Hotel Revenue Management Techniques and Successful Applications in the Greek Resort Hotels Sector

Maria Douvrou ()
Additional contact information
Maria Douvrou: Cielotel

A chapter in Strategic Innovative Marketing and Tourism, 2019, pp 927-934 from Springer

Abstract: Abstract Revenue management is a complex mechanism of commercial decision making that is used to increase a company’s profit by matching supply and demand. This is achieved by utilizing a set of pricing and non-pricing strategies to allocate the right product to the right customer at the right price at the right time. Revenue management requires the application of analytics that predicts consumer behaviour at the micro-market level to optimise product availability and price to maximise revenue growth. In this paper we will distinguish between pricing and non-pricing related tools and present a number of revenue management techniques such as: allotment distribution, roomtype variations and rates, yield management and overbooking. We will then take an empirical approach and present a few real-life cases from resort hotels on Greek islands that applied these techniques and achieved a substantial revenue increase year-on-year over and above the annual market increase, for summer seasons 2017–2018. The selection of these hotels was made as they were appropriate examples to showcase how the various revenue management tools can be combined.

Keywords: Hotel revenue; Revenue management; Yield management; Overbooking (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:spr:prbchp:978-3-030-12453-3_107

Ordering information: This item can be ordered from
http://www.springer.com/9783030124533

DOI: 10.1007/978-3-030-12453-3_107

Access Statistics for this chapter

More chapters in Springer Proceedings in Business and Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().