejor.2019.06.034
Peco-Torres, F., Polo-Peña, A. I., & Frías-Jamilena, D. M. (2021). Revenue management and CRM via online media: The effect of their simultaneous implementation on hospitality firm performance. Journal of Hospitality and Tourism Management, 47, 46–57. https://doi.org/10.1016/j.jhtm.2021.02.004
Matsuoka, K. (2022). Effects of revenue management on perceived value, customer satisfaction, and customer loyalty. Journal of Business Research, 148, 131–148. https://doi.org/10.1016/j.jbusres.2022.04.052
Muremi, M., & Wadongo, B. (2021). Application of revenue management practices in star-rated hotels in Kenya. April 2021, (Volume 10(2), 559–574. https://doi.org/10.46222/ajhtl.19770720-118
Ivanov, S., Del Chiappa, G., & Heyes, A. (2021). The research-practice gap in hotel revenue management: Insights from Italy. International Journal of Hospitality Management, 95, 102924. https://doi.org/10.1016/j.ijhm.2021.102924
Ivanov, S., & Ayas, Ç. (2017). Investigation of the revenue management practices of accommodation establishments in Turkey: An exploratory study. Tourism Management Perspectives, 22, 137–149. https://doi.org/10.1016/j.tmp.2017.03.007
Rodríguez-Algeciras, A., & Talón-Ballestero, P. (2017). An empirical analysis of the effectiveness of hotel revenue management in five-star hotels in Barcelona, Spain. Journal of Hospitality and Tourism Management, 32, 24–34. https://doi.org/10.1016/j.jhtm.2017.04.004

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