Revenue Management Practices in Hospitality Industry: A Research on Hotels in Konya, Turkey

OpenAlex · İngilizce

Revenue management might be considered as one of the important decision-making areas for accommodation facilities. Due to the perishable nature and time-related restrictions of services provided by tourism industry, enterprises are striving for better management of capacity and price in order to maximize their revenue. While serving as a managerial decision-making tool, revenue management needs to be tailored according to the market demographics and conditions. It is agreed by academicians and industry representatives that revenue management might be efficacious if it is coordinated and employed consistently. On the other hand, any inaccuracy about the incorporation of parameters determined for the revenue management model might cause conflicting results. Major aim of this study is to reveal the financial and competitive contribution of revenue management applications. Findings revealed that revenue management applications contributed to the hotels financially and competitively with varying proportions.