Yield management research through the analysis of scientific journals: preliminary results

The aim of this paper is to analyse articles relating to Yield Management published in a selection of journals at international level during the period 1996-2002. These will then subsequently be classified in accordance with List of Tourism Characteristic Products (drawn up by the World Tourism Organization and included in the Tourism Satellite Account), with a view to determining, on the one hand, which sectors data on Yield Management application is available for and, on the other, exploring new sectors that can be studied and researched. This paper forms part of a broader based paper which analyses publications relating to Yield Management in texts and monographs. The general goal of this line of research is to offer future researchers a methodical and exhaustive analysis of bibliography and research work done on the subject

Marco conceptual del yield management como técnica de gestión de la capacidad y la demanda en organizaciones de servicios

Con este trabajo se pretende contribuir a la difusión del Yield Management como una técnica de demostrada rentabilidad. Se define como técnica que, aplicada por ejemplo a hoteles, permite vender la habitación correcta, al precio correcto, al cliente adecuado y en el momento oportuno. El trabajo encuadro en primer lugar al Yield Management dentro de las distintas políticas de gestión de la capacidad y la demanda, después explícita sus fundamentos teóricos y formula cuá1 es su campo de aplicación. Por último, presenta los primeros resollados de una investigación sobre la aplicación de la técnica en el sector hotelero.The aim of this paper is to contribute towards the diffusion of Yield Management as a technique that has been proved to deliver. It is defined as a technique that, when applied to hotels, for example, permits the right room to be sold at the right price, to the right customer, and at the right time. The paper begins by explaining whereYield Management fits in amongst the array of capacity and demand management policies, and then goes on to detail the theory on which it is based and to formulate its sphere of action. Finally, the first results from a study of the technique applied to the hotel industry are set out

Tratamiento de capacity management e inventory management en manuales de revenue management

Revenue Management(RM) es una disciplina ampliamente extendida en el sector turístico relacionada con los sistemas de reservas a través de Internet, que utilizan los turistas hacer peticiones de habitaciones a hoteles, asientos de aerolíneas u otros servicios. Es una filosofía de gestión que combina gestión de capacidad, de demanda y de precios intentando conseguir constantemente la máxima rentabilidad y/o ingreso.Capacity Management(CM) es la parte de RM encargada de la gestión de la capacidad de la empresa e incluye como materias de estudio la optimización en la división de la capacidad, asignación de unidades de capacidad para la venta en cada segmento de mercado, la gestión de cancelaciones, no cumplidores (no-shows) y overbooking,además de las técnicas que permiten la obtención de valores óptimos en la gestión de capacidad y delinventario.Esta investigación se centra en los conocimientos considerados consolidados en esta materia. Se realiza un estudio de contenido de los apartados dedicados a Capacity Managementen los manuales de RM publicados a nivel nacional e internacional.Los resultados son útiles tanto para investigadores como profesionales.Revenue Management (RM) is a widespread discipline in the tourism sector which is related to booking systems typically used by customers in order to check availability or to book hotel rooms, flight seats or other services through the Internet. RM is a philosophy for business management thatcombines capacity, demand and price management aiming either for the maximum profitability or revenue throughout time.Capacity Management (CM) is the section of RM in charge of handling with the capacity of the company. It includes, as fields of study, the optimization of capacity division, the allocation of capacity units for sale to the various market segments as well as dealing with cancellations, no-shows and overbooking. It also takes into consideration the necessary techniques to obtain optimal values in capacity management and inventory management.The present research focuses on the study of the knowledge considered to be consolidated in this field. For this purpose, a study of the contents devoted to CM included in both national and international RM handbooks will be carried out. The results presented are of special utility for both researchers and professional

Exploring online prices with an advance booking horizon on Booking.com

The online market enables hotels to enhance their visibility and drive up their revenue. This study analysed both the average room price and price count (i.e. the sum of the number of prices that hotels offer) on Booking.com for a period of 300 days prior to check-in, with data classified by official hotel category. Hotels’ number of rooms, day of the week, room type, room capacity (i.e. maximum number of guests per room) and length of stay were also tracked. This research was based on a stratified sample of hotels gathered by using random sampling and proportional allocation, as well as defining the strata by hotel categories. The dataset included 1,353,751 records. The results reveal that channel management activities are an important area of hotels’ operations, which generate a considerable workload in terms of the time devoted to updating data and other related tasks. However, hotels’ participation in online channels does not always match their importance in the market as measured by their relative numberof rooms. Most of the variables under study have a significantpositiveimpact on prices, except for hotels’ number of rooms, which failed to follow any discernible pattern of influence.FCT: UIDP/SOC/04020/2020;info:eu-repo/semantics/publishedVersio

ESTUDIO DE LA OFERTA DE PRECIOS HOTELEROS ANTICIPADA A TRAVÉS DE UN IMPORTANTE CANAL DE DISTRIBUCIÓN ONLINE

This work focuses on the study of prices offered through an online distribution channel (Booking.com) on a concrete tourism destination. Hotels were selected by a stratified simple random sampling method with proportional allocation. Research is done over an extensive dataset (1,353,751 of records, big data). The advance booking period considered covers approximately a whole year, and this represents a great novelty with respect to previous studies. Average prices are calculated from the values ordinarily published by hotels on this type of channels, which allows providing the outline of the operational management of prices implemented on the destination, through the online distribution and from the supply perspective.Este trabajo se centra en el estudio de la oferta de precios a través de canales online (Booking.com) en un destino turístico. Los hoteles se han seleccionado mediante muestreo aleatorio simple estratificado con afijación proporcional. Se trabaja con un conjunto de datos de grandes dimensiones (big data, con un total de 1.353.751 registros). Se considera una antelación de estancia de aproximadamente un año, lo que supone una gran novedad respecto a estudios previos. En el trabajo se presentan los valores de precios considerando los datos habitualmente publicados por los hoteles en estos canales, lo que permite ofrecer una panorámica de la operativa relativa a la oferta de precios a través de la distribución online a nivel de destino turístico

Hotel price forecasting using time series. An exploratory research

[EN] This paper proposes the use of time-series-based forecasting methods to identify the main predictor variables of prices in hotels located in the city of Barcelona. However, in contrast to previous work, the research focusses on online prices, i.e. the prices set by hotel companies' revenue management algorithms, rather than purchase prices. For the training of the time series, a dataset of hotel prices offered on from Booking.com with a horizon of zero days in advance has been used. In addition to the price series itself, a set of exogenous variables has been included to improve the predictive capacity of the model. As a result, the relative importance of the lags of the endogenous variables and of the exogenous variables, as well as the prediction error, have been obtained. The lag is the main variable in the determination of the forecast and, more specifically, those referring to one day-, one week-, and one month-lags.This publication is part of the project TED2021-130406B-I00, funded by MCIN/AEI/10.13039/501100011033 and by the European Union "NextGenerationEU"/PRTRChávez-Miranda, E.; Toral, S.; Martínez-Torres, MR. (2023). Hotel price forecasting using time series. An exploratory research. Editorial Universitat Politècnica de València. 259-260. http://hdl.handle.net/10251/20170125926

Estado de la investigación de las publicaciones sobre Yield Management en revistas de turismo y hostelería

El Yield Management consiste en la asignación a la unidad correcta de capacidad (asiento de un avión, habitación de un hotel, etc.) al precio correcto y al cliente correcto, de forma que se consiga el máximo benefi cio posible (Smith et al., 1992). Se trata de un proceso complejo y dinámico (1) que se desarrolló a fi nales de los años setenta en Estados Unidos como respuesta a la desregulación del tráfi co aéreo. Según un estudio empírico (2) el 92% de los hoteleros sevillanos afi rman conocer la técnica pero ¿cuál es su difusión a nivel académico? En este trabajo recogemos los resultados obtenidos tras analizar las publicaciones sobre Yield Management en 9 revistas internacionales y 6 nacionales de Turismo y Hostelería durante el período 1996-2003. El proceso ha supuesto la revisión de más de 3.700 referencias y ha permitido la localización de 49 artículos sobre la técnica. Yield Management consists of assigning the right unit of capacity (aeroplane seat, hotel room, etc.), to the right customer at the right price in such a way as to maximise profi t (Smith et al., 1992). This is a dynamic and complex process (3) developed in the United States towards the end of the nineteen seventies as a response to the deregulation of air traffi c. According to an empirical study (4), 92% of hoteliers in Seville state that they are aware of the technique, but how extended is knowledge of it on the academic level? This paper gathers together the results of an analysis of publications on Yield Management in 9 international and 6 Spanish Tourism and Hospitality journals during the period 1996-2003. This process has required the reading of 3,700 references and has allowed 49 articles on the technique to be located

Aproximación a la medición de Revenue Management en destinos turísticos

Dada la gran importancia que tiene el turismo en la economía española, el presente trabajo se centra en la definición de indicadores de Revenue Management que permitan identificar los sectores que generan mayores ingresos y aquellos que conviene potenciar dentro del destino turístico. Todo ello con el fin de proponer mejoras para incrementar la rentabilidad a nivel de destino turístico mediante la medición y el análisis del indicador básico de Revenue Management. En este sentido, desde un punto de vista teórico, se ha explicado la ampliación del alcance del concepto de Revenue Management, centrándose en su aplicación en destinos turísticos. A continuación, se profundiza en la relevancia que tiene la gestión de destinos en la mejora de los ingresos de estos y se identifican los sectores en los que los turistas realizan un mayor gasto. Por último, se ha seleccionado un destino turístico concreto para medir a través del indicador el nivel de ingresos de sus sectores y subsectores.Due to the great importance of tourism in the Spanish economy, the current work focuses on the definition of Revenue Management indicators that allow to identify the sectors that generate higher incomes and those that should be promoted within the tourist destination. All this in order to propose improvements to increase the profitability of the tourist destination through the measurement and the analysis of the basic indicator of Revenue Management. In this way, from a theoretical point of view, the extension of the scope of the Revenue Management concept has been explained, focusing on its application in tourist destinations. Afterwards, the study reveals the relevance of destination management in improving its income level and the sectors in which tourists spend more money are identified. Finally, a specific tourist destination has been selected to measure the income level of its sectors and subsector

Applying forecasting Revenue Management techniques to enrolment management in a university centre

Revenue Management methodology is shown to be an innovative application for fixed capacity firms or service entities which require a management system that supports pricing and inventory decision-making. The present research study takes one of the elements of this philosophy – demand forecasting and estimation - as a theoretical basis and applies it to the case study. The aim is to obtain the predicted demand of enrolments in each academic year. This will support the improvement and optimisation of the operations related to capacity management in a university centr

Revenue management software in the hotel sector

La disponibilidad de software se ha erigido como un requisito fundamental para la aplicación de Revenue Management desde sus inicios. El gran volumen y variedad de datos requeridos para la adopción de decisiones de Revenue Management ha impulsado el desarrollo de soluciones, tanto genéricas que hemos denominado software de Revenue Management, como específicas, nombradas como herramientas de Revenue Management; en el contexto nacional e internacional. En este trabajo se analiza la evolución y la utilización de ambos tipos en función de la pertenencia o no a cadena hotelera. A nivel internacional se aprecia la difusión, en etapas tempranas de la implantación de Revenue Management, de software genérico. Centrándonos en el caso de España, actualmente se usa un mayor número de herramientas. Se identifican cinco software de Revenue Management mayoritariamente utilizados por cadenas hoteleras (EasyRMS, Synergy, Price Match, Ideas y ARMS); y 25 herramientas de apoyo (shoppers, channel managers, entre otros)que aseguran estar utilizando actualmente un elevado porcentaje de los hoteles que pertenecen a cadenas (93%) y todos los independientes (100%).The availability of software has constituted a fundamental requirement for the application of Revenue Management from its beginnings. The great volume and the variety of data required to adopt Revenue Management decisions has boosted the development of solutions in the national and international contexts that are both generic – which we have called Revenue Management software - and specific –Revenue Management tools. In this work, we analyse the evolution and the use of both types according to belonging to a hotel chain or not. At the international level, the diffusion of generic software is noted in the early stages of implementing Revenue Management. Centring on the case of Spain, more tools are currently used. Five software of Revenue Management have been identified, mainly utilised by hotel chains (EasyRMS, Synergy, Price Match, Ideas and ARMS), and 25 support tools (shoppers, channel managers, among others). The last ones are to a greater or lesser extent employed by a high percentage of the hotels that belong to chains (93%) and all those which are independent (100%)