An Empirical Research On Hotel Revenue Management Performance Influencing Factors

In recent years,revenue management(RM)has gradually attracted extensive attention of the hotel managers and academic researchers because of its great contribution to increasing hotel revenue and profits in China.As the short development period of hotel industry in China,the introduction and applications of hotel RM are seriously lagging behind the developed countries.The domestic existing research on hotel RM is too weak to lead industry practice,especially hotel RM performance research.The relevant few literatures measured hotel RM performance from manager perception,which was lack of objectivity.Limited research fails to help Chinese hotel industry get out of the operation predicament and improve performance.This paper mainly focuses on the three star and above grade of hotels throughout China,deeply analyzing the RM application among them and discussing the influencing factors of China hotel RM performance.In the current background of deepening reform and economic transformation in China,based on the relevant research literature home and abroad nearly the last three decades,this paper tries to construct a conceptual model of hotel RM performance influencing factors.According to the investigation and statistics,this paper verifies and modifies the hypothesis model by structural equation model(SEM),then obtains the research results and puts forward some management suggestions.This paper mainly concludes:(1)hotel quality attributes which contain hotel scale,star rating,owner type and management company type have no significant effect on hotel RM performance;(2)technical drivers which include pricing and non-pricing factors have significant positive impact on RM performance,and the impact of pricing factors is the most intense;(3)organizational drivers including organizational support,manager quality,assessment & incentive and RM training have positive impact on RM performance,second only to pricing factors;(4)organizational drivers have significant impact on technical drivers.Based on the above conclusions,this paper puts forward the following management suggestions:(1)strengthen the integration of hotel RM concept and practice;(2)accelerate overall hotel RM;(3)improve pricing technical ability and adjust the marketing strategy;(4)pay attention to non-pricing technical ability and focus on customer satisfaction;(5)enhance organizational support to promoting the harmony and progress of people and organization.Finally,the innovations of this paper show as:(1)it is the first study using financial indicators to evaluate China‘s hotel RM performance and also the first time trying to construct influencing factors hypothesis model of China‘s hotel RM performance.(2)hypothesis model is texted and modified by SEM,which is a more scientific research method.(3)the indicators selected are more objective compared with the previous research.This study enriches the research of hotel RM theoretically and fits into the theme of the current hotel industry which is seeking benefits practically.This paper will have a certain contribution to strengthening the understanding and application of hotel RM.