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Revenue Management Strategies in the Hotel Industry during a Crisis

Author

Listed:
  • Georgiana-Florina ILIE (POPA)

    (Bucharest University of Economic Studies)

  • Lucian STANCIU-GORUN

    (Bucharest University of Economic Studies)

Abstract

Strongly hit by the pandemic crisis, the hotel industry needs a comeback. After a long period of pandemic, hoteliers are forced to identify new ways to reinvent their business. Many hotels were put up against the wall, taking into account the fact that a serious component of income were the restaurants that were often included in the accommodation package, there was practically the meal supplement. As the return of tourism is still being questioned, hotel representatives need to understand that people need safety and hygiene, which requires increased attention to gain confidence. One way to recover can be Revenue Management strategies adapted to crisis or post-crisis situations. In the following we propose four types of Revenue Management strategies in order to diminish the effects of the pandemic crisis.

Suggested Citation

  • Georgiana-Florina ILIE (POPA) & Lucian STANCIU-GORUN, 2022. "Revenue Management Strategies in the Hotel Industry during a Crisis," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 23(2), pages 256-263, May.
    • Handle: RePEc:rom:rmcimn:v:23:y:2022:i:2:p:256-263
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    References listed on IDEAS

    as
    1. Lucian STANCIU-GORUN, 2019. "A Mathematical Approach To Revenue Management," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 13(1), pages 675-683, November.
    2. Xuanming Su, 2007. "Intertemporal Pricing with Strategic Customer Behavior," Management Science, INFORMS, vol. 53(5), pages 726-741, May.
    3. Marco Alderighi & Marcella Nicolini & Claudio A. Piga, 2015. "Combined Effects of Capacity and Time on Fares: Insights from the Yield Management of a Low-Cost Airline," The Review of Economics and Statistics, MIT Press, vol. 97(4), pages 900-915, October.
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    More about this item

    Keywords

    Hotel Management; Revenue Management; Hospitality; Management strategies.;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • M52 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Compensation and Compensation Methods and Their Effects

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