Overview of revenue management

Revenue management is a new management technology that seeks to maximize revenue. It was born in the 1980s and was first developed by civil aviation.

The important function of this classification standard is to distinguish those customers who are willing and able to spend from those who are willing to change their consumption patterns in order to make the price lower through price stripping, so as to maximize the potential market demand and improve efficiency.

Price and revenue management will be one of the most important marginal industries with the highest rate of return in 2 1 century. In the hotel industry, due to the great influence of revenue management system on the company's decision-making and profitability, the management of many famous hotel groups in the world, especially the major hotel groups in Europe and America, attach great importance to revenue management, set up special revenue management departments one after another, and equipped with computer systems that can analyze a large number of data and optimize them in real time. Marriott Hotel, the largest hotel group in the United States mentioned in this paper, is the most successful user and the biggest beneficiary of revenue management.