An introduction to revenue management for the hospitality industry : principles and practices for the real world

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. 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. Cover......Page 1 Table of Contents......Page 4 1. An Introduction......Page 6 2. A History......Page 18 3. Customer Knowledge and Consumer Behavior......Page 34 4. Market Segmentation and Selection......Page 50 5. Internal Assessment and Competitive Analysis......Page 70 6. Economic Principles and Demand Forecasting......Page 90 7. Reservations and Channels of Distribution......Page 112 8. Dynamic Value-Based Pricing......Page 130 9. Channel and Inventory Management......Page 158 10. The Revenue Management Team......Page 174 11. Strategic Management and Following the RevMAP......Page 200 12. Tools, Tactics, and Resources......Page 222 13. Legal and Ethical Issues and Potential Bumps in the Road......Page 246 Glossary of Terms......Page 260 B......Page 261 C......Page 262 E......Page 263 G......Page 264 I......Page 265 O......Page 266 P......Page 267 R......Page 268 S......Page 269 W......Page 270 Y......Page 271 C......Page 272 H......Page 273 O......Page 274 S......Page 275 Y......Page 276