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Recommended Reading: Revenue Management: Maximizing Revenue in Hospitality Operations

publication date: Jul 16, 2013
author/source: Dr. John Hogan CHA CHE CMHS


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 managementâ(tm)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.

Revenue Management: Maximizing Revenue in Hospitality Operations by Dr. Gabor Forgacs,

  A Speaker and Faculty Member @ HospitalityEducators.com 

  Top Notch - Excellent for Both the Industry and the University

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 â" internal and external measures
3. Tactical revenue management including forecasting demand and availability
4. Strategies in marketing, pricing, packaging and distribution channel
5. Revenue managementâ(tm)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
Hogan Hospitality

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