Hotel Revenue Management in an Economic Downturn

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Kimes, Sheryl; Anderson, Chris K.
Cornell University School of Hotel Administration; hospitality management; hospitality industry; revenue management; recession; Hospitality Administration and Management
article description
[Excerpt] When people talk about revenue management, they typically talk about good economic times in which demand exceeds supply. Indeed, that was the assumption that supported the discussion of revenue management principles in Chapter 14. But as we pointed out in that chapter, this book was written as the United States and the world were recovering from a remarkably deep recession and credit freeze. Consequently, we thought it would be important to discuss revenue management tactics for times when supply exceeds demand, with the continuing goal of selling the right room at the right price at the right time to the right customer, so as to maximize revenue.