Award Date

5-2017

Degree Type

Professional Paper

Degree Name

Master of Science in Hotel Administration

Department

Hotel Administration

First Committee Member

Toni Repetti

Number of Pages

38

Abstract

Revenue management is the act of skillfully, carefully, and tactfully managing, controlling and directing capacity and sources of income, given the constraints of supply and demand (Forgacs, 2010). This field grew out of the yield management strategies developed for use in the airline industry beginning in the 1960s. They used data driven decision making to maximize revenues gained from every seat on every flight. The hospitality industry now views this field as one of the core competencies for successful profitability (Hayes & Miller, 2011). It is a multidisciplinary approach that blends elements of marketing, operations, and financial management to effectively forecast demand, set prices, and manage capacity. Through a review of extant literature on the field of RM, we can discover a number of methods that are suitable for application in restaurants.

Keywords

Revenue management

Disciplines

Business | Food and Beverage Management | Hospitality Administration and Management

File Format

PDF

File Size

68 Kb

Degree Grantor

University of Nevada, Las Vegas

Language

English


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