Addressing an emerging course in hospitality management, this one-of-a-kind book outlines the basic elements of the revenue management process and the keys to effective revenue management planning. Using the Rev MAP model as a guiding framework, it shows how to develop, implement, and evaluate a strategic management process. Professional profiles highlight key issues and career paths, while application chapters relate material to each segment of the hospitality industry. A final chapter looks at trends and forecasts the future evolution of this important new field.

Introduction -- History -- Customer knowledge and consumer behavior -- Market segmentation and selection -- Internal assessment and competitive analysis -- Economic principles and demand forecasting -- Reservations and channels of distribution -- Dynamic value-based pricing -- Channel and inventory management -- Revenue management team -- Strategic management and following the RevMAP -- Tools, tactics, and resources -- Legal and ethical issues and potential bumps in the road -- Crystal ball -- Applications in lodging and food and beverage -- Applications in sports, entertainment, and event management -- Applications in cruise, spa, and luxury RV resorts -- Applications in golf, gaming, and theme parks.