Revenue management implementation to a small-scale start-up accommodation business

In today's market and competition conditions, many businesses are implementing revenue management to be able to maximize their income and profitability. Especially in the services sector, which has a fixed capacity and flexible demand, revenue management provide lots of benefits like revenue growth and the accommodation sector is one of the sectors where revenue management is often used. Revenue management implementations are often observed in large-scale chain hotels. Also, in literature there exists studies for implementing revenue management systems for middle and large sized hotels, which already operate for long periods of time. On the other hand, in this study, a new revenue management model was developed, inspired by the existing revenue management models in the literature, for a small-scale start-up hotel with 39 rooms. The model, which was developed based on hotel's data and features, has started to be implemented step by step in the hotel. The model, whose implementation has not yet been completed, has being tested on the assumption that what if the developed revenue management model was implemented with the existing room sales figures. In the applied test, it has been seen that even though the average daily number of rooms needed to be sold to reach the target profit was calculated as 20; with the current reservation system, the hotel has been selling 16 rooms each day. But with suggested revenue management system in this thesis, the hotel is going to be able to reach the target revenue with the current number of room sales which is 16.