EconPapers    
Economics at your fingertips  
 

Revenue efficiency and its drivers in the cruise industry

Minh-Anh Thi Nguyen, Ming-Miin Yu and Taih-Cherng Lirn

Maritime Policy & Management, 2022, vol. 49, issue 7, 1010-1026

Abstract: The recent capacity expansion, the pressure to fully utilize capacity, and the increasingly intense competition among cruise companies have greatly challenged revenue management in the cruise industry. Despite the constant efforts to optimize all revenue streams, cruise companies have gained a limited understanding of their revenue efficiency and untapped revenue potential. Within this context, the present study adopts a two-stage data envelopment analysis (DEA) approach applied to the data set of 181 cruise ships in 2018 to examine revenue efficiency and its drivers in the cruise industry. The results reveal that the cruise ships generally have forgone a considerable amount of potential revenues, indicating a necessity for revisiting revenue strategies. Furthermore, the study sheds light on the connection between the cruise ship’s revenue efficiency and its features, cruise category, and exogenous events. Finally, some managerial implications for improving and maintaining revenue efficiency are provided.

Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/03088839.2021.1934583 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:marpmg:v:49:y:2022:i:7:p:1010-1026

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/TMPM20

DOI: 10.1080/03088839.2021.1934583

Access Statistics for this article

Maritime Policy & Management is currently edited by Dr Kevin Li and Heather Leggate McLaughlin

More articles in Maritime Policy & Management from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().

 
Page updated 2025-03-20
Handle: RePEc:taf:marpmg:v:49:y:2022:i:7:p:1010-1026