Award Date

12-2011

Degree Type

Thesis

Degree Name

Master of Science in Hotel Administration

Department

Hotel Administration

First Committee Member

Mehmet Erdem, Chair

Second Committee Member

Karl Mayer

Third Committee Member

Billy Bai

Graduate Faculty Representative

Keong Leong

Number of Pages

103

Abstract

The overall goal of this study was to examine Revenue Management (RM) practices in Las Vegas casino resorts. A great deal of research has been done on RM in the hospitality industry. The academic research has examined RM in hospitality in general, but not specifically in casino resorts, which gain their revenue from both rooms and resort amenities. Moreover, the academic literature often show high-level mathematic-based solutions or statistical applications, but not necessarily pragmatic techniques for practitioners. This qualitative study investigates the extent to which the essential fundamentals of any RM system are implemented successfully by casino RM professionals and managers who work closely on RM.

The study relies on in-depth interviews with casino RM professionals and academic professors who specialize in the field, as well as observation. It finds that essential key functions for RM practices for both traditional hotel and casino resorts are similar. However, for the gaming industry, especially for Las Vegas casino resorts, customer segmentation is the key. The resorts pay much more attention to customer valuation, because longer-staying guests may not yield higher gaming value or overall revenue if the managers failed to allocate rooms to the right segments. It also finds that strategic pricing in the Las Vegas gaming industry differed from the hotel industry, and identifies key skill sets sought for RM professionals in the casino resort industry.

Keywords

Casinos; Nevada – Las Vegas; Gambling industry; Resorts; Revenue management; Revenue management education; Revenue management gaming industry; Revenue management qualitative study; Rm ym in Las Vegas casino resorts; Social sciences

Disciplines

Accounting | Behavioral Economics | Economics | Gaming and Casino Operations Management | Hospitality Administration and Management | Tourism and Travel

Language

English


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