Revenue Management - current status and prospects for further development in the hotel industry

This doctoral dissertation thesis focuses on current turnover management following principles of Revenue management in the field of hospitality in the Czech Republic. Final part of the thesis offers also prognosis of future development. The goal is to introduce Revenue management as an economic and management approach to direction of accommodation establishments, which maximize turnover. It uses optimum recovery ratio of accommodation capacity in combination with maximum average rate and price per available room, leading to optimization of economic results (when costs adequately controlled). It is a very complex theme which surpasses the capacity of this thesis. Therefore, the author chose a few segments with important influence on key economic indicators of accommodation establishments and where the initial optimum strategic settings are very important. These segments were examined both theoretically and practically. The author defines key terms using Czech and foreign literature, her own training materials and structured interviews with revenue/hotel managers. Several questionnaires, foreign case studies and personal experience of revenue management techniques implementation in accommodation establishments in the Czech Republic were used in the period from 2013 till 2016 as supporting materials for the practical part of the thesis. Results show that Revenue management has developed and requirements for the third generation of revenue managers are on the same level as for the top management. Czech accommodation establishments have, in comparison with western world or international chains, still room for improvement. The situation improves also in regions thanks to strong enlightenment and necessary reaction to strong competition and difficult economic conditions. Research shows that the best practice combines adequate modern technologies with well-trained and experienced human resources. Results point out room for further development of research in the field of Revenue management techniques usage, not only for hospitality services, but also for the field of tourism generally