Next week Breffni Noone, Associate Professor, The Pennsylvania State University and I will be hosting a discussion at the Cornell Hospitality Research Summit on how user generated content impacts the purchase choices of the unmanaged business traveler. The discussion will take place on Monday October 13 at 2:15pm in Statler 396.
By Cathy Enz, PhD., Lewis G. Schaeneman, Jr. Professor of Innovation & Dynamic Management, Cornell School of Hotel Administration. It seems that everyone loves to talk about innovation these days, but sadly the overuse of the word to describe minor tweaks and ordinary activities has turned it into a confusing
With the growing popularity and availability of online reviews and ratings, consumers have more information than ever before when purchasing a hotel stay. In order to build effective pricing and positioning strategies, hotel managers need to understand how consumers are using all of this user generated content with price to
Over the last few posts, Lee Ann has been exploring how to marry business strategy with day to day pricing decisions. This week, I’m going to take this discussion in another direction by describing how pricing decisions are made, and the importance of strategic pricing in another industry – sports.
Last week in my post, Revenue Management vs. Price Optimization: Part One, I explored the practice of practice of hospitality revenue management, its origins in the airlines and how it was changed for use in the hospitality industry. This week I will explore how price optimization has evolved and how
Here at the Analytic Hospitality Executive, we are often asked the question “How is price optimization different from revenue management?” It’s a simple question that has become increasingly difficult to answer – largely due to the evolution of revenue management practices, and the very definition of revenue management. In this