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Full Description
Addressing an emerging course in hospitality management, this one-of-a-kind book outlines the basic elements of the revenue management process and the keys to effective revenue management planning. Using the Rev MAP model as a guiding framework, it shows how to develop, implement, and evaluate a strategic management process. Professional profiles highlight key issues and career paths, while application chapters relate material to each segment of the hospitality industry. A final chapter looks at trends and forecasts the future evolution of this important new field.
Contents
Table of Contents 1. An Introduction2. A History3. Customers' Knowledge and Consumer Behavior4. Market Segmentation and Selection5. Internal Assessment and Competitive Analysis6. Economic Principles and Demand Forecasting7. Reservations and Channels of Distribution8. Dynamic Value-Based Pricing9. Channel and Inventory Management10. The Revenue Management Team11. Strategic Management and Following the RevMAP12. Tools, Tactics, and Resources13. Legal and Ethical Issues and Potential Bumps in the Road14. Crystal Ball15. Applications in Lodging and Food and Beverage16. Applications in Sports, Entertainment, and Event Management17. Applications in Cruise, Spa, and Luxury RV Resorts18. Applications in Golf, Gaming, and Theme ParksGLOSSARY