Hotel Revenue Management – A Critical Literature Review
35 Pages Posted: 4 Jan 2012
Date Written: December 28, 2011
The paper presents a critical literature review of the main concepts of hotel revenue management (RM) and current state of theoretical research. It emphasizes on the different directions of hotel RM research and focuses comprehensively on the elements of the hotel RM system and the stages of RM process. Special attention is paid to the different hotel RM centres, pricing and non-pricing RM tools, forecasting methods, the RM software, RM team and ethical considerations as they play a central role in the RM practice. Finally, the article outlines future research perspectives and discloses potential evolution of RM in future.
Keywords: hotels, revenue management, yield management, overbooking, pricing, ethics
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