Hotel Revenue Management Techniques and Successful Applications in the Greek Resort Hotels Sector
Maria Douvrou ()
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Maria Douvrou: Cielotel
A chapter in Strategic Innovative Marketing and Tourism, 2019, pp 927-934 from Springer
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)
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-030-12453-3_107
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