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Social media meets hotel revenue management: Opportunities, issues and unanswered questions
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In this article, a framework for evaluating social media-related revenue management opportunities, discuss the issues associated with leveraging these opportunities, and propose a roadmap for future research in this area.Abstract:
Hotel companies are struggling to keep up with the rapid consumer adoption of social media. Although many companies have begun to develop social media programs, the industry has yet to fully explore the potential of this emerging data and communication resource. The revenue management department, as it evolves from tactical inventory management to a more expansive role across the organization, is poised to be an early adopter of the opportunities afforded by social media. We propose a framework for evaluating social media-related revenue management opportunities, discuss the issues associated with leveraging these opportunities and propose a roadmap for future research in this area.read more
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Social media in tourism and hospitality : a literature review
TL;DR: In this article, the role and use of social media in travelers' decision-making and in tourism operations and management have been widely discussed in tourism and hospitality research, and the authors reviewed and analyzed all extant social media-related research articles published in academic journals during 2007 to 2011.
Journal ArticleDOI
Hospitality and Tourism Online Reviews: Recent Trends and Future Directions
TL;DR: In view of the increasing popularity of online reviews and their significant impact on individual buying behavior as well as on the supply side, this paper reviewed and analyzed articles related to online reviews in tourism and hospitality published in academic journals between 2004 and 2013.
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Spreading Social Media Messages on Facebook: An Analysis of Restaurant Business-to-Consumer Communications
Linchi Kwok,Bei Yu +1 more
TL;DR: The guidelines developed here should help managers improve their use of Facebook and provide groundwork for developing a defined typology of Facebook messages and an automatic text classifier with the machine learning techniques.
Journal ArticleDOI
The influence of e-word-of-mouth on hotel occupancy rate
TL;DR: In this paper, the authors investigated the relationship between online consumer reviews and occupancy in a heterogeneous sample of hotels and found that a one-point increase in the review score is associated with an increase in hotel occupancy rate by 7.5 percentage points.
References
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Journal ArticleDOI
The Commitment-Trust Theory of Relationship Marketing
Robert Morgan,Shelby D. Hunt +1 more
TL;DR: Relationship marketing, established, developing, and maintaining successful relational exchanges, constitutes a major shift in marketing theory and practice as mentioned in this paper, after conceptualizing relationship relationships as a set of relationships.
Journal ArticleDOI
Users of the world, unite! The challenges and opportunities of Social Media
TL;DR: A classification of Social Media is provided which groups applications currently subsumed under the generalized term into more specific categories by characteristic: collaborative projects, blogs, content communities, social networking sites, virtual game worlds, and virtual social worlds.
Journal ArticleDOI
The different roles of satisfaction, trust, and commitment in customer relationships
Ellen Garbarino,Mark S. Johnson +1 more
TL;DR: Several theories of relationship marketing propose that customers vary in their relationships with a firm on a continuum from transactional to highly relational bonds as discussed by the authors, but few empirical studies have been conducted.
Journal ArticleDOI
Restaurant Revenue Management: Applying Yield Management to the Restaurant Industry
TL;DR: The crucial element in a strategy for boosting restaurant revenues may be to relate prices to the length of time guests spend at the table as discussed by the authors. But, as the Witch of the West told Dorothy, the issue is how to do it.