{"product_id":"hotel-pricing-in-a-social-world-isbn-9781119129967","title":"Hotel Pricing in a Social World","description":"\u003cb\u003eTake control of revenue management in the new hotel economy\u003c\/b\u003e \u003cp\u003e\u003ci\u003eHotel Pricing in a Social World: How to Drive Value in the New Hotel Economy\u003c\/i\u003e is an insightful resource that provides guidance on improving organizational decision making to keep your hotel relevant, from a pricing standpoint, in the often chaotic hotel landscape. This groundbreaking book clearly showcases the current environment of the hotel industry, and describes new and emerging trends that can impact your revenue management tactics. This essential text prepares you to survive and thrive in today's highly competitive market, and outlines the best approach to building profitable pricing strategies that follow both tactical and strategic best practices. \u003c\/p\u003e\u003cp\u003eRevenue management has become a key activity in the highly social environment of today's hotel industry, thanks to mobile technology and social media. Though relatively new, revenue management is a quickly-evolving discipline that requires precision if you want to maintain your hotel's relevance in the market. \u003c\/p\u003e\u003cul\u003e \u003cli\u003eLeverage original research, case studies, and industry examples to understand the practical application of key concepts\u003c\/li\u003e \u003cli\u003eExplore current market conditions that have an impact on revenue management\u003c\/li\u003e \u003cli\u003eConsider how advances in data management, analytics, and data visualization can impact revenue management practices\u003c\/li\u003e \u003cli\u003eIdentify how revenue management can help you take advantage of market opportunities and overcome challenges\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\u003ci\u003eHotel Pricing in a Social World: How to Drive Value in the New Hotel Economy\u003c\/i\u003e is an essential text for hotel CFOs, CMOs, revenue managers, and operations managers who want to leverage revenue management techniques to keep their hotel competitive. \u003c\/p\u003e\u003cp\u003eForeword xiii\u003c\/p\u003e \u003cp\u003eAcknowledgments xvii\u003c\/p\u003e \u003cp\u003eAbout the Author xxi\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One New Analytics for a New Environment: The Evolution of Hotel Revenue Management Analytics, Technology, and Data 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 The Social World Has Changed Revenue Management Forever 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Changing Marketplace 6\u003c\/p\u003e \u003cp\u003eThe Evolution of the Revenue Management Function 7\u003c\/p\u003e \u003cp\u003eWhat to Expect from This Book 10\u003c\/p\u003e \u003cp\u003eWhat’s in This Book 13\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Demystifying Price Optimization 17\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA History Lesson: Yield Management in the Airlines 20\u003c\/p\u003e \u003cp\u003eThen Things Changed . . . 22\u003c\/p\u003e \u003cp\u003ePrice Optimization 24\u003c\/p\u003e \u003cp\u003eWhat is Optimization? 27\u003c\/p\u003e \u003cp\u003eAnd the Money Came Rolling In . . . 36\u003c\/p\u003e \u003cp\u003eAdditional Reading 40\u003c\/p\u003e \u003cp\u003eRevenue Management Perspectives 41\u003c\/p\u003e \u003cp\u003eNotes 45\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Big Data, Big Analytics, and Revenue Management 47\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat is Big Data? 50\u003c\/p\u003e \u003cp\u003eWhere Big Data Meets Big Analytics for Revenue Management 61\u003c\/p\u003e \u003cp\u003eData Visualization and Big Data 63\u003c\/p\u003e \u003cp\u003eResponsible Use of Big Data 67\u003c\/p\u003e \u003cp\u003eConclusion 76\u003c\/p\u003e \u003cp\u003eAdditional Reading 77\u003c\/p\u003e \u003cp\u003eRevenue Management Perspectives: The Role of Big Data in Revenue Management Science 78\u003c\/p\u003e \u003cp\u003eNote 82\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two The Expanding Role of Revenue Management 83\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Hotel Pricing in a Social World: Price, UGC, and Buying Behavior 85\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePrice, Ratings, and Reviews: How Consumers Choose 87\u003c\/p\u003e \u003cp\u003eBusiness Travelers Loyalty and Demographics 101\u003c\/p\u003e \u003cp\u003eUser‐Generated Content and Lodging Performance 109\u003c\/p\u003e \u003cp\u003eConclusions from This Research 111\u003c\/p\u003e \u003cp\u003eReputation and Revenue Management Systems 113\u003c\/p\u003e \u003cp\u003eConclusion 119\u003c\/p\u003e \u003cp\u003eAdditional Reading 120\u003c\/p\u003e \u003cp\u003eRevenue Management Perspectives: A Case for TripAdvisor Rank 120\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Integrating Revenue Management and Marketing 127\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Vision for Integrated Marketing and\u003c\/p\u003e \u003cp\u003eRevenue Management 130\u003c\/p\u003e \u003cp\u003eLimitations of the Revenue Management Approach 134\u003c\/p\u003e \u003cp\u003eUnderstanding Marketing Data and Analytics 136\u003c\/p\u003e \u003cp\u003eIntegrating Revenue Management and Marketing Decisions 137\u003c\/p\u003e \u003cp\u003eAchieving the Vision 140\u003c\/p\u003e \u003cp\u003eA Word of Caution 143\u003c\/p\u003e \u003cp\u003eConclusion 145\u003c\/p\u003e \u003cp\u003eAdditional Reading 146\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Total Hotel Revenue Management 151\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRevenue Management Beyond Rooms: A Process 155\u003c\/p\u003e \u003cp\u003eGuest-Centric Revenue Management 169\u003c\/p\u003e \u003cp\u003eWhat is the Goal of Total Hotel Revenue Management? 172\u003c\/p\u003e \u003cp\u003ePutting It All Together 175\u003c\/p\u003e \u003cp\u003eConclusion 178\u003c\/p\u003e \u003cp\u003eAdditional Reading 181\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Three The Future of Revenue Management: Pricing as a Business Strategy 189\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Pricing as a Strategic Tool 191\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStrategy Considerations 194\u003c\/p\u003e \u003cp\u003ePricing to Support Business Strategies 203\u003c\/p\u003e \u003cp\u003eHow to Be More Strategic in Pricing 206\u003c\/p\u003e \u003cp\u003eBenefits of Strategic Pricing 209\u003c\/p\u003e \u003cp\u003eConclusion 214\u003c\/p\u003e \u003cp\u003eAdditional Reading 215\u003c\/p\u003e \u003cp\u003eRevenue Management Perspectives: ADR versus Market Share 215\u003c\/p\u003e \u003cp\u003eNotes 219\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 The Path to Personalization: Revenue Management’s Contribution to the New Guest Experience 221\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePersonalization, a Vision 224\u003c\/p\u003e \u003cp\u003eMoving Past Traditional Web Analytics to Digital Intelligence 229\u003c\/p\u003e \u003cp\u003eIntegrated Data for Digital Intelligence 231\u003c\/p\u003e \u003cp\u003eRevenue Management Supporting the Personalization Vision 233\u003c\/p\u003e \u003cp\u003eHow Do We Get Started? 239\u003c\/p\u003e \u003cp\u003eExamples of Starting on the Path to Personalization 242\u003c\/p\u003e \u003cp\u003eProfiling versus Tracking Behavior: A Cautionary Tale 245\u003c\/p\u003e \u003cp\u003eFinal Advice for Revenue Managers 246\u003c\/p\u003e \u003cp\u003eAdditional Reading 247\u003c\/p\u003e \u003cp\u003eRevenue Management Perspectives: Convergence of Digital Marketing and Revenue Management 247\u003c\/p\u003e \u003cp\u003eNotes 249\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 The Future of Revenue Management 251\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eProfile of a Revenue Manager 254\u003c\/p\u003e \u003cp\u003eRevenue Management Career Paths 261\u003c\/p\u003e \u003cp\u003eRevenue Management Organizations 264\u003c\/p\u003e \u003cp\u003eFinal Thoughts 277\u003c\/p\u003e \u003cp\u003eAdditional Reading 279\u003c\/p\u003e \u003cp\u003eRevenue Management Perspectives: A Case Study in Organizational Structure for Revenue Management 280\u003c\/p\u003e \u003cp\u003eNotes 282\u003c\/p\u003e \u003cp\u003eAppendix 283\u003c\/p\u003e \u003cp\u003eDiscussion Questions 309\u003c\/p\u003e \u003cp\u003eReferences 315\u003c\/p\u003e \u003cp\u003eIndex 321\u003c\/p\u003e \u003cp\u003e\u003cb\u003eKELLY A. McGUIRE\u003c\/b\u003e leads SAS’s Hospitality Global Practice. She is an analytics evangelist, helping SAS’s hospitality clients realize value from big data and advanced analytics. She also led product management and business strategy for SAS’s pricing and revenue management analytics, working closely with IDeaS Revenue Solutions. Kelly has a PhD in Revenue Management from the Cornell Hotel School.\u003c\/p\u003e  \u003cp\u003eT he evolution of the digital economy has enabled consumer behavior to become more quantifiable. As a result, the role of revenue managers has changed from a tactical orientation to a strategic approach involving pricing, total hotel revenue management, and a customer-centric methodology to developing demand. \u003ci\u003eHotel Pricing in a Social World\u003c\/i\u003e demystifies the modern practice of revenue management to ensure revenue managers develop the knowledge and skills they need to meet today’s challenges and take advantage of profitable new opportunities.\u003c\/p\u003e \u003cp\u003eBased on research from leading experts and firsthand experiences of the author and revenue leaders from around the world, practical coverage guides hotel revenue managers to make the best decisions about data, technology, and business processes to move their business forward. Everything you need to be competitive today and into the future is inside—from innovations in analytics and technology improving pricing decisions, the expanding role of revenue management, and such broader strategic opportunities as personalization initiatives. Along the way, you’ll gain skills that will elevate your value in your company and the industry, including: \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eUsing pricing to improve reputation, drive market share, reinforce branding initiatives, increase guest loyalty, and attract new owners and investors\u003c\/li\u003e \u003cli\u003eIdentifying the best circumstances to apply price optimization as opposed to traditional inventory optimization \u003c\/li\u003e \u003cli\u003eDissecting analytics to uncover opportunities to improve decision making in revenue management as well as across the entire organization \u003c\/li\u003e \u003cli\u003eCreating intelligent demand management, where marketing generates demand during needed periods and promotional demand is accounted for in pricing and allocation decisions \u003c\/li\u003e \u003cli\u003eDeveloping a pricing strategy based on user-generated content \u003c\/li\u003e \u003cli\u003eBoosting other revenue-generating assets with a versatile revenue management framework\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003eWhether you want to become top talent or attract it to your hotel, \u003ci\u003eHotel Pricing in a Social World\u003c\/i\u003e is your single-source solution.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989372485861,"sku":"NP9781119129967","price":47.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119129967.jpg?v=1761783858","url":"https:\/\/k12savings.com\/products\/hotel-pricing-in-a-social-world-isbn-9781119129967","provider":"K12savings","version":"1.0","type":"link"}