Open issues and future directions in revenue management

This research focuses on the current needs and initiatives of practitioners that guide (and are guided by) research agendas, as well as current research efforts that guide (and are guided by) novel revenue management applications. Of particular interest are (1) research directions for analysing and generalising the impacts of new systems that are being implemented by individual competitors and (2) new implementation opportunities, which may lead to competitive advantages. The paper offers a brief review of current knowledge on different components of revenue management systems, accompanied by industry practices and the gaps between the two. Suggestions on future research directions include areas in which the effectiveness of industry practices cannot be generalised by the existing literature.