IDEAS home Printed from https://ideas.repec.org/a/nos/lkhaof/3.html
   My bibliography  Save this article

Selection of the optimal set of revenue management tools in hotels

Author

Listed:
  • Korzh Nataliia

    (Vinnytsia Institute of Trade and Economics of the Kyiv National University of Trade and Economics)

  • Onyshchuk Natalia

    (Vinnytsia Institute of Trade and Economics of the Kyiv National University of Trade and Economics)

Abstract

The object of research is the scientific category «revenue management» and its tools, which, with the growth of the number of on-line sales channels of hotel services, become decisive in the struggle for survival. The existence of a large number of profit management tools associated with the online booking regime work as a SmallDat and gives quite scattered information about the state of the market. One of the most problematic areas is the formation of perspective analytics using existing tools. In the course of the research methods of analysis, generalization and comparison of existing analytical software on the market were used, influencing the decision on the tactical actions of the hotel in the markets. The author's interpretation of the scientific category «revenue management» is obtained as an auxiliary method of maximizing profits from a fixed perishable resource based on understanding, forecasting and strategic influence on consumer behavior. The proposed definition has a number of features, in particular, the emphasis is not on revenue growth, but on profits that can be obtained as a result of the implementation of specific strategic actions. The advantages and disadvantages of the analytical tools common in the country are analyzed: Rate Shopper; OTA; BI and RMS. It is proved that no tool provides perspective analysis and therefore it is necessary to use several tools. Since this is an economic issue, the hotel must have an optimal set of such tools for the development of strategic decisions. A model is proposed for making managerial decisions to optimize a set of analytical tools, which demonstrates the progress of the decision-making process for working with the instrument. According to the model, each hotel can choose at its discretion a set of analytical tools and check their relevance in the operational cycle of the hotel and informative for development of strategic decisions.

Suggested Citation

  • Korzh Nataliia & Onyshchuk Natalia, 2018. "Selection of the optimal set of revenue management tools in hotels," Technology audit and production reserves, 1(39) 2018, Socionet;Technology audit and production reserves, vol. 1(4(39)), pages 16-21.
  • Handle: RePEc:nos:lkhaof:3
    as

    Download full text from publisher

    File URL: http://journals.uran.ua/tarp/article/view/124414
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    revenue management; revenue optimization; analytical tools; income from the guest; income from the number; sales channels;
    All these keywords.

    JEL classification:

    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nos:lkhaof:3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Алина Макаренко (email available below). General contact details of provider: http://socionet.ru/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.