Search results for "REVENUE MANAGEMENT"
showing 10 items of 11 documents
Le virtù "cardinali" del "revenue manager". Spunti di riflessione sulla misurazione della performance aziendale
2010
The article considers the role of managerial virtues for a revenue manager, by starting from the definition and the role of the revenue management in the hotel sector.
INTO THE HOTEL REVENUE MANAGEMENT. “History & Forecast”
2010
During uncertain times a deeper attention on strategies is highly recommended in order to minimize the loss and maintain, or gain in certain cases, market share (Vergara C., 2004). In this direction, hotels are asked to invest more in Revenue Management intelligence, not only toward the actual practices based on Room Revenue, but also taking into consideration the other incoming departments and in particular Food & Beverage. This article aims to clearing up the current state of the Revenue Management theory and practice, starting from its origin, crossing the five pillars, or the current policies and ending with a brief hint on the future of the entire hotel industry, which here we may call…
La segmentazione della domanda e dell’offerta nell’industria dell’ospitalità
2010
No two customers are identical, even whereas they belong to the same marketing program or they choose the same product or service (Withiam G., 2000). Revenues, costs and therefore profitability differ because of the different effort required to meet the specific need of the specific consumer or group of customers. When competing, firms target information towards specific segments through direct marketing initiatives and actions (Cross R.G., 1997). This finding underlines the importance of knowing in advance customer’s characteristics, even before thinking at the service to provide, and aims to illustrate how the lodging industry normally segments its customers, and which group of customers …
An integrated fuzzy-stochastic model for revenue management: The hospitality industry case
2016
Revenue management aims at improving the performance of an organization by selling the right product/service to the right customer at the right time. This task is very dependent on uncontrollable external factors. In the hospitality industry, rooms of the hotel represent perishable assets and fixed capacities at the same time. Therefore, in the case of a stochastic process for customers calling in reservations prior to a particular booking date, a common problem for hotels is to devise a policy for maximizing the total expected profit conditional on the set of bookings. We propose a fuzzy model for the hotel revenue management under an uncertain and vague environment. Fuzziness of objectiv…
Sharing economy and dynamic pricing: Is the impact of Airbnb on the hotel industry time-dependent?
2021
Abstract Prior literature has reported significant price and revenue reductions in the hotel industry due to the emergence of Airbnb. Other studies have documented that hotels' price reactions to the penetration of Airbnb depend on their service level, e.g., low/medium-end versus high end. Relying on a large sample from the Italian market, we contribute by showing that the effect of Airbnb on hotels' price decisions does not only depend on incumbents’ quality level, but also on the difference between booking and check-in time. That is, the effect of the penetration of Airbnb on hotels' dynamic price decisions varies over time depending on the core segment hotels target.
Il total revenue management. Il food & beverage management del Royal Continental Hotel, Napoli.
2012
La ridefinizione del sistema di prodotto a supporto della redditività dei beni/servizi periferici al core business: spunti di riflessione dal managem…
2012
Advance booking across channels: The effects on dynamic pricing
2021
This research analyzes the effects of advance booking and channel type on hotel rates. While this relationship has been addressed in the literature, most studies take a partial approach by focusing only on one distribution channel or one destination. This study fills this gap by analyzing the price dynamics for four channels and multiple destinations. The data set consists of 39,363 bookings for 1085 hotels over 27 consecutive months. We used two-stage least squares to solve potential endogeneity issues, and the results proved that distribution channel, hotel type and hotel size have an influence on the effect of advance booking on hotel rates. Critical managerial implications are discussed…
Adaptive Stochastic Airline Seat Inventory Control under Parametric Uncertainty
2013
Airline seat inventory control is a very profitable tool in the airline industry. The problem of adaptive stochastic airline seat inventory control lies at the heart of airline revenue management. This problem concerns the allocation of the finite seat inventory to the stochastic customer demand that occurs over time before the flight is scheduled to depart. The objective is to find the right combination of customers of various fare classes on the flight such that revenue is maximized. In this paper, the static and dynamic policies of stochastic airline seat inventory control (airline booking) are developed under parametric uncertainty of underlying models, which are not necessarily alterna…
Pricing method as a tool for improved price perception
2006
In the present paper, we have explored pricing methods applied to charging mobile service customers, and the influences of the charging methods on the customers’ price perceptions. The analyses are based on the empirical data collected from Finnish mobile service markets through a quantitative postal survey in 2003. Four hypotheses were tested separately in two customer segments for examining relationship of pricing methods and price perceptions, and the factors affecting to the customers’ pricing method choices. The statistical analyses provided results suggesting that charging methods have a significant effect on customers’ price perceptions. The customers’ price perceptions were found to…