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This short course provides students with an overview of this important discipline and is an ideal supplement to a marketing, front office, or general operations class.
A solid understanding of revenue management’s key concepts and the selective application of its most effective strategies and tactics have become mission critical for most hospitality operations. This NEW book explores the applicability of revenue maximization strategies and their operational aspects.
Readers will learn the difference between strategic and tactical revenue management and why that distinction is critical, the tools that are available to revenue managers and when to use them, the broad range of information needed to effectively maximize revenue, vital issues to consider before implementing revenue management tactics, how revenue management is often misunderstood and applied inappropriately, the significant potential consequences of using revenue management poorly, as well as the benefits it can provide when done well.
- Sales Rank: #1622260 in Books
- Brand: Forgacs, Gabor/ American Hotel & Lodging Association (COR)
- Published on: 2012-06-09
- Original language: English
- Number of items: 1
- Dimensions: 8.80" h x .30" w x 7.00" l, .45 pounds
- Binding: Paperback
- 121 pages
About the Author
About the Educational Institute
We Train The Best!
The American Hotel and Lodging Educational Institute (AHLEI) is the premier source for delivering quality hospitality education, training and professional certification that serves the needs of hospitality schools and industries worldwide.
The AHLEI meets and exceed its education and training mission by providing materials for all levels of hospitality personnel via: online learning, distance learning courses, videos, seminars, textbooks, and study guides.
Professionalcertificationfrom the AHLEI is the ultimate distinction of professional excellence for the hospitality industry. It certifies and validates competencies in conjunction with academia and industry experts for over 35 positions in the hospitality industry; designations from front-line to general manager, including the prestigious CHA - the Certified Hotel Administrator.
Most helpful customer reviews
3 of 4 people found the following review helpful.
An Excellent Resource for Hotel Owners, Managers and Hospitality Students
By johnjhogan
Revenue Management in hotels has evolved from the airlines yield management systems introduced in the 1980s as a means of more effectively linking pricing to specific supply and demand using automation.
Understanding the key concepts in revenue management's and applying its most useful strategies and tactics have become critical for most hospitality operations, regardless of hotel size, brand or location.
Dr. Gabor Forgacs has worked in the industry on two continents over a 20 year period. He has been on the faculty of the Ted Rogers School of Hospitality and Tourism Management at Ryerson University in Toronto since 1997. Dr. Forgacs has used this combination of experience and research in a new resource that delves into revenue maximization strategies and their operational application.
The book is an easy read of only 100 pages, but it is full of useful information.
The 5 chapters are:
1. What is revenue management?
2. Measurement - internal and external measures
3. Tactical revenue management including forecasting demand and availability
4. Strategies in marketing, pricing, packaging and distribution channel
5. Revenue management's role and place, including automation and systems
Each chapter includes an outline and competencies to be gained by understanding the material in that chapter. While this book is used in academic and university settings, Dr. Forgacs has made the material very user friendly to both hospitality students and end users in the industry.
Readers will study the distinctions between strategic and tactical revenue management and why that distinction is important. He identifies tools that are available to revenue managers and when to use them.
He explains how to interpret the wide variety of information needed to effectively maximize revenue, as well as essential issues to scrutinize before implementing revenue management tactics. He explains how revenue management is often misunderstood and applied inappropriately, as well as potential consequences and costs that may be incurred if revenue management is used improperly. On balance, he also outlines the many benefits that can be achieved when properly done.
I am pleased to recommend this book.
Dr. John Hogan, CHA CHE CMHS
HospitalityEducators
Hogan Hospitality
1 of 1 people found the following review helpful.
Just what I needed
By Emilio Ferrero
Although I was expecting a more detailed book, this is a basic , down to earth book. It is just what I needed.
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