An Overview of Revenue Management

Revenue management has experienced incredible growth in many different industries, most remarkably in the aviation, hospitality and rental car industries. As it expanded its practices from service-oriented industries to other sectors, the development and application of associated techniques extended as well from capacity control and dynamic pricing to more sophisticated approaches. Within the last years, revenue management has seen an outstanding boost in both research and industrial acceptance. Scientists, academics and practitioners are working hard on further fields of application of revenue management techniques. They are, also, driving the frontiers forward. This book aims at creating a general understanding and feeling for the basic concepts and importance of revenue management. Its application including high level technologies and systems for demand forecasting and optimisation can significantly maximize revenues. For that reason, with regard to the observable increase in revenues it is believed that revenue management will continue its penetration of management practice in service industries.