Revenue Management in the Golf Industry

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Revenue Management Introduction Over the last several years, a number of firms have been focused on increasing their bottom line results and decreasing costs. This means that there is an emphasis on eliminating areas which can hurt productivity. In the tourism sector, this is taking place through offering special incentives and rewards. However, many of the airlines and hotels hurt themselves by lacking any flexibility in offering customers choices. (McCarty, 2009) (Bouts, 2007) (Hawtree, 1983) To avoid these issues, the golf industry has been working in conjunction with other hospitality providers to maximize their profit margins. At the heart of their strategy, is to concentrate on using revenue management practices. To fully understand what is happening requires: studying how this is impacting the industry's revenue management from an operations and applied business perspective. Together, these elements will highlight the way golf related providers are enhancing their earnings during the process. (McCarty, 2009) (Bouts, 2007) (Hawtree, 1983) Revenue Management from an Operations Perspective Revenue management is when there is a focus on controlling the costs of delivering different services to customers. While at the same time, it is enhancing the experience that everyone is having. The basic idea is to use this as a way to improve the brand image and increase the profit margins. (McCarty, 2009) (Bouts, 2007) (Hawtree, 1983) For example, a golf course
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