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Product Description
This is the first text that has been developed specifically to examine what revenue managers in the hospitality industry must know and do to be successful. Numerous cases and practical examples are used to illustrate revenue management concepts. Chapter ending questions and problems help them perform the calculations and practice the decision–making skills that are used in the field. RM in Action shows how the revenue management principles can be clearly illustrated using real–world examples reported in various news outlets. RM on the Web offers sites listed on the Internet to provide supplemental information about a topic or issue. Revenue managers will then gain hands–on skills to effectively manage their inventories and prices.
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3 of 3 people found the following review helpful
An outstanding addition to the field!
3 Nov 2010
Format:Paperback
Hayes and Miller know their stuff and it shows. Their customer-centric approach to pricing is unique, much needed, and spot-on for today's economy.
I recommend this text to any serious revenue manager or pricing manager in the hospitality industry who wants to avoid falling into the "spiral down" approach to pricing hospitality products and services that too often occurs in a weakened market.
Based on my experiences in lodging and restaurant businesses, Hayes and Miller's approach of maintaining price integrity both in strong and in depressed market environments is much needed to avoid the discounting mania sometimes practiced by revenue managers who are not knowledgeable about the complex relationship between service levels, selling price and perceived value.
This book is a must-buy for anyone interested in knowing more about revenue management!
I recommend this text to any serious revenue manager or pricing manager in the hospitality industry who wants to avoid falling into the "spiral down" approach to pricing hospitality products and services that too often occurs in a weakened market.
Based on my experiences in lodging and restaurant businesses, Hayes and Miller's approach of maintaining price integrity both in strong and in depressed market environments is much needed to avoid the discounting mania sometimes practiced by revenue managers who are not knowledgeable about the complex relationship between service levels, selling price and perceived value.
This book is a must-buy for anyone interested in knowing more about revenue management!
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