Developing the dimensions of activities important to successful revenue management performance: an application of the lodging industry Online publication date: Mon, 11-Oct-2010
by Jeffrey Beck, Bonnie Knutson, SeungHyun Kim, JaeMin Cha
International Journal of Revenue Management (IJRM), Vol. 4, No. 3/4, 2010
Abstract: The increased use of revenue management (RM) has generated the need for trained, skilled individuals who can execute the RM system. The primary objective of this study was to identify and validate the underlying dimensions of activities important to successful RM performance. The data (N = 197) collected from an online survey was analysed using both exploratory and confirmatory factor analyses. These scale-development procedures resulted in a 22-item scale consisting of six factors: communicating effectively, managing daily activities, leading the revenue team, analysing trends, professionalising the RM profession and developing effective RM strategies. The results of this study suggest that developing effective RM strategies and analysing trends are the most important factors to a revenue manager's success. The implications of the study as well as directions for future research are discussed in this paper.
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