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How To Be a Successful Revenue Manager: A Case from the Marriott Turkey Cluster

Year 2022, Volume: 8 Issue: 1, 1 - 11, 30.06.2022

Tevfik Demirciftci

https://doi.org/10.26650/jot.2022.8.1.1038134

Abstract

Revenue managers play a vital role in the hotel industry for maximizing revenues. The hotel industry also understands the importance of revenue managers. However, according to hotel revenue professionals, there is still a lack of qualified revenue managers. The purpose of this case study is to reveal the competencies of a successful hotel revenue manager. To achieve this purpose, an expert interview was done with a successful revenue manager in the Marriott Turkey cluster. It was found out that having good analytical and communication skills were essential to being a successful revenue manager. Understanding the local market and adopting brand standards were vital for effective revenue management.

Keywords

Revenue management Hotels Marriott Turkey Human resources

References

  • Accor. 2015. “2015 Registration Document and Annual Financial Report.” Accor Hotels. 2015. file:///C:/Users/tevfi/Downloads/accor_drf2015_uk.pdf.
  • Anderson, C. K., and X. Xie. 2010. “Improving Hospitality Industry Sales: Twenty-Five Years of Revenue Management.” Cornell Hospitality Quarterly 51 (1): 53–67. https://doi.org/10.1177/1938965509354697.
  • Beck, Jeffrey, Bonnie Knutson, Jaemin Cha, and Seunghyun Kim. 2011. “Developing Revenue Managers for the Lodging Industry.” Journal of Human Resources in Hospitality and Tourism 10 (2): 182–94. https://doi.org/10.1080/15332845.2011.536941.
  • Çakar, Kadir, and Şehmus Aykol. 2021. “Case Study as a Research Method in Hospitality and Tourism Research: A Systematic Literature Review (1974–2020).” Cornell Hospitality Quarterly 62 (1): 21–31.
  • Carroll, Bill, and Judy Siguaw. 2003. “The Evolution of Electronic Distribution: Effects on Hotels and Intermediaries.” Cornell Hotel and Restaurant Administration Quarterly. https://doi.org/10.1016/S0010-8804(03)90257-6.
  • Cetin, G., T. Demirciftci, and A. Bilgihan. n.d. “Meeting Revenue Management Challenges: Knowledge, Skills and Abilities.” International Journal of Hospitality Management 57: 132–42. https://doi.org/10.1016/j.ijhm.2016.06.008.
  • Chiang, Wen-Chyuan, Jason C H Chen, and Xiaojing Xu. 2006. “An Overview of Research on Revenue Management: Current Issues and Future Research.” International Journal of Revenue Management 1 (1): 97–128.
  • Davies, Cameron J, and Mark Shafer. 2013. “Building the Perfect Analytics Analyst: What Will It Take to Succeed in the Future?” Journal of Revenue and Pricing Management 12 (4): 378–81. https://doi.org/10.1057/rpm.2012.45.
  • Demirciftci, Tevfik, Amanda Belarmino, Chih-Chien Chen, and Gurel Cetin. 2021. “Understanding the Gap between University Revenue Management Courses and the Job Market.” Journal of Hospitality & Tourism Education, January, 1–12. https://doi.org/10.1080/10963758.2020.1868318.
  • Demirciftci, Tevfik, Gurel Cetin, and Anil Bilgihan. 2017. “Coping with RM Challenges in Hospitality Education.” Journal of Revenue and Pricing Management, no. March. https://doi.org/10.1057/s41272-017-0086-0.
  • GoTurkey Tourism. 2021. “GoTurkey Tourism.” GoTurkey Tourism. 2021. https://www.goturkeytourism.com/things-to-do/10-historical-landmarks-to-see-in-istanbul.html.
  • GoTurkeyTourism. 2021. “Turkey’s Geographical Regions.” GoTurkeyTourism. 2021. https://www.goturkeytourism.com/about-turkey/about-turkey.html.
  • Hallin, Carina Antonia, and Einar Marnburg. 2008. “Knowledge Management in the Hospitality Industry: A Review of Empirical Research.” Tourism Management 29 (2): 366–81.
  • Hinterhuber, Andreas, and Stephan Liozu. 2012. “Is It Time to Rethink Your Pricing Strategy?” MIT Sloan Management Review 53 (4): 69–77.
  • Hormby, Sharon, Julia Morrison, Prashant Dave, Michele Meyers, and Tim Tenca. 2010. “Marriott International Increases Revenue by Implementing a Group Pricing Optimizer.” Interfaces 40 (1): 47–57.
  • Koupriouchina, Larissa, Jean-Pierre van der Rest, and Xuan Lorna Wang. 2015. “Revenue Management Education (RevME), 30 April–2 May 2015, University of Delaware, USA.” Journal of Revenue and Pricing Management 14 (5): 384–88.
  • Lancaster, John. 2003. “The Financial Risk of Airline Revenue Management.” Journal of Revenue and Pricing Management 2 (2): 158–65.
  • Legohérel, Patrick, Alan Fyall, and Elisabeth Poutier. 2013. “The Role of Revenue Manager.” In Revenue Management for Hospitality and Tourism, edited by Patrick Legohérel,
  • Alan Fyall, and Elisabeth Poutier, 1st ed., 37–53. Oxford: Goodfellow Publishers Limited.
  • Marriott. 2021a. “2020 Annual Report.” https://marriott.gcs-web.com/static-files/c5e1faef-f1e5-40e3-bd70-5efbbb929a7f. ———. 2021b. “Explore Our Brands.” Marriott International. 2021. https://www.marriott.com/marriott-brands.mi.
  • Marriott Sisli. 2018. “Revenue Management Above Property Leader of the Year.” Facebook. 2018. https://www.linkedin.com/feed/update/urn:li:activity:6379751140610965505/.
  • McGuire, Kelly A. 2016. Hotel Pricing in a Social World Driving Value in Digital Economy. Hoboken: Wiley.
  • Meuser, Michael, and Ulrike Nagel. 2009. “The Expert Interview and Changes in Knowledge Production.” In Interviewing Experts, 17–42. Springer.
  • Overby, Stephanie. 2005. “The Price Is Always Right.” CIO Magazine, no. February 15: 40.
  • Skugge, Göran. 2004. “Growing Effective Revenue Managers.” Journal of Revenue & Pricing Management 3 (1): 49–61. https://doi.org/10.1057/palgrave.rpm.5170093.
  • Tranter, Kimberly A, Trevor Stuart-Hill, and Juston Parker. 2009. An Introduction to Revenue Management for the Hospitality Industry: Principles and Practices for the Real World. 1st ed. Upper Saddle River, NJ: Pearson.
  • Wang, Xuan Lorna, Cindy Yoonjoung Heo, Zvi Schwartz, Patrick Legohérel, and Frédéric Specklin. 2015. “Revenue Management: Progress, Challenges, and Research Prospects.” Journal of Travel & Tourism Marketing 32 (7): 797–811. https://doi.org/10.1080/10548408.2015.1063798.
  • World Data Info. 2021. “Tourism in Turkey.” WorldData. 2021. https://www.worlddata.info/asia/turkey/tourism.php.
  • Yeoman, Ian, and Sandra Watson. 1997. “Yield Management: A Human Activity System.” International Journal of Contemporary Hospitality Management 9 (2): 80–83. https://doi.org/10.1108/09596119710164821.

Year 2022, Volume: 8 Issue: 1, 1 - 11, 30.06.2022

Tevfik Demirciftci

https://doi.org/10.26650/jot.2022.8.1.1038134

Abstract

References

  • Accor. 2015. “2015 Registration Document and Annual Financial Report.” Accor Hotels. 2015. file:///C:/Users/tevfi/Downloads/accor_drf2015_uk.pdf.
  • Anderson, C. K., and X. Xie. 2010. “Improving Hospitality Industry Sales: Twenty-Five Years of Revenue Management.” Cornell Hospitality Quarterly 51 (1): 53–67. https://doi.org/10.1177/1938965509354697.
  • Beck, Jeffrey, Bonnie Knutson, Jaemin Cha, and Seunghyun Kim. 2011. “Developing Revenue Managers for the Lodging Industry.” Journal of Human Resources in Hospitality and Tourism 10 (2): 182–94. https://doi.org/10.1080/15332845.2011.536941.
  • Çakar, Kadir, and Şehmus Aykol. 2021. “Case Study as a Research Method in Hospitality and Tourism Research: A Systematic Literature Review (1974–2020).” Cornell Hospitality Quarterly 62 (1): 21–31.
  • Carroll, Bill, and Judy Siguaw. 2003. “The Evolution of Electronic Distribution: Effects on Hotels and Intermediaries.” Cornell Hotel and Restaurant Administration Quarterly. https://doi.org/10.1016/S0010-8804(03)90257-6.
  • Cetin, G., T. Demirciftci, and A. Bilgihan. n.d. “Meeting Revenue Management Challenges: Knowledge, Skills and Abilities.” International Journal of Hospitality Management 57: 132–42. https://doi.org/10.1016/j.ijhm.2016.06.008.
  • Chiang, Wen-Chyuan, Jason C H Chen, and Xiaojing Xu. 2006. “An Overview of Research on Revenue Management: Current Issues and Future Research.” International Journal of Revenue Management 1 (1): 97–128.
  • Davies, Cameron J, and Mark Shafer. 2013. “Building the Perfect Analytics Analyst: What Will It Take to Succeed in the Future?” Journal of Revenue and Pricing Management 12 (4): 378–81. https://doi.org/10.1057/rpm.2012.45.
  • Demirciftci, Tevfik, Amanda Belarmino, Chih-Chien Chen, and Gurel Cetin. 2021. “Understanding the Gap between University Revenue Management Courses and the Job Market.” Journal of Hospitality & Tourism Education, January, 1–12. https://doi.org/10.1080/10963758.2020.1868318.
  • Demirciftci, Tevfik, Gurel Cetin, and Anil Bilgihan. 2017. “Coping with RM Challenges in Hospitality Education.” Journal of Revenue and Pricing Management, no. March. https://doi.org/10.1057/s41272-017-0086-0.
  • GoTurkey Tourism. 2021. “GoTurkey Tourism.” GoTurkey Tourism. 2021. https://www.goturkeytourism.com/things-to-do/10-historical-landmarks-to-see-in-istanbul.html.
  • GoTurkeyTourism. 2021. “Turkey’s Geographical Regions.” GoTurkeyTourism. 2021. https://www.goturkeytourism.com/about-turkey/about-turkey.html.
  • Hallin, Carina Antonia, and Einar Marnburg. 2008. “Knowledge Management in the Hospitality Industry: A Review of Empirical Research.” Tourism Management 29 (2): 366–81.
  • Hinterhuber, Andreas, and Stephan Liozu. 2012. “Is It Time to Rethink Your Pricing Strategy?” MIT Sloan Management Review 53 (4): 69–77.
  • Hormby, Sharon, Julia Morrison, Prashant Dave, Michele Meyers, and Tim Tenca. 2010. “Marriott International Increases Revenue by Implementing a Group Pricing Optimizer.” Interfaces 40 (1): 47–57.
  • Koupriouchina, Larissa, Jean-Pierre van der Rest, and Xuan Lorna Wang. 2015. “Revenue Management Education (RevME), 30 April–2 May 2015, University of Delaware, USA.” Journal of Revenue and Pricing Management 14 (5): 384–88.
  • Lancaster, John. 2003. “The Financial Risk of Airline Revenue Management.” Journal of Revenue and Pricing Management 2 (2): 158–65.
  • Legohérel, Patrick, Alan Fyall, and Elisabeth Poutier. 2013. “The Role of Revenue Manager.” In Revenue Management for Hospitality and Tourism, edited by Patrick Legohérel,
  • Alan Fyall, and Elisabeth Poutier, 1st ed., 37–53. Oxford: Goodfellow Publishers Limited.
  • Marriott. 2021a. “2020 Annual Report.” https://marriott.gcs-web.com/static-files/c5e1faef-f1e5-40e3-bd70-5efbbb929a7f. ———. 2021b. “Explore Our Brands.” Marriott International. 2021. https://www.marriott.com/marriott-brands.mi.
  • Marriott Sisli. 2018. “Revenue Management Above Property Leader of the Year.” Facebook. 2018. https://www.linkedin.com/feed/update/urn:li:activity:6379751140610965505/.
  • McGuire, Kelly A. 2016. Hotel Pricing in a Social World Driving Value in Digital Economy. Hoboken: Wiley.
  • Meuser, Michael, and Ulrike Nagel. 2009. “The Expert Interview and Changes in Knowledge Production.” In Interviewing Experts, 17–42. Springer.
  • Overby, Stephanie. 2005. “The Price Is Always Right.” CIO Magazine, no. February 15: 40.
  • Skugge, Göran. 2004. “Growing Effective Revenue Managers.” Journal of Revenue & Pricing Management 3 (1): 49–61. https://doi.org/10.1057/palgrave.rpm.5170093.
  • Tranter, Kimberly A, Trevor Stuart-Hill, and Juston Parker. 2009. An Introduction to Revenue Management for the Hospitality Industry: Principles and Practices for the Real World. 1st ed. Upper Saddle River, NJ: Pearson.
  • Wang, Xuan Lorna, Cindy Yoonjoung Heo, Zvi Schwartz, Patrick Legohérel, and Frédéric Specklin. 2015. “Revenue Management: Progress, Challenges, and Research Prospects.” Journal of Travel & Tourism Marketing 32 (7): 797–811. https://doi.org/10.1080/10548408.2015.1063798.
  • World Data Info. 2021. “Tourism in Turkey.” WorldData. 2021. https://www.worlddata.info/asia/turkey/tourism.php.
  • Yeoman, Ian, and Sandra Watson. 1997. “Yield Management: A Human Activity System.” International Journal of Contemporary Hospitality Management 9 (2): 80–83. https://doi.org/10.1108/09596119710164821.
There are 29 citations in total.

Details

Primary Language English
Journal Section Articles
Authors

Tevfik Demirciftci 0000-0002-3706-2147

Publication Date June 30, 2022
Submission Date December 18, 2021
Published in Issue Year 2022 Volume: 8 Issue: 1

Cite

APA Demirciftci, T. (2022). How To Be a Successful Revenue Manager: A Case from the Marriott Turkey Cluster. Journal of Tourismology, 8(1), 1-11. https://doi.org/10.26650/jot.2022.8.1.1038134
AMA Demirciftci T. How To Be a Successful Revenue Manager: A Case from the Marriott Turkey Cluster. Journal of Tourismology. June 2022;8(1):1-11. doi:10.26650/jot.2022.8.1.1038134
Chicago Demirciftci, Tevfik. “How To Be a Successful Revenue Manager: A Case from the Marriott Turkey Cluster”. Journal of Tourismology 8, no. 1 (June 2022): 1-11. https://doi.org/10.26650/jot.2022.8.1.1038134.
EndNote Demirciftci T (June 1, 2022) How To Be a Successful Revenue Manager: A Case from the Marriott Turkey Cluster. Journal of Tourismology 8 1 1–11.
IEEE T. Demirciftci, “How To Be a Successful Revenue Manager: A Case from the Marriott Turkey Cluster”, Journal of Tourismology, vol. 8, no. 1, pp. 1–11, 2022, doi: 10.26650/jot.2022.8.1.1038134.
ISNAD Demirciftci, Tevfik. “How To Be a Successful Revenue Manager: A Case from the Marriott Turkey Cluster”. Journal of Tourismology 8/1 (June 2022), 1-11. https://doi.org/10.26650/jot.2022.8.1.1038134.
JAMA Demirciftci T. How To Be a Successful Revenue Manager: A Case from the Marriott Turkey Cluster. Journal of Tourismology. 2022;8:1–11.
MLA Demirciftci, Tevfik. “How To Be a Successful Revenue Manager: A Case from the Marriott Turkey Cluster”. Journal of Tourismology, vol. 8, no. 1, 2022, pp. 1-11, doi:10.26650/jot.2022.8.1.1038134.
Vancouver Demirciftci T. How To Be a Successful Revenue Manager: A Case from the Marriott Turkey Cluster. Journal of Tourismology. 2022;8(1):1-11.
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