Revenue Management has been one of the contributors towards business profitability and its wide adoption by most service organizations especially hotels evidence its success and strong future. There has been little research in the Indian context to probe rather lethargic absorption of Revenue Management practices in India due to around its acceptance from customers. The purpose of this research was to explore the existing revenue management practices, emerging opportunities and the challenges in the luxury segment from hotel operator’s perspective.
A qualitative approach was adopted for the investigation through personal in-depth interviews with Revenue managers and General Managers (in absence of Revenue Manager) of five star luxury hotels. This study aimed to explore the revenue management practices and the challenges faced by Indian Revenue Managers of five star luxury categories.
This research helped in identifying the level of achievement of five star luxury hotels in applying Revenue Management practices and also thrown light on the knowledge and awareness of Revenue and General Managers. This study also uncovered the challenges faced by Indian Hospitality Managers while implementing Revenue Management in five star hotels of India. The practical implication of this study was to suggest strategies that Indian Hotel Managers can adopt to overcome challenges and implement revenue Management effectively in other parts of the hotel and make Revenue Management as “Responsible Revenue Management”.
Singh, Anjana and Munjal, Sandeep (2013) “Emerging revenue management practices and its challenges: Indian luxury hotelier’s” perspective proceedings of the International conference on Global Competitiveness and Corporate Governance Imperatives in Emerging Economies, organized by Ansal University (School of Management studies) on February 15-16, 2013
About the Authors
Anjana Singh has over 10 years of mixed experience in the hospitality Industry and academia, with almost 7 years in academics and 3 years in hotel operations. She has earlier held various operations and decision making positions with some of the major players of the Hospitality Industry – Taj Groups of Hotels, Hyatt Regency and The Imperial, New Delhi, India.
Her Current Teaching assignments are Revenue Management, Human Resources, Intercultural Management in Hospitality, E-commerce, Career Planning, Environmental Management in Hospitality Industry, Developing Management Capabilities and Hospitality Operations.
Professor Sandeep Munjal brings in a diverse experience of over 20 years in both industry and academia. During his early career he worked in management positions in the hospitality and retail sectors both in India and internationally. Taj Group of Hotels, Aramark Corporation (USA) and Compass Group are some of the prominent companies he has worked for at various management positions. In academics his strengths lie in the domain of ‘Strategic Management’, ‘Operations Management’ and ‘Sustainable Tourism ‘. He is an active researcher who has published widely in international and domestic journals of repute in the areas aligned with his teaching interests. His has also presented papers at numerous national and international conferences.
Vedatya Institute (Formerly known as IIMT) is an initiative of IIT & the Wharton School alums who wish to replicate their own quality educational experience for the benefit of students in India. It was established with the active support of corporations such as – The Carlson Group – USA and the Edwardian Group, UK. The institute was established in the year 2000 as a higher learning institution in India offering internationally recognised undergraduate and postgraduate programmes of study in the professional areas of hospitality and business management. The institute’s campus, located on Gurgaon – Sohna road, is fully integrated with academic, recreational and residential facilities for students.