Social media meets hotel revenue management: Opportunities, issues and unanswered questions

Social media meets hotel revenue management: Opportunities, issues and unanswered questions

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Article ID: iaor20116855
Volume: 10
Issue: 4
Start Page Number: 293
End Page Number: 305
Publication Date: Jul 2011
Journal: Journal of Revenue and Pricing Management
Authors: , ,
Keywords: social
Abstract:

Hotel companies are struggling to keep up with the rapid consumer adoption of social media. Although many companies have begun to develop social media programs, the industry has yet to fully explore the potential of this emerging data and communication resource. The revenue management department, as it evolves from tactical inventory management to a more expansive role across the organization, is poised to be an early adopter of the opportunities afforded by social media. We propose a framework for evaluating social media‐related revenue management opportunities, discuss the issues associated with leveraging these opportunities and propose a roadmap for future research in this area.

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