Revenue management trends and opportunities

Improving profitability: A conceptual model of destination-centric revenue management

“…Lieberman (2004) urged companies to concentrate on individual customers. Before that, Noone et al (2003) proposed that hotel RM be based on the lifetime value of a customer.…”

“…In hospitality, this concept was born from pooling customer relationship management (CRM) practises with RM, as highlighted by Noone et al (2003), and later developed by several authors (Lieberman, 2004;Hoang, 2007;Venkat, 2007;Vinod, 2008;Von Martens and Hilbert, 2011). In a study by Kimes (2010), practitioners agreed that managing all the potential revenue from a customer will be one of the future key themes within the discipline.…”

A taxonomy of information technology-enhanced pricing strategies

“…Pricing that serves to balance supply and demand within a specified period of time takes the term "revenue management" (Cross, 1997). An analytical process developed to manage capacity and maximize profitability (Talluri and van Ryzin, 2004), revenue management is based on market segmentation (Lieberman, 2004). Improvements in computer technology increase the practicality of statistical forecasting techniques and mathematical optimizing methods for determining optimal price discounting online.…”

A realisation of an apartment dynamic pricing system

“…Lieberman (2004) points out the similar issue of a low volume of transactions in 'nontraditional' RM industries, such as commercial real estate and self-storage, which have started to explore RM opportunities.…”