{"title":"What is the future of competitive revenue management in the travel industry?","authors":"B. Vinod","doi":"10.1057/s41272-024-00489-3","DOIUrl":null,"url":null,"abstract":"<p>Competitive Revenue Management has been practiced in the airline and hotel travel verticals for over two decades. Leveraging the selling fares and rates of competitors as input into the revenue management systems improves inventory control recommendations that is reflective of prevailing market conditions. Recently, several class action lawsuits have appeared against casino-hotel operators who use automated revenue management software to recommend the best available rates. This has attracted the attention of the Department of Justice and the Federal Trade Commission who are investigating anti-competitive practices of casino-hotel operators. While Competitive Revenue Management is an established business process in the travel industry, this brings up the issue of the future of this revenue management practice in travel.</p>","PeriodicalId":1,"journal":{"name":"Accounts of Chemical Research","volume":null,"pages":null},"PeriodicalIF":16.4000,"publicationDate":"2024-05-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Accounts of Chemical Research","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1057/s41272-024-00489-3","RegionNum":1,"RegionCategory":"化学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"CHEMISTRY, MULTIDISCIPLINARY","Score":null,"Total":0}
引用次数: 0
Abstract
Competitive Revenue Management has been practiced in the airline and hotel travel verticals for over two decades. Leveraging the selling fares and rates of competitors as input into the revenue management systems improves inventory control recommendations that is reflective of prevailing market conditions. Recently, several class action lawsuits have appeared against casino-hotel operators who use automated revenue management software to recommend the best available rates. This has attracted the attention of the Department of Justice and the Federal Trade Commission who are investigating anti-competitive practices of casino-hotel operators. While Competitive Revenue Management is an established business process in the travel industry, this brings up the issue of the future of this revenue management practice in travel.
期刊介绍：
Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance.
Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.
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