INTO THE HOTEL REVENUE MANAGEMENT. “History & Forecast”

During uncertain times a deeper attention on strategies is highly recommended in order to minimize the loss and maintain, or gain in certain cases, market share (Vergara C., 2004). In this direction, hotels are asked to invest more in Revenue Management intelligence, not only toward the actual practices based on Room Revenue, but also taking into consideration the other incoming departments and in particular Food & Beverage. This article aims to clearing up the current state of the Revenue Management theory and practice, starting from its origin, crossing the five pillars, or the current policies and ending with a brief hint on the future of the entire hotel industry, which here we may call as Total Revenue Management or Revenue Management 100% thereof.