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Browsing by Author "Kimes, Sheryl E."

Now showing 1 - 6 of 6
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    The Basics of Yield Management
    Kimes, Sheryl E. (Cornell University Press, 1989-11)
    Yield-management systems have boosted revenue at many properties, but these electronic tools are not always compatible with the operating atmosphere of a hotel. If you want to introduce yield management at your property, you may need to make some changes first.
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    Electronic Distribution Channels’ Effect on Hotel Revenue Management
    Choi, Sunmee; Kimes, Sheryl E. (Cornell Hotel and Restaurant Administration Quarterly, 2002-06)
    Even with the variety of distribution channels available, rate and length of stay remain the key factors in revenue management.
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    Function-space Revenue Management: A Case Study from Singapore
    Kimes, Sheryl E.; McGuire, Kelly (Cornell University Press, 2001-12)
    Hotels can apply revenue-management systems to their function spaces—and boost the revenue contribution from those spaces.
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    The Future of Hotel Revenue Management
    Kimes, Sheryl E. (Cornell University School of Hotel Administration, 2017-01-13)
    A survey of some 400 revenue management (RM) professionals finds that the application of hotel RM has gradually become more strategic and more centralized, but changes in RM practices have come more slowly than expected in the past six years. In particular, an earlier prediction that RM would be applied to all hotel revenue streams remains a work in progress, as does the use of mobile technology and social media as distribution channels. In addition, it is now more common for hotels to establish separate RM departments, as projected. Poll participants in the current research project suggested that, going forward, RM practices will be more fully integrated into all hotel operations, including function space (although these ideas have yet to gain much traction in the industry). These findings represent an update of a similar study on emerging trends in RM conducted by the author in 2010.
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    Hotel Revenue Management: Today and Tomorrow
    Kimes, Sheryl E. (Cornell University, 2008-08-01)
    Hotel revenue management needs stronger support from human resources policies, according to this survey of 186 revenue managers. At the same time, respondents to the survey anticipate that revenue management will extend to other areas of the lodging business, including spas and function spaces. The principal human resources issue involves career paths for employees involved in revenue management. At the moment, the route to promotions for revenue managers is not clear. Some may move up from a single hotel to a group or division, but others may simply find employment in another lodging chain to move up. Moreover, many executives pointed to the difficulty of finding qualified revenue managers. With regard to the extension of revenue management to other hospitality areas, respondents commented that an integrated approach will be necessary. Although revenue management is largely viewed as a technical or quantitative process, pricing strategy and competitive tactics have become strong elements in revenue management. In all categories, respondents living in Asia thought revenue management techniques and issues were in greater need of improvement than did the revenue managers in North America. The dichotomy was particularly pronounced regarding human resources issues, but was also noticeable for technical issues, such as forecasting, optimization, and overbooking, as well as pricing and distribution.
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    Revenue Management in Restaurants: Unbundling Pricing for Reservations from the Core Service
    Kimes, Sheryl E.; Wirtz, Jochen (Cornell University School of Hotel Administration, 2016-03-24)
    A substantial minority of restaurant guests would be willing to pay separately for a restaurant reservation, while a much larger group is not supportive of this approach, according to an online survey of 297 U.S. residents. Those respondents who are most likely to accept the idea of paying for a reservation represent customers who are also relatively familiar with this practice. The survey respondents were reacting to three possible scenarios for unbundling the value of the reservation from that of the meal itself. Based in part on actual industry practice, the three scenarios are (1) a reservations company charges for a reservation but does not share the proceeds with the restaurant; (2) a reservations company charges for a reservation and shares the revenue with the restaurant; and (3) the restaurant charges a reservation fee without involving a third party. For revenue management purposes, familiarity with the unbundling practice is related to guest acceptance of that practice. Since numerous companies now sell prime restaurant reservations as a separate product, it seems likely that over time the guests’ familiarity with paying for at least some reservations will grow, along with their acceptance of the practice.