Hotel revenue management: Research overview and prospects

Hotel is one of the most important research and application area of revenue management, and the goal of hotel revenue management is to achieve maximum room revenue through the better management of the room rates for different segments of customers. In this paper, the concept of hotel revenue management is discussed, and the application characters of hotel revenue management are introduced in six aspects, then its common research methods are summarized and analyzed. Based on the research overview of hotel revenue management, including demand forecasting, overbooking, room allocation control and pricing, the prospects of hotel revenue management are presented.