Abstract
AbstractThe lodging industry is faced with unique challenges in capturing the revenue opportunity from revenue management. Various factors such as fragmentation of the hotel landscape with a long tail of independent properties, the power of the online travel agencies, hotel ownership, and connectivity between the hotel CRS and PMS for a single image of room inventory are discussed. The various types of hotels, hotel ownership structures, role of star ratings and user ratings, and impact on bookings and revenue opportunity are reviewed. The role of product distribution and the revenue impact of customer acquisition through the travel agency channel (global distribution systems) and online travel agency (OTA) channels are discussed with a focus on how hoteliers can regain control with a view to maximizing direct bookings. This chapter concludes with a discussion of the hotel tech stack and sustainability in the travel ecosystem.
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