Future developments of revenue management - perspectives of revenue management practitioners.
MetadataShow full item record
The purpose of this study was to explore revenue management practitioners’ view on future developments of revenue management (RM) with a focus on the hotel industry. While revenue management continues to evolve, there is a significant interest from academics and practitioners to explore future developments as this area is still under researched. In the presence of continuous evolving revenue management, criticisms on hotel revenue management practices have divulged and further developments are to be expected. The authors investigated prevailing literature on hotel revenue management to investigate a link between current criticisms on revenue management and possible developments by gathering practitioners’ perspectives on identified critics and new developments. The objectives involved a review of prevailing literature on hotel RM to investigate a link between criticisms on RM and new developments and thus gathering practitioners’ perspectives on identified critics and possible developments. The authors conducted an interpretive research philosophy, using a qualitative data collection process through semi-structured interviews with industry experts. Moreover, to ensure qualified participants a purpose full sampling was conducted and included seven RM practitioners. The foundations of the interviews were retrieved through the literature identifying several pattern codes. Findings obtained from the interviews were linked and compared to previous research identifying whether the results offered new insights or if they were in agreement with previous studies. The findings revealed that revenue management should focus on managing revenue from all revenue generating departments in order to optimize profitability. Also, a more technologically advanced and analytically tool focusing on customer behaviour and preferences through a combination of CCRM and CRM is to be expected. Thus, this should build up long-term customer relationships by communicating pricing practices to customers. It is very important to ensure that pricing practices are communicated to customers through clear, transparent and consistent RM.
The following license files are associated with this item:
Showing items related by title, author, creator and subject.
Librarians and Research Data Management–A Literature Review: Commentary from a Senior Professional and a New Professional Librarian Brochu, Lauren; Burns, Jane (Routledge, 2018-08-29)In the changing landscape of libraries and the roles of librarians, the area of Research Data Management (RDM) is emerging with new opportunities and challenges. This literature review identifies the current levels of ...
Best practice HRM: benchmarking the resources required to drive employee participation and innovation in the workplace; a case study of a single company - the ESB Donnellan, Sinead (Galway-Mayo Institute of Technology, 2010)This study examines Human Resource Management practices in the electricity industry in Ireland. The focus is on one single company — Irelands biggest electricity provider; the ESB (electricity supply board). Two areas of ...
The development of a multi-agent design information management and support system Chira, Camelia (Galway-Mayo Institute of Technology, 2005)The research presented in this thesis was developed as part of a project called Intelligent Agent Based Collaborative Design Information Management and Support Tools (I-DIMS). The I-DIMS project was funded by the Irish ...