Revenue Management and it impacts on its actors in the hospitality industry

Since its apparition in the seventies due to the deregulation of airlines companies, Revenue Management has evolved and became strong strategic management tool for companies of services. Some of the industries concerned by this management are airlines companies, hospitality industry, railway industry, restaurants, entertainments parks, etc… We focused our study on the hospitality industry. This industry is currently one of the most active in the world and there is strong competitiveness within it. Hospitality industry is made of many actors as customers and the different departments of a hotel; as marketing and accounting, all of them are part of the main important actors. Indeed, customers are the basis of the hospitality industry, without them the services does not exist. However, in order for a hotel to work properly, it is necessary to have supporting activities that will help the service to be offered. Then, as Revenue Management is about increasing the revenues to generate more profits but also to generate more sales by identifying the right customer for the right product at the right time, we can deduce that it is related to the marketing and accounting services that assume these functions. This study has demonstrated the links that can be made between the Revenue Management and customers but also to the different departments of a hotel. Indeed, the pricing made through Revenue Management is based on the customers’ segmentation and especially their willingness to pay. Finally, departments of the hotel can be linked to Revenue Management because of the need of this one to be coordinated with them about sales, profit and turnover to reach.