Revenue Management for the Hospitality Industry

by Hayes, David K.; Hayes , Joshua D.; Hayes , Peggy A.

• ISBN13: 9781119790778
• ISBN10: 1119790778
• eBook ISBN(s): 9781119790723
• Additional ISBN(s): 9780470393086
• Edition: 2nd
• Format: Paperback
• Copyright: 2021-11-09
• Publisher: Wiley
• More Book Details

Summary

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.

Author Biography

David K. Hayes has over 35 years of experience in hospitality management and education.He is the former Vice President of the Educational Institute of the American Hotel & Lodging Association (AHLEI) and is the author of several textbooks and dozens of articles in the field of hospitality management.

Joshua D. Hayes has advanced degrees from Stanford and U.C. Davis and works as a data scientist in Silicon Valley specializing in applying advanced data management and analytics to drive business outcomes.

Peggy A. Hayes has served as a Project Manager at Panda Professionals Hospitality Management and Training (Panda Pros) for over 25 years. She is also Panda Pros’ Project Design and Copy Editor.

Table of Contents

Part I: Revenue Management Principles

Part I introduces readers to the foundations of revenue management and contains the following chapters:

1.            Introduction to Revenue Management

2.            Strategic Pricing

3.            Value

4.            Differential Pricing

5.            The Revenue Manager’s Role

Part II: Revenue Management for Hoteliers

Part II of the text addresses the principles and practices applied by revenue managers working in the lodging segment of the hospitality industry. It includes the following chapters.

6.            Forecasting Demand

7.            Inventory and Price Management

8.            Distribution Channel Management

9.            Data Analysis and Revenue Management

10.         Evaluation of Revenue Management Efforts in Lodging

Part III: Revenue Management for Foodservice Operators

Part III of the text addresses the principles and practices applied by revenue managers working in the food and beverage segment of the hospitality industry. It includes the following chapters.

11.         Revenue Management for Food and Beverage Services

12.         Evaluation of Revenue Management Efforts in Food and Beverage Services

Part IV: Revenue Management in Action

In the concluding section of the text readers will learn how they can apply what they have learned in a variety of professional settings and under varying economic conditions. The section consists of the following two chapters.

13.         Specialized Applications of Revenue Management in Hospitality-Related Organizations

14.         Building Better Business