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Introduction to Hotel Revenue Management

In: Revenue Management in the Lodging Industry

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  • Ben Vinod

Abstract

This chapter discusses the origins of hotel reservations systems (CRSs), global distribution systems (GDSs), and revenue management in the lodging industry after the introduction of the concept by American Airlines in 1986. The roles of the hotel CRS, PMS, Internet, online direct and indirect channels, and connectivity are reviewed. The core components of revenue management such as hotel rates, hotel competitors, loyalty programs, role of social media, industry datasets, and the revenue management process are reviewed. Marketing strategies to enhance bookings are discussed. Entities and organizations that support the hotel industry and their roles are described. This chapter concludes with the value proposition of revenue management in lodging and reviews revenue management in adjacent verticals such as rail, rental car, cruise lines, and ferry lines.

Suggested Citation

  • Ben Vinod, 2022. "Introduction to Hotel Revenue Management," Management for Professionals, in: Revenue Management in the Lodging Industry, chapter 1, pages 1-50, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-031-14302-1_1
    DOI: 10.1007/978-3-031-14302-1_1
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