REVENUE MANAGEMENT FOR THE HOSPITALITY INDUSTRY Explore intermediate and advanced topics in the field of revenue management with this up-to-date guide In the newly revised second edition of Revenue Management for the Hospitality Industry, an accomplished team of industry professionals delivers a comprehensive and insightful review of hospitality pricing and revenue optimization strategies. The book offers realistic industry examples from hotels, restaurants, and other hospitality industry segments that use differential pricing as a major revenue management tool. The authors discuss concepts critical to the achievement of hospitality professionals’ revenue management goals and include new examinations of the growing importance of effective data collection and management. A running case study helps students learn how to incorporate the revenue management principles and strategies included in the book’s 14 chapters. Written for students with some prior knowledge and understanding of the hospitality industry, the new edition also includes: A brand-new chapter on data analysis and revenue management that addresses many of the most important data and technology-related developments in the field, including the management of big data, data safety, and data security In-depth discussions of revenue management topics including Net Revenue Per Available Room, Direct Revenue Ratio, and other KPIs Major changes to the book’s instructor support materials and an expansion of the instructor’s test bank items and student exercises. An indispensable resource for students taking courses in hospitality management or business administration, Revenue Management for the Hospitality Industry, Second Edition is also ideal for managers and executives in the hospitality industry.

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.

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.

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.

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!

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 is a sales technique based on the analysis of the different variables that affect the purchasing decision of a consumer. With effective management of revenue using Yield and Revenue Management you can maximize the sales of a hotel's rooms and its different services and you can make them as profitable as possible using the most adequate sales channel. This book is about the basis of Revenue Management, the best tools that need to be applied, it covers the importance of good online marketing and about how to manage your online reputation. It includes some practical cases and examples. If you want to understand Revenue Management in a concise way through real examples, this is the book for you!

In today's highly-competitive hospitality market, it is essential to have an understanding of sales and marketing. Hospitality Sales and Marketing goes beyond theory to focus on a customer-oriented and practical approach for effectively marketing hotels and restaurants. The book explores the "four Ps" (price, product, promotion, and place) as they relate to specific market segments, providing a customer-focused perspective. Illustrations and exhibits include industry examples (forms, checklists, advertisements, etc.) that are used by today's industry leaders to effectively market their properties.

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.