Ten myths of revenue management – A practitioner's view

Cleophas, Catherine; Frank, Michael

doi:10.1057/rpm.2010.40

Cited by 11 publications

(2 citation statements)

References 15 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Schwartz and Cohen (2004) proposed that using technology is unlikely to eliminate the role of the human factor in RM. While Cleophas and Frank (2011) noted that sophisticated and automated systems can contribute to the success of RM, they advocated that dedicated software systems are not a prerequisite for applying RM. This is also confirmed in a recent study by Abad et al (2019).…”

Section: Literature Reviewmentioning

confidence: 99%

Digital transformation and revenue management: Evidence from the hotel industry

2020

View full text Add to dashboard Cite

To maximize their revenues and protect their market share against traditional competitors (e.g. formal lodging businesses) and disruptive business models (e.g. Airbnb), the lodging industry increasingly relies on technology in various operations. However, the extent to which hotels adopt technology innovation in their revenue management (RM) operations, as well as the benefits of and barriers for digitalization, remains unclear. Moreover, the possible impacts of digital transformation on the future of revenue managers’ professions have been largely overlooked in previous studies. Drawing on qualitative data collected through 23 semistructured interviews with revenue managers in luxury and upscale hotels across Jordan, the findings suggest that RM is going through digital transformation with different levels of sophistication. While acknowledging the benefits of digital transformation in saving time, supporting the decision-making process, and yielding more revenues, the high cost of RM software emerges as a key barrier for digital transformation. The findings also reveal that the automation of various manual heuristics in RM is far from being possible, and therefore, digital transformation is unlikely to pose a threat to the future of the RM profession.

show abstract

Section: Literature Reviewmentioning

confidence: 99%

Digital transformation and revenue management: Evidence from the hotel industry

2020

View full text Add to dashboard Cite

show abstract

“…Today, RM is applied in airlines, hotels, restaurants, golf courses, shopping malls, telephone operations, conference centers and other service companies that trade perishable goods (Ivanov and Zhechev, 2012). While not essential, most RM approaches used in hotels rely on data-hungry demand forecasting systems and optimization methods requiring use of information processing technology (Cleophas and Frank, 2011). However, they also require input of business intelligence from hotel staff in the areas of sales and marketing, finance and operations.…”

Section: Introductionmentioning

confidence: 99%

Knowledge sharing in revenue management teams: Antecedents and consequences of group cohesion

Aubke

Wöber

Scott

et al. 2014

International Journal of Hospitality Management

View full text Add to dashboard Cite

The practice of Revenue Management has received widespread acceptance in the international hospitality industry yet a lack of best practice in terms of organizational integration persists. This paper follows the notion that revenue management is first and foremost a human activity, dependent on knowledge exchange and concerted decision within revenue management teams. One critical attribute of effective teams is group cohesion. The authors contrasted communication networks of 38 revenue management teams by means of social network analysis to identify the antecedents and consequences of group cohesion. It was found that industry employment, age and revenue management experience define the structure of communication networks and that awareness of other's expertise is central in explaining differences team performance across the sample. The findings highlight the issue of knowledge asymmetry in teams and suggest that the Revenue Manager occupies a more active role as an information broker in order to enhance group decision making.

show abstract

Pricing bei Dienstleistungen und Yield Management

Michel

Zellweger

2014

Revenue Management Aus Der Kundenperspektive

View full text Add to dashboard Cite

Ten myths of revenue management – A practitioner's view

Cited by 11 publications

References 15 publications

Digital transformation and revenue management: Evidence from the hotel industry

Digital transformation and revenue management: Evidence from the hotel industry

Knowledge sharing in revenue management teams: Antecedents and consequences of group cohesion

Pricing bei Dienstleistungen und Yield Management

Contact Info

Product

Resources

About