{"product_id":"revenue-management-for-the-hospitality-industry-isbn-9780470393086","title":"Revenue Management for the Hospitality Industry","description":"\u003cb\u003e\u003ci\u003eRevenue Management for the Hospitality Industry\u003c\/i\u003e\u003c\/b\u003e is filled with practical examples and best practices on the topic of revenue management, a critical aspect of the industry. Through numerous revenue management examples from the hospitality industry and a running case example throughout the book, students will discover how they can incorporate revenue management principles and best practices. The core of revenue management of a hospitality organisation is to, as the authors explain, \"charge the right price, to the right customer, for the right product, through the right channel, at the right time.\" The book is intended for students with prior knowledge and understanding of the hospitality industry, and will explain what they need to know and how to be successful. \u003cp\u003ePreface vii\u003c\/p\u003e \u003cp\u003eAcknowledgments xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I : Revenue Management Principles 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1: Introduction to Revenue Management 2\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 3\u003c\/p\u003e \u003cp\u003eThe Purpose of Business 5\u003c\/p\u003e \u003cp\u003eThe Purpose of Revenue Management 11\u003c\/p\u003e \u003cp\u003eThe Purpose and Design of This Book 12\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2: Strategic Pricing 35\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Is a Price? 36\u003c\/p\u003e \u003cp\u003eThe Importance of Price in the 4 Ps of the Marketing Mix 45\u003c\/p\u003e \u003cp\u003eThe Role of Supply and Demand in Pricing 49\u003c\/p\u003e \u003cp\u003eThe Role of Costs in Pricing 53\u003c\/p\u003e \u003cp\u003eImplementing Strategic Pricing 61\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3: Value 68\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Role of Value in Pricing 69\u003c\/p\u003e \u003cp\u003eThe Relationship Between Quality and Price 75\u003c\/p\u003e \u003cp\u003eThe Relationship Between Service and Price 77\u003c\/p\u003e \u003cp\u003eThe Link Between Quality, Service, and Price 79\u003c\/p\u003e \u003cp\u003eThe Art and Science of Strategic Pricing 84\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4: Differential Pricing 91\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTen Principles of Managing Revenue 92\u003c\/p\u003e \u003cp\u003eDifferential Pricing 93\u003c\/p\u003e \u003cp\u003eLimits to Differential Pricing 99\u003c\/p\u003e \u003cp\u003eApplying Differential Pricing 103\u003c\/p\u003e \u003cp\u003eRevenue Management or Revenue Optimization? 121\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5: The Revenue Manager’s Role 129\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Revenue Manager in the Hospitality Industry 130\u003c\/p\u003e \u003cp\u003eLegal Aspects of Revenue Management 133\u003c\/p\u003e \u003cp\u003eEthical Aspects of Revenue Management 139\u003c\/p\u003e \u003cp\u003eThe Revenue Manager Position 147\u003c\/p\u003e \u003cp\u003eThe Revenue Management Team 156\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II : Revenue Management For Hoteliers 163\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6: Forecasting Demand 164\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Importance of Demand Forecasting 165\u003c\/p\u003e \u003cp\u003eHistorical Data 167\u003c\/p\u003e \u003cp\u003eCurrent Data 174\u003c\/p\u003e \u003cp\u003eFuture Data 185\u003c\/p\u003e \u003cp\u003eDemand Forecasts and Strategic Pricing 193\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7: Inventory and Price Management 208\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Marketing Mix Revisited 209\u003c\/p\u003e \u003cp\u003eInventory Management 209\u003c\/p\u003e \u003cp\u003eCharacterizing Rooms for Optimum Inventory Management 212\u003c\/p\u003e \u003cp\u003eDesigning Unique Room Codes 215\u003c\/p\u003e \u003cp\u003eClassifying Guests by Market Segment 216\u003c\/p\u003e \u003cp\u003eOverbooking as an Inventory Management Strategy 227\u003c\/p\u003e \u003cp\u003ePrice Management 233\u003c\/p\u003e \u003cp\u003eStay Restrictions 249\u003c\/p\u003e \u003cp\u003ePrinciples of Inventory and Price Management 251\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8: Distribution Channel Management 259\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eManaging Distribution Channels 260\u003c\/p\u003e \u003cp\u003eNonelectronic Distribution Channels 268\u003c\/p\u003e \u003cp\u003eElectronic Distribution Channels 278\u003c\/p\u003e \u003cp\u003ePrinciples of Distribution Channel Management 298\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9: Evaluation of Revenue Management Efforts in Lodging 306\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Lodging Revenue Paradox 307\u003c\/p\u003e \u003cp\u003eSTAR Reports 318\u003c\/p\u003e \u003cp\u003eCompetitive Set Analysis 325\u003c\/p\u003e \u003cp\u003eMarket Share Analysis 332\u003c\/p\u003e \u003cp\u003eAdditional Assessments 335\u003c\/p\u003e \u003cp\u003eCommon-Sense Revenue Optimization 340\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III: Revenue Management For Foodservice Operators 349\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10: Revenue Management for Food and Beverage Services 350\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTraditional Foodservice Pricing Methods 351\u003c\/p\u003e \u003cp\u003eThe Cost Against Cost-Based Foodservice Pricing 359\u003c\/p\u003e \u003cp\u003eApplying Differential Pricing in Foodservices 364\u003c\/p\u003e \u003cp\u003eFactors Affecting Value Perceptions in Foodservices 373\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11: Evaluation of Revenue Management Efforts in Food and Beverage Services 391\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFood and Beverage Revenue Analysis 392\u003c\/p\u003e \u003cp\u003eExamination of Revenue Sources 393\u003c\/p\u003e \u003cp\u003eMeasurement of Revenue Change 399\u003c\/p\u003e \u003cp\u003eEvaluation of Revenue-Generating Efficiency 409\u003c\/p\u003e \u003cp\u003eThe Revenue Evaluation Process in Foodservices 420\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart IV: Revenue Management In Action 429\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12: Specialized Applications of Revenue Management 430\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCharacteristics of Organizations Applying Revenue Management 431\u003c\/p\u003e \u003cp\u003eService Industries Applying Revenue Optimization Strategies 440\u003c\/p\u003e \u003cp\u003eSpecialized Revenue Management Duties 441\u003c\/p\u003e \u003cp\u003eRevenue Management and Destination Marketing 450\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13: Building Better Business 458\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKeys to Building Better Business 459\u003c\/p\u003e \u003cp\u003eBetter Business Issues in Moderate to Strong Markets 472\u003c\/p\u003e \u003cp\u003eBetter Business Issues in Weak or Distressed Markets 480\u003c\/p\u003e \u003cp\u003eIndex 503\u003c\/p\u003e  \u003cp\u003e\u003cstrong\u003eDavid K. Hayes\u003c\/strong\u003e has more than 30 years experience in hospitality management and education. He has taught at Texas Tech University and the University of Houston. His industry experience includes serving as the Managing Owner of a hotel and conference center and a professional writer and consultant. \u003c\/p\u003e\u003cp\u003e\u003cstrong\u003eAllisha Miller\u003c\/strong\u003e has worked in the hospitality industry in a number of different roles, most recently as director of sales and marketing of a hotel and conference center. Currently, she is a professional writer and simulation developer for hospitality industry clients.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989958836453,"sku":"NP9780470393086","price":83.5,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470393086.jpg?v=1761786030","url":"https:\/\/k12savings.com\/es\/products\/revenue-management-for-the-hospitality-industry-isbn-9780470393086","provider":"K12savings","version":"1.0","type":"link"}