hotel revenue management

Stanislav Ivanov

HOTEL REVENUE MANAGEMENT
FROM THEORY TO PRACTICE

Stanislav Ivanov

HOTEL REVENUE MANAGEMENT
FROM THEORY TO PRACTICE

student
2014
Stanislav Ivanov (2014). Hotel Revenue Management: From Theory to Practice. Varna: Zangador.

Page 1 of 204

First published 2014 by Zangador Ltd.
Varna, Bulgaria; tel: [phone]; email: [e-mail]

This work is licensed under the Creative Commons AttributionNonCommercial-NoDerivatives 4.0 International License. To view a copy of this license, visit http://creativecommons.org/licenses/by-nc-nd/4.0/.

ISBN: 978-954-92786-3-7
Reference:
Ivanov, Stanislav (2014). Hotel Revenue Management: From Theory to Practice. Varna: Zangador

Stanislav Ivanov (2014). Hotel Revenue Management: From Theory to Practice. Varna: Zangador.

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To Maya and Hristo

Stanislav Ivanov (2014). Hotel Revenue Management: From Theory to Practice. Varna: Zangador.

Page 3 of 204

PREFACE
This research monograph aims at developing an integrative framework of hotel revenue management. It elaborates the fundamental theoretical concepts in the field of hotel revenue management like the revenue management system, process, metrics, analysis, forecasting, segmentation and profiling, and ethical issues. Special attention is paid on the pricing and non-pricing revenue management tools used by hoteliers to maximise their revenues and gross operating profit. The monograph investigates the revenue management practices of accommodation establishments in Bulgaria and provides recommendations for their improvement. The book is suitable for undergraduate and graduate students in tourism, hospitality, hotel management, services studies

programmes,

and

researchers

interested

in

revenue/yield

management. The book may also be used by hotel general managers, marketing managers, revenue managers and other practitioners looking for ways to improve their knowledge in the field.

Stanislav Ivanov (2014). Hotel Revenue Management: From

References: Stanislav Ivanov (2014). Hotel Revenue Management: From Theory to Practice. Varna: Zangador. in a way that maximizes a particular firm s revenues El Haddad, Roper & Jones, 2008) management practice into the realm of marketing management where it plays a key role in demand creation (Cross, Higbie & Cross, 2009) and managing consumer behaviour (Anderson & Xie, 2010). Revenue management theory has also benefited strongly not only from marketing management research, but more profoundly from operations (e.g. Talluri & van Ryzin, 2005) and pricing research (Shy, 2008). companies. This has triggered significant theoretical research in revenue management fundamentals and its application in various industries (Chiang, Chen & Xu, 2007; Cross, 1997; Ng, 2009a; Phillips, 2005; Talluri & van Ryzin, 2005), including tourism and hospitality (Avinal, 2006; Hayes & Miller, 2011; Ingold, McMahon-Beattie & Yeoman, 2001; Ivanov & Zhechev, 2012; Kimes, 2003; Lee-Ross & Johns, 1997; Legoherel, Poutier & Fyall, 2013a; Mauri, 2012; Tranter, Stuart-Hill & Parker, 2008; Yeoman & McMahon-Beattie, 2004, 2011). Moreover, the importance of revenue management as a research field has been recognised by the launch of two academic Stanislav Ivanov (2014). Hotel Revenue Management: From Theory to Practice. Varna: Zangador. Building on Kimes (1989) and Kimes & Wirtz (2003) we could define hotel revenue management as the constellation of tools and actions dedicated toward the achievement of an