Improving Hospitality Industry Sales: Twenty-Five Years of Revenue Management
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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.
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revenue management; restaurant table mix; casino revenue management; pricing strategy
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