Why is the revenue manager important in the hospitality industry?

Anonymous
timer Asked: Nov 6th, 2015
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Question Description

Why is the revenue manager important in the hospitality industry?  Should a revenue manager be a person of high ethical standards?  Why or why not?

Tutor Answer

ipesuni
School: Boston College

Thank you for the opportunity to help you with your question!

Revenue manager looks to drive higher profitability,revenue and margins for the entire company.

The focus has shifted from analyst to strategist as the need for proactive revenue management is a function vital to the health and growth of the organization.

a)The revenue manager seeks to provide the right services to the customer at the right place and time.

b)Due to transport variable pricing the importance of revenue manager cannot be ignored because  hospital patients are often charged based on the services they receive (blood test, MRI scan, etc.) and the doctor’s time spent on the patient.How much the patient pay is fairly predictable.

c)Due to low competition in the hospital industry profit can be generated through speedy customer service and this can be provided by revenue manager.

d)Revenue manager helps to forecast or control patients demand as hospital patients only go to the hospital when they are sick.

From the above it is clear that the importance of revenue manager cannot be ignored.

Revenue Manager -A person of high ethical standards:

It is correct to say that the revenue manager must be a person of high ethical standard as on today's world the yield management is gaining importance,so the goal of every industry is to maximize the revenue.If the manager has the capability to deal with the issues properly then only industry can thrive.


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Anonymous
Tutor went the extra mile to help me with this essay. Citations were a bit shaky but I appreciated how well he handled APA styles and how ok he was to change them even though I didnt specify. Got a B+ which is believable and acceptable.

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