Hilton interview question

What is Revenue Management?

Interview Answer

Anonymous

Sep 26, 2015

My understanding of revenue management is when the price of a fixed good is adjusted to reflect that goods impending "perishability" - such as an airplane seat on a departing flight, a hotel room for that evening, etc. Also, adjusting price as it relates to inventory that will be effected by supply/demand, for example the price of an airline seat on the Wed. before Thanksgiving, or a hotel room in Paris on New Years Eve.