Title :
A Study on Revenue Management of a Service Industry
Author :
Lee, May K. L. ; Yelin Fu ; Kin Keung Lai
Author_Institution :
Dept. of Manage. Sci., City Univ. of Hong Kong, Hong Kong, China
Abstract :
This article discusses the application of hotel revenue management based on the economic theories of price discrimination and expected marginal revenue. The study also examines the REVPAR (Revenue per Available Room) as a measureable indicator of hotel revenue management. In the current background of world economic crisis, this paper provides a new insight into hotel management in China regarding the pricing policy and room inventory control.
Keywords :
hotel industry; pricing; REVPAR; economic theories; expected marginal revenue; hotel revenue management; price discrimination; pricing policy; revenue per available room; room inventory control; service industry; world economic crisis; Decision making; Economics; Educational institutions; Industries; Inventory control; Pricing; Expected marginal revenue; Price discrimination; Revenue management;
Conference_Titel :
Business Intelligence and Financial Engineering (BIFE), 2013 Sixth International Conference on
Conference_Location :
Hangzhou
Print_ISBN :
978-1-4799-4778-2
DOI :
10.1109/BIFE.2013.121
