Developing the dimensions of activities important to successful revenue management performance: an application of the lodging industry

Jeffrey Beck, Bonnie Knutson, SeungHyun Kim and JaeMin Cha

International Journal of Revenue Management, 2010, vol. 4, issue 3/4, 268-283

Abstract: The increased use of revenue management (RM) has generated the need for trained, skilled individuals who can execute the RM system. The primary objective of this study was to identify and validate the underlying dimensions of activities important to successful RM performance. The data (N = 197) collected from an online survey was analysed using both exploratory and confirmatory factor analyses. These scale-development procedures resulted in a 22-item scale consisting of six factors: communicating effectively, managing daily activities, leading the revenue team, analysing trends, professionalising the RM profession and developing effective RM strategies. The results of this study suggest that developing effective RM strategies and analysing trends are the most important factors to a revenue manager's success. The implications of the study as well as directions for future research are discussed in this paper.

Keywords: lodging industry; revenue managers; training; scale development; exploratory factor analysis; confirmatory factor analysis; leadership; strategic marketing; management performance; communication; daily activities; routines; trends; professions; professionals; USA; United States; Hyatt Hotels; Marriott Lodging; Hilton Hotels; lodges; revenue management; hospitality management. (search for similar items in EconPapers)
Date: 2010
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