Improving Hospitality Industry Sales

From its origin in the airline industry nearly sixty years ago, revenue management has expanded to other hospitality industries, notably lodging and rental cars. More recently, “nontraditional” service industries, such as restaurants, golf courses, and casinos, have begun to adapt and apply revenue management principles. The first revenue-management—related article appeared in the Cornell Quarterly in 1988—an article that introduced revenue management concepts to the hotel industry. Subsequently, the Quarterly has published numerous revenue management studies, covering hotels, restaurants, golf courses, and function space. In addition, CQ has examined distribution and pricing issues. This review of twenty-plus years of CQ articles documents the expansion of revenue management themes as published in the Quarterly and suggests directions for future revenue management research.

[1]  Sheryl E. Kimes,et al.  Function-space Revenue Management: A Case Study from Singapore , 2001 .

[2]  Daniel C. Quan.  The Price of a Reservation , 2002 .

[3]  Sheryl E. Kimes,et al.  The Role of Technology in Restaurant Revenue Management , 2008 .

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[10]  Sheryl E. Kimes,et al.  The Basics of Yield Management , 1989 .

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[15]  Sheryl E. Kimes,et al.  Developing a Restaurant Revenue-management Strategy , 1999 .

[16]  Alex M. Susskind,et al.  An Evaluation of Guests’ Preferred Incentives to Shift Time-variable Demand in Restaurants , 2004 .

[17]  Gary M. Thompson,et al.  Evaluating Capacity- and Demand-Management Decisions at a Ski Resort , 2002 .

[18]  Applying Revenue Management to Palapas , 2006 .

[19]  Sheryl E. Kimes,et al.  Revenue Management on the Links , 2000 .

[20]  Sheryl E. Kimes,et al.  Forecasting for Hotel Revenue Management: Testing Aggregation Against Disaggregation , 2001 .

[21]  Richard B. Chase,et al.  Restaurant Revenue Management , 1998 .

[22]  Sheryl E. Kimes,et al.  Perceived Fairness of Yield Management , 2002 .

[23]  S. Kimes.  Preserving Your Revenue-management System as a Trade Secret , 2015 .

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[25]  Kristin V. Rohlfs,et al.  Customers' Perceptions of Best Available Hotel Rates , 2007 .

[26]  Walter J. Relihan.  The Yield-Management Approach to Hotel-Room Pricing , 1989 .

[27]  Sheryl E. Kimes,et al.  Restaurant Revenue Management , 2004 .

[28]  Gary M. Thompson.  Optimizing a restaurants seating capacity: use dedicated or combinable tables? , 2002 .

[29]  C. Anderson,et al.  Room-Risk Management at Sunquest Vacations , 2009 .

[30]  Karl J. Mayer,et al.  Yield management in Las Vegas casino hotels , 1997 .

[31]  Sheryl E. Kimes,et al.  Electronic distribution channels' effect on hotel revenue management☆ , 2002 .

[32]  Gary M. Thompson.  Optimizing Restaurant-Table Configurations: Specifying Combinable Tables , 2003 .

[33]  Jochen Wirtz,et al.  Perceived Fairness of Demand-Based Pricing for Restaurants , 2002 .

[34]  John T. Gourville,et al.  How Packaging Services Can Hurt Consumption , 2001 .

[35]  Jochen Wirtz,et al.  The Effect of Meal Pace on Customer Satisfaction , 2007 .

[36]  Sheryl E. Kimes,et al.  The Perceived Fairness of Waitlist-management Techniques for Restaurants , 2006 .

[37]  Michael M. Lefever.  The Gentle Art of Overbooking , 1988 .

[38]  William J. Quain,et al.  Revenue Enhancement, Part 3 , 1999 .

[39]  Kate D. Dunn,et al.  Profit analysis , 1990 .

[40]  Sheryl E. Kimes,et al.  Implementing Restaurant Revenue Management , 1999 .

[41]  R. Cross,et al.  Revenue Management's Renaissance , 2009 .

[42]  Stowe Shoemaker,et al.  Price-Sensitivity Measurement: A Tool for the Hospitality Industry , 1997 .

[43]  How packaging services can hurt consumption , 2001 .

[44]  Eli Cohen,et al.  Hotel Revenue-management Forecasting , 2004 .

[45]  Sheryl E. Kimes,et al.  Perceived Fairness of Yield Management , 1994 .

[46]  Eric B. Orkin.  Wishful Thinking and Rocket Science , 1998 .

[47]  Sunmee Choi,et al.  Impact of Information on Customer Fairness Perceptions of Hotel Revenue Management , 2005 .

[48]  Carolyn U. Lambert,et al.  The Overbooking Question: A Simulation , 1989 .

[49]  Eric B. Orkin.  Boosting Your Bottom Line with Yield Management , 1988 .

[50]  Gary M. Thompson.  Chapters School of Hotel Administration Collection 2-2009 ( Mythical ) Revenue Benefits of Reducing Dining Duration in Restaurants , 2019 .

[51]  R. Cross,et al.  Launching the revenue rocket: How revenue management can work for your business , 1997 .

[52]  Table-Games Revenue Management , 2007 .

[53]  Warren H. Lieberman,et al.  Debunking the Myths of Yield Management , 1993 .

[54]  Sunmee Choi,et al.  Group Revenue Management , 2006 .

[55]  Rex S. Toh,et al.  Hotel room-inventory management: an overbooking model. , 2002 .

[56]  Larry Weatherford,et al.  Length of Stay Heuristics: Do They Really Make a Difference? , 1995 .