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- W135702486 abstract "This chapter discusses the point that revenue management is about a hotel's ability to segment its consumers, price and control room inventory differently across the segments-in essence practice some form of price discrimination. Selling the right room to the right customers at the right time requires a revenue manager to forecast demand by market segment, understand the price sensitivity of these segments and then adjust prices and control access to rooms. For the most part, hotel prices are market driven and most hotels set rates relative to their competition. Hotels use a variety of fences or restrictions so that they can sell a certain number of rooms at a discounted price while also being able to sell the remaining rooms at different prices. Restrictions and rate fences can be effective at setting variable prices but are less effective at controlling availability. Revenue management can be applied to numerous revenue streams in hotel including function space, restaurants, spas, and golf courses." @default.
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- W135702486 date "2012-01-02" @default.
- W135702486 modified "2023-10-01" @default.
- W135702486 title "Revenue Management for Enhanced Profi tability: An Introduction for Hotel Owners and Asset Managers" @default.
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- W135702486 doi "https://doi.org/10.1002/9781119200901.ch14" @default.
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