An analytical study on Revenue Management Practices and its impact on Hotel performance
Revenue Management, the practices of planning, forecasting and controlling the demand of customers by using the dynamic pricing, capacity management and other practices to increase the profit. Revenue Management practices fulfills all the techniques, pricing strategy and the forecasting for the organization goal and also helps to beat the competitor. The study reflected the concept of revenue management practices adopted by front office in Hotel Industry and emphasis on how its practices impact on hotel sales and performance in the hotel industry. This study also highlights the reason of practices being used in Hotel Industry and why hoteliers have to adopt Revenue Management practices in Hotel Industry. It is an analytical study based upon literature, research papers, articles, other sources of secondary data. The result of this collected information allows us to reflect the influence of Revenue Management practices on hotel performance.