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David K. Hayes and Allisha Miller John Wiley and Sons, Hoboken, New Jersey, 2011, 528pp., £39.99/EUR48.00,
ISBN: 978-0470393086
Revenue Management for the Hospitality Industry offers the reader a broad, practically focused overview of the operation of revenue management in hospitality. Indeed, I very much like the fact that the book reinforces the idea of revenue management as an independent area of hospitality studies.
The book's objectives are quite ambitious ; that is, to:
provide what hospitality revenue managers must know to be successful;
teach the reader (a person with some prior knowledge of hospitality) exactly how it is done;
identify what revenue management is not, for example effective marketing;
provide a grasp of the intricacies of effective pricing.
The book achieves this well, at the operational level. However, the science of revenue management is not really addressed. The chapter on forecasting does not provide enough guidance on...