News & Research

A history of revenue management and the advent of next-generation RM

ABSTRACT

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The Intersection of BI and Revenue Management

If you have been in analytics for a while, you know that revenue management is an old, well-established practice in some industries. Its primary goal is to sell the right product to the right customer at the right time for the right price. Revenue [...]

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Pricing as a Competitive Weapon: How IHG’s Price Optimization Capability Revolutionized Pricing for Hospitality

IHG Facts Sheet

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B2B Price Optimization Analytics

Introduction Business to business (B2B) pricing differs from business to consumer (B2C) pricing. In both paradigms modeling demand as a function of price is central, but the nature of demand in the two cases is different, necessitating different [...]

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Milestones in the Application of Analytical Pricing and Revenue Management

ABSTRACT This article identifies major milestones in the science of Pricing and Revenue Management. It starts with the first successes in travel and transportation, and it follows the progression of the discipline in those realms. It explores [...]

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Book Review: Moneyball

Michael Lewis’ Moneyball is a fascinating account of a recent revolution in baseball. The book tells the story of the Oakland A’s, who pioneered the use of advanced statistics in player evaluation to gain a competitive advantage. The A’s caught [...]

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Revenue Management's Renaissance: A Rebirth of the Art and Science of Profitable Revenue Generation

The era has ended when revenue management can stand alone as a tactical approach to room management. With technological and management support, revenue management must be and is being integrated into all aspects of hotel management marketing and [...]

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The “Killer Application” of Revenue Management: Harrah’s Cherokee Casino & Hotel

Harrah’s Cherokee Casino & Hotel is an unusual example of the use of revenue management (RM) techniques. Typical RM installations yield revenue improvements of between 3 and 7 percent. The Harrah chain has seen 15-percent improvements, with Harrah’s [...]

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Customer-centric pricing: The surprising secret for profitability

Abstract Companies spend enormous amounts of energy and capital in creating value for customers, but less regard is given to actually capturing the value they have created. Segmentation based on buying behavior uncovers a tremendous differential in [...]

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