This book explores total revenue management (TRM), an emerging concept in revenue management that incorporates existing principles and tools of revenue management across all profit streams. It is a professional's guide to using TRM in an optimal and innovative manner to gain competitive advantage. Readers will gain comprehensive insights into the strategies, tools and principles of TRM including existing and emerging revenue streams across the value chain. The author offers a transparent and holistic explanation of pricing strategies, segmentation methods and distribution principles which enable implementation of TRM in organizations.

This new textbook, Hospitality Revenue Management: Concepts and Practices, provides a comprehensive, in-depth introduction to the basic concepts and best practices of hospitality revenue management. With a real-world, hands-on approach, the book places students in the role of a revenue manager striving to succeed in an ever-changing hospitality business environment. The book takes a unique multi-author, collaborative approach, with chapters from outstanding industry leaders who share their experience and provide the information necessary to arm students with the most up-to-date tools and methods they to be effective in the hospitality revenue management field. The chapters cover the important topics in hospitality revenue management, including hotel pricing, hotel segmentation, distribution channels, competitive analysis, hotel forecasting, performance analysis, market data, supply and demand management, and more.

The future of upscale and luxury hotels is total revenues. No longer simply a matter of driving occupancy, properties in these categories must find ways to encourage guests of all segments to spend across a variety of ancillary revenue streams such as dining, wellness, golf and activities. For the brand and owner’s side, this optimizes profitability, while for the guest this augments the experience to maximize satisfaction – a true win-win. Broken down by sections corresponding to each major hotel operation, this book gives hoteliers the tools and inspiration to execute a total revenue-focused commercialization strategy.

The increasing interconnection and the unlimited exchange of data and information has led to a maximized transparency of globally offered and sold products and services. The desires, needs and wants of the consumer are the critical issues today in creating new or offering existing products and services. This book outlines successful marketing and sales strategies with a clear focus on practical relevance. It provides a systematic overview and description of selling, pricing and negotiation concepts which enable the reader to apply the best-case scenario in their company. Tools such as the marketing mix or marketing strategies are well explained for practical application in industry. The book also integrates elements of change, lean and innovation management as drivers for performance excellence. Featuring industry case studies, this book is a practical guide for marketing professionals, academics and policy makers to enable enterprises to achieve long-term competitive advantages through best-in-class marketing, sales and pricing activities.

Fierce competition in many industries, megatrends, the COVID-19 pandemic, the ongoing globalisation and the permanent liberalisation of markets have changed the face of economies and businesses drastically. Companies must establish suitable and long-term strategies and performance criteria in order to survive in this dynamic and hostile environment. This book provides a holistic and practical approach to strategic performance management. It combines all functions of the value chain and contains best practices in performance. The author demonstrates how new paradigms enable companies to concentrate on value-adding activities and processes to achieve a long-term sustainable and competitive advantage. The book contains a variety of best practices, industry examples and case studies. Focusing on best-in-class examples, the book offers the ideal guide for any enterprise to achieve a competitive advantage across all business functions focusing on value-adding activities.

REVENUE MANAGEMENT FOR THE HOSPITALITY INDUSTRY Explore intermediate and advanced topics in the field of revenue management with this up-to-date guide In the newly revised second edition of Revenue Management for the Hospitality Industry, an accomplished team of industry professionals delivers a comprehensive and insightful review of hospitality pricing and revenue optimization strategies. The book offers realistic industry examples from hotels, restaurants, and other hospitality industry segments that use differential pricing as a major revenue management tool. The authors discuss concepts critical to the achievement of hospitality professionals’ revenue management goals and include new examinations of the growing importance of effective data collection and management. A running case study helps students learn how to incorporate the revenue management principles and strategies included in the book’s 14 chapters. Written for students with some prior knowledge and understanding of the hospitality industry, the new edition also includes: A brand-new chapter on data analysis and revenue management that addresses many of the most important data and technology-related developments in the field, including the management of big data, data safety, and data security In-depth discussions of revenue management topics including Net Revenue Per Available Room, Direct Revenue Ratio, and other KPIs Major changes to the book’s instructor support materials and an expansion of the instructor’s test bank items and student exercises. An indispensable resource for students taking courses in hospitality management or business administration, Revenue Management for the Hospitality Industry, Second Edition is also ideal for managers and executives in the hospitality industry.

Worldwide, tourism is the third largest economic activity in direct earnings after petroleum and automobile industries, and by far the largest one if indirect earnings are also taken into consideration. Taking into account the profound economic impact the tourism and hospitality industries can have on regions and cities around the world, further research in this area is critical. Global Dynamics in Travel, Tourism, and Hospitality takes a holistic approach to tourism and hospitality operations, education, and research. Highlighting the latest research in the field, real-world examples of how these industries are shaping economic development as well as future outlooks and opportunities for growth, this publication is an essential reference source for researchers, professionals, and graduate-level students.