Economic Principles for the Hospitality Industry
Economic Principles for the Hospitality Industry

Author: Ricardo C.S. Siu

Publisher: Routledge

Published: 2019-06-27

Total Pages: 203

ISBN-13: 1351610309

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Economic Principles for the Hospitality Industry is the ideal introduction to the fundamentals of economics in this dynamic and highly competitive sector. Applying economic theory to a range of diverse and global hospitality industry settings, this book gives the theory real-world context. Looking at critical issues around sustainable economic development in the hospitality industry such as diversification, technology, determinants of demand, and pricing, it enables students to effectively conduct business analyses, evaluate business performance and conduct effective improvements over time. Written in an engaging style, this book assumes no prior knowledge of economics and contains a range of features, including international case studies and discussion questions, to aid beginners in the subject. This will be an essential introductory yet comprehensive resource on economics for all hospitality students.

Economics of Tourism and Hospitality
Economics of Tourism and Hospitality

Author: Yong Chen

Publisher: Routledge

Published: 2021-05-13

Total Pages: 415

ISBN-13: 1000372383

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This book offers students an accessible and applied introduction to microeconomics in tourism and hospitality through a comprehensive analysis of the market mechanism, demand and supply, firm behavior and strategy, and transaction and institution. This book not only helps students to master core microeconomic theories that are essential for understanding the tourism and hospitality industry, but, more importantly, it guides students to analyze consumer behavior and firm strategy specific to the industry. Throughout the book, readers are guided to develop the economic analysis of tourism and hospitality that progresses from economic intuition to graphical representation and to mathematical quantification. Carefully corralled case studies showcase the applications of key microeconomic theories in solving a wide range of real-world problems, including Uber’s surge pricing, Airbnb’s supply adjustment, and McDonald’s and Burger King vying for prime locations. This book is written in an accessible style, illustrated with exquisite diagrams, and enriched with a range of other features, such as chapter summaries, review questions, and further readings to aid readers’ further understanding. By reading this book, students will be able to develop an economist’s way of thinking, which will enable them to analyze tourism and hospitality businesses in a rigorous and critical manner. This book is essential reading for all tourism and hospitality students and teachers.

Hotel Pricing in a Social World
Hotel Pricing in a Social World

Author: Kelly A. McGuire

Publisher: John Wiley & Sons

Published: 2015-10-26

Total Pages: 357

ISBN-13: 1119129966

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Take control of revenue management in the new hotel economy Hotel Pricing in a Social World: How to Drive Value in the New Hotel Economy is an insightful resource that provides guidance on improving organizational decision making to keep your hotel relevant, from a pricing standpoint, in the often chaotic hotel landscape. This groundbreaking book clearly showcases the current environment of the hotel industry, and describes new and emerging trends that can impact your revenue management tactics. This essential text prepares you to survive and thrive in today's highly competitive market, and outlines the best approach to building profitable pricing strategies that follow both tactical and strategic best practices. Revenue management has become a key activity in the highly social environment of today's hotel industry, thanks to mobile technology and social media. Though relatively new, revenue management is a quickly-evolving discipline that requires precision if you want to maintain your hotel's relevance in the market. Leverage original research, case studies, and industry examples to understand the practical application of key concepts Explore current market conditions that have an impact on revenue management Consider how advances in data management, analytics, and data visualization can impact revenue management practices Identify how revenue management can help you take advantage of market opportunities and overcome challenges Hotel Pricing in a Social World: How to Drive Value in the New Hotel Economy is an essential text for hotel CFOs, CMOs, revenue managers, and operations managers who want to leverage revenue management techniques to keep their hotel competitive.

The Routledge Handbook of Hotel Chain Management
The Routledge Handbook of Hotel Chain Management

Author: Maya Ivanova

Publisher: Routledge

Published: 2016-05-05

Total Pages: 567

ISBN-13: 1317618440

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Understanding the global hotel business is not possible without paying specific attention to hotel chain management and dynamics. Chains are big business, approximately 80 percent of hotels currently being constructed around the world are chain affiliated and, in 2014, the five largest brands held over a one million rooms. The high economic importance of the hotel chains and their global presence justifies the academic research in the field however, despite this, there is no uniform coverage in the current body of literature. This Handbook aids in filling the gap by exploring and critically evaluates the debates, issues and controversies of all aspects of hotel chains from their nature, fundamentals of existence and operation, expansion, strategic and operational aspects of their activities and geographical presence. It brings together leading specialists from range of disciplinary backgrounds and regions to provide state-of-the-art theoretical reflection and empirical research on current issues and future debates. Each of the five inter-related section explores and evaluates issues that are of extreme importance to hotel chain management, focusing on theoretical issues, the expansion of hotel chains, strategic and operational issues, the view point of the individual affiliated hotel and finally the current and future debates in the theory and practice of hotel chain management arising from globalisation, demographic trends, sustainability, and new technology development. It provides an invaluable resource for all those with an interest in hotel management, hospitality, tourism and business encouraging dialogue across disciplinary boundaries and areas of study. This is essential reading for students, researchers and academics of Hospitality as well as those of Tourism, Marketing, Business and Events Management.

Hotel Management and Operations
Hotel Management and Operations

Author: Denney G. Rutherford

Publisher: John Wiley & Sons Incorporated

Published: 1990

Total Pages: 381

ISBN-13: 9780442205348

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Provides a broad range of research and commentary on issues in the management of modern hotel departments for students. Covers changes in the industry reflecting the economy, organizational design, interdepartmental conflict in hotels, food and beverages, entertainment, front office management, marketing, financial control, and managing human resources. Includes numerous examples and case histories. Annotation copyright by Book News, Inc., Portland, OR

Sustainability and Competitiveness in the Hospitality Industry
Sustainability and Competitiveness in the Hospitality Industry

Author: Costa, Vânia

Publisher: IGI Global

Published: 2022-04-08

Total Pages: 312

ISBN-13: 1799892875

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The hospitality industry is one of the most significant drivers of economic growth and socioeconomic advances in both developed and developing countries. This industry contributes directly to gross domestic product, job creation, income level, destination expansion, and economic development. Forecasts for 2020 indicated a promising year was ahead for this industry, but the COVID-19 pandemic had a catastrophic impact. Hospitality companies are experiencing one of the biggest, unprecedented crises to date, and experts must now rethink strategies to ensure these businesses’ recovery. Sustainability and Competitiveness in the Hospitality Industry focuses on complex issues from a hotel industry perspective. It surveys existing research by reflecting on the pandemic’s impacts and generates scenarios for how to strengthen business structures. Covering a wide range of topics such as digital hospitality and tourism products, this reference work is ideal for managers, business professionals, entrepreneurs, practitioners, researchers, academicians, instructors, and students.

Hotel Finance
Hotel Finance

Author: Anand Iyengar

Publisher: Oxford University Press, USA

Published: 2008

Total Pages: 0

ISBN-13: 9780195694468

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Hotel Finance is a comprehensive textbook, designed especially for the students of Hotel Management. The book explores theoretical financial concepts relevant to the hospitality organizations, such as Financial Analysis and Planning, Management of Working Capital, Capital Budgeting, Long Term Financing for Hospitality Organizations in detail. The book imparts a good understanding of financial principles to the students of hospitality studies and discusses issues related to the changes in the financial environment affecting the hospitality business. The book has a lot of case studies, which have been taken from the hospitality industry. The problems and illustrations are also directed at the application of the principles of finance to the hospitality business. Each chapter contains adequate self-test questions that serve as checkpoints for students to assess their level of understanding.

The International Hospitality Industry
The International Hospitality Industry

Author: Bob Brotherton

Publisher: Routledge

Published: 2003

Total Pages: 252

ISBN-13: 0750652950

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Looks at both specific sectors of the Hospitality industry, such as restaurants, cruises, hotels and contract foodservice. This book highlights the key issues that are encountered within every sector of the industry - operations, IT, marketing and HR among others - thereby providing the reader with an overview of the field.

Hotel Revenue Management
Hotel Revenue Management

Author: Dave Roberts

Publisher: Business Expert Press

Published: 2022-01-27

Total Pages: 183

ISBN-13: 1637421923

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This book guides the reader from the building blocks of revenue management, to pricing science and merchandising, and to broader issues of setting objectives in support of a revenue strategy. The discipline is evolving, and that evolution has been accelerated by the COVID-19 pandemic. Leaders in hotel revenue management, and more broadly in sales & marketing, need to understand these changes, and lead and adapt accordingly. This will require a strong foundation in analytics–not just modeling, but also business analytics in support of a holistic strategy. As more of the tactics of revenue management are executed through automation, and powered by machine learning, revenue managers will become more focused on strategy and will need to think about revenue management in the context of marketing, loyalty, and distribution. As the strategy component of the discipline increases, so too must the breadth of knowledge of revenue managers.

The Economic Ascent of the Hotel Business
The Economic Ascent of the Hotel Business

Author: Paul Slattery

Publisher: Goodfellow Publishers Ltd

Published: 2012-03-12

Total Pages: 287

ISBN-13: 1906884684

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The Economic Ascent of the Hotel Business is about the hotel business and the economic contexts in which it has evolved. Now in its second edition, it is fully updated and includes a new chapter which examines the options for the world economies, their implications for the hotel business and their impact on hotel chains in the decade to 2020.