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Revenue management in the hotel industry

Author: ZhouGuangPeng
Tutor: MengQingJie
School: Dongbei University of Finance
Course: Tourism Management
Keywords: Revenue Management Maximize revenue Pricing strategy Overbooking
CLC: F719.3
Type: Master's thesis
Year: 2002
Downloads: 475
Quote: 10
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Abstract


Revenue Management , also known as revenue management , originated in the U.S. airline industry in the late 1970s . Although only 20 years of history , the principle of revenue management quickly many of the world industry applications . The aviation industry as the industry of the earliest applications of revenue management , revenue management has become the first resort of its increased revenues and profits . During the slow introduction of yield management or improper application of the airline are mostly struggling or have gone bankrupt . A similar situation also appears in the hotel industry . One of the main characteristics of the hotel industry is unable to adjust the supply of the product in the short term . The production capacity of the fixed and seasonal demand characteristics , a hotel usually not all the rooms are sales to pay the full price of the guests or not guests . When the demand for rooms is low , the value of the rooms are not sold in that night disappeared ; When the demand for rooms is high , due to the fixed production capacity , the hotel is unable to meet all the needs of the potential benefits and lost . How to balance the contradiction between supply and demand has always been an important issue for the hotel industry . Urgent need to accurately estimate demand and rational allocation of resources has led to the emergence of revenue management . China's hotel industry revenue management in developed countries, revenue management theory has been widely used in the aviation industry and the hotel industry , but little is known about . This paper made ??a systematic collation of revenue management theory and research , as well as the introduction of income management theory made ??some preliminary discussion . The structure is divided into four chapters: The first chapter is an overview of revenue management , and the emergence and development of revenue management , revenue management, the definition of the applicable conditions hotel industry revenue management . Measure the part of the second chapter proceeds to discuss the concept of yield , the relationship between role; well with the room occupancy rate , average room rates . The third chapter introduces the strategies and methods of revenue management , including overbooking , the difference in pricing , forecasting, policy support content . Chapter introduction of some of the revenue management focuses on the significance of the introduction of income management steps and issues that need attention .

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CLC: > Economic > Trade and Economic > Domestic Trade and Economic > Services sector > Food and beverage industry
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