Hotel Pricing in a Social World : Driving Value in the Digital Economy.

Kelly A. McGuire
Bok · Engelsk · 2015 · Electronic books.

Omfang	1 online resource (354 pages)
Utgave	1st ed.
Opplysninger	Cover -- Title Page -- Copyright -- Contents -- Foreword -- Acknowledgments -- About the Author -- Part One: New Analytics for a New Environment: The Evolution of Hotel Revenue Management Analytics, Technology, and Data -- Chapter 1 The Social World Has Changed Revenue Management Forever -- The Changing Marketplace -- The Evolution of the Revenue Management Function -- What to Expect from This Book -- What's in This Book -- Chapter 2 Demystifying Price Optimization -- A History Lesson: Yield Management in the Airlines -- Then Things Changed . . . -- Price Optimization -- What Is Optimization? -- Price Optimization for Hotels -- And the Money Came Rolling In . . . -- Additional Reading -- Revenue Management Perspectives -- Rethinking the Revenue Management Process: Are We Too Obsessed with Forecasts? -- Notes -- Chapter 3 Big Data, Big Analytics, and Revenue Management -- What Is Big Data? -- Storing Unstructured Data -- Innovations in Executing Analytics -- Innovations in Solution Delivery -- Where Big Data Meets Big Analytics for Revenue Management -- Data Visualization and Big Data -- Responsible Use of Big Data -- Identifying the Data Source -- Evaluating the Data -- The Problem with Big Data in Analytics -- Conclusion -- Additional Reading -- Revenue Management Perspectives: The Role of Big Data in Revenue Management Science -- Something to Think About . . . -- Note -- Part Two The Expanding Role of Revenue Management -- Chapter 4 Hotel Pricing in a Social World: Price, UGC, and Buying Behavior -- Price, Ratings, and Reviews: How Consumers Choose -- Study 1: UGC, Price, and Quality and Value Perceptions -- Study 2: The Power of the Negative Review -- Study 3: Price, UGC, and the Business Traveler -- Business Travelers Loyalty and Demographics -- Overall Attribute Importance -- Attribute Levels and Value Assessments -- Assessing Overall Value.. - Build a Selling Strategy around System Recommendations -- Benefits of Strategic Pricing -- Lodging Performance -- Short-Term versus Long-Term: citizenM Hotel Glasgow -- Back to the Basics at Red Roof Inns -- Conclusion -- Additional Reading -- Revenue Management Perspectives: ADR versus Market Share -- Notes -- Chapter 8 The Path to Personalization: Revenue Management's Contribution to the New Guest Experience -- Personalization, a Vision -- An Illustrative Example -- Unknown Guests Are an Opportunity, Too -- Execution -- Moving Past Traditional Web Analytics to Digital Intelligence -- Integrated Data for Digital Intelligence -- Revenue Management Supporting the Personalization Vision -- Personalization and Guest-Centric Revenue Management -- Customer Choice Modeling -- How Do We Get Started? -- Examples of Starting on the Path to Personalization -- Webpage Interactions -- Agent Selling Experience -- During the Service Experience -- Notes -- Profiling versus Tracking Behavior: A Cautionary Tale -- Final Advice for Revenue Managers -- Additional Reading -- Revenue Management Perspectives: Convergence of Digital Marketing and Revenue Management -- Chapter 9 The Future of Revenue Management -- Profile of a Revenue Manager -- What the Research Says -- Finding and Retaining Talent -- Revenue Management Career Paths -- Revenue Management Organizations -- Aligning the Pricing Function with Operational Constraints -- Revenue Leader Predictions -- Final Thoughts -- Additional Reading -- Revenue Management Perspectives: A Case Study in Organizational Structure -- Notes -- Appendix: Practical Tips for Revenue Managers -- Practical Tip 1: Telling a Story with Data -- Why Are Visualizations So Important? -- Creating Powerful Visualizations -- Using Visualizations to Tell a Story with Data -- Additional Reading -- Questions.. - Key Takeaways from the Business Traveler Study -- User‐Generated Content and Lodging Performance -- Ratings and Performance -- Responses to Reviews -- TripAdvisor Rank -- Number of Reviews -- Quality of Reviews -- Images -- Conclusions from This Research -- Reputation and Revenue Management Systems -- Challenge 1: Understanding Where the Data Comes From -- Challenge 2: Making Apples to Apples Comparisons -- Challenge 3: Deciding on Tactical versus Strategic Usage -- Conclusion -- Additional Reading -- Revenue Management Perspectives: A Case for Tripadvisor Rank -- Chapter 5 Integrating Revenue Management and Marketing -- A Vision for Integrated Marketing and Revenue Management -- Limitations of the Revenue Management Approach -- Understanding Marketing Data and Analytics -- Integrating Revenue Management and Marketing Decisions -- Achieving the Vision -- A Word of Caution -- Conclusion -- Additional Reading -- Revenue Management Perspectives: What about Sales? -- Chapter 6 Total Hotel Revenue Management -- Revenue Management Beyond Rooms: A Process* -- Understand the Theory -- Understanding Performance Metrics -- Follow a Formal Process -- Look for Low-Hanging Fruit -- Involve the Operations -- Publicize Your Successes -- Guest-Centric Revenue Management -- What is the Goal of Total Hotel Renenue Management? -- Putting it All Together -- Conclusion -- Additional Reading -- Revenue Management Perspectives: Distribution Channel Management -- Part Three The Future of Revenue Management: Pricing as a Business Strategy -- Chapter 7 Pricing as a Strategic Tool -- Strategy Considerations -- Price and Brand: The Importance of Consistency -- Pricing to Support Business Strategies -- Leveraging Your Revenue Management Systemin Price Strategy -- How to Be More Strategic in Pricing -- Back Up Your Strategy with Analytics -- Analyze Your Rate Spectrum.. - Practical Tip 2: Taking Advantage of Social Data and Channels -- Practical Tip 3: Driving Market Share-an Airline Example* -- Discussion Questions -- Chapter 2 -- Chapter 3 -- Chapter 4 -- Chapter 5 -- Chapter 6 -- Chapter 7 -- Chapter 8 -- Chapter 9 -- References -- Index -- EULA.
Emner	Hotels--Rates.
Sjanger	Electronic books.
Dewey	910.46068
ISBN	9781119192404
ISBN(galt)	9781119162285