This case study introduces students to the implementation of a specific revenue management initia... more This case study introduces students to the implementation of a specific revenue management initiative (customer segmentation), based on the charter bus services industry, which consists of providing individual transportation services to different groups that hire buses of multiple capacity for their exclusive use. ESCOT Bus Lines is a charter bus company located in Central Florida; the company is trying to optimize the utilization of its buses and to maximize its revenues. As the first step to achieving these goals, the company must analyze its current business to better understand its customers and its revenue sources with the use of business analytics and descriptive statistics.
ABSTRACT This study employs a conjoint analysis approach to examine consumer preference and willi... more ABSTRACT This study employs a conjoint analysis approach to examine consumer preference and willingness to pay for the vacation ownership (timeshare) product. The study focuses on attributes that have been classified as negative attributes during the sales process to determine if the anticipated effect of reductions in preference and willingness to pay are supported. With a sample size of 3,200 respondents familiar with the timeshare product, the findings challenge contemporary literature that suggests purchase incentives negatively impact consumer preference and willingness to pay.
Legoherel, P., Poutier, E. & Fyall, A. (Eds.) (2013). Revenue Management for Hospitality &... more Legoherel, P., Poutier, E. & Fyall, A. (Eds.) (2013). Revenue Management for Hospitality & Tourism. Woodeaton Oxford: Goodfellow Publishers Ltd. ISBN: 978-1 -908999-49-8. 255 pp.For many years revenue management has developed as an integral part of the successful tourism services management. Due to the heterogeneous nature of the industries comprising the tourism industry, it is difficult to analyse the application of revenue management in tourism/hospitality as a whole. In this regard, "Revenue Management for Hospitality & Tourism", edited by Patrick Legoherel, Elisabeth Poutier & Alan Fyall, appears as an excellent source, which encompasses 17 chapters devoted to revenue management application in the diverse parts of tourism and hospitality. With the broad theoretical overview it provides, backed up with suitable practical examples in the specific context of each of the industries, the book can be considered as a fundamental step for studying and researching revenue management in tourism and hospitality.The book is organised into two main parts. The first part deals with the general concept of revenue management (RM), clarifies theoretical background and outlines components of RM system, while the second part is devoted to different aspects of revenue management in all types of tourism industries - hotels, airlines, car rental, theme parks, heritage attractions, time share, etc.The first part consists of 5 chapters, all them presented by the editors themselves. They introduce readers in the revenue management, provide brief historical background and recognise the strategic necessity of using RM as a continuous process throughout the whole company (Chapter 1). Many practical examples illustrate successful application of revenue management practices in various service sectors. A full theoretical explanation follows in the next chapters (Chapters 2, 3 and 4), examining key RM components, the role of the revenue manager and the holistic revenue management approach. In Chapter 5 is demonstrated how to integrate all parts into an usable and reliable revenue management system.With Chapter 6 by SS Padhi ('Revenue management for fixing quotas and prices of perishable commodities under uncertainty') begins the second section of the book. The author proposes a model aimed at facilitating decision making in uncertain price conditions, using artificial neural network, analytic hierarchy process and goal programming approaches. In Chapter 7 Larry Yu and Huimin Gu analyse the revenue management instruments used by Chinese hoteliers and provide recommendations on overcoming challenges.Restaurant revenue management is the subject of Chapter 8. Cindy Heo refers to restaurant business as non-traditional for revenue management. Capacity and duration of services are the two most important business characteristics that make restaurant RM unique. The chapter further discusses the menu management, price management and customer perception management.Chapter 9 brings to discussion RM at heritage visitor attractions. The author (Anna Leask) critically analyses the challenges for adopting RM in this sector in terms of involvement of various stakeholders, conservation and commercialisation of heritage, lack of reliable and opulent market data. On the basis of a single case study of National Trust of Scotland, the author presents opportunities for heritage visitor attractions to improve and expand their revenue management practices.Theme parks emerge as a comparatively new industry, which is often overlooked by researchers, but their rapid development deserved the attention of Ad y Milman and Kelly Kaak (Chapter 10 - Theme parks revenue management'). Admission fees are the most important source of revenues in theme parks, followed by food and drink, merchandise and game, so revenue management efforts are focused mainly on using appropriate pricing strategies, e. …
This study aims to investigate the differential effects of determinants of satisfaction on subseq... more This study aims to investigate the differential effects of determinants of satisfaction on subsequent electronic word-of-mouth (eWOM) behavior in the sharing economy with peer-to-peer accommodations and timeshares. Data were collected from consumers who stayed at either a timeshare or peer-to-peer accommodation within the previous year (N = 785). Structural equation modeling was used to test the relationship between the determinants and eWOM through satisfaction, followed by multiple-group comparison to examine the moderating effect of accommodation type. The results indicated that amenities, economic benefits, and trust demonstrated an indirect effect on eWOM behavior through satisfaction, but community belonging affected eWOM behavior directly. Multiple-group SEM revealed that accommodation type moderated the indirect effects of community belonging, economic benefits, and trust on eWOM behavior, such that the indirect effect was significant only for timeshare accommodations. This ...
The ongoing pursuit of understanding how consumers’ expectations can be achieved or exceeded has ... more The ongoing pursuit of understanding how consumers’ expectations can be achieved or exceeded has long been an area of interest for academics and practitioners alike. A multitude of measures of satisfaction have been developed, applied, and adopted with the end goal of understanding how satisfied individuals, or groups of individuals, are with a given product, service, or specific attribute of a product. And, while both academic and practical research has identified and focused on explicit attributes relevant to particular products or services, the general consensus appears to support the thinking that higher satisfaction is better. But this may not hold true when one considers that not all attributes are equal in terms of their effect on overall customer satisfaction or that different customer segments may value product attributes differently. From this premise, the current research proposes a model that may be used to classify product and process attributes within the services indu...
The luxury timeshare segment of the larger lodging industry merits further investigation due to t... more The luxury timeshare segment of the larger lodging industry merits further investigation due to the customer/owner relationship. This study uses a quantitative case study, and supported the relationship between satisfaction, value and loyalty. The study revealed the need for significant improvement in the resolution of service problems. The study is limited in that it studies the units of one company and thus calls for additional satisfaction and loyalty studies for this unique niche.
Purpose Although much satisfaction research examines the role of demographics, few examine the ph... more Purpose Although much satisfaction research examines the role of demographics, few examine the phenomena of family cohesion or travel party composition and the role they play in influencing satisfaction. Therefore, the purpose of this paper is to leverage the two to further understand satisfaction. Design/methodology/approach Data from 400 vacationing families were analyzed to examine the factors of family cohesion, activity satisfaction and overall vacation satisfaction. Findings Contrary to previous research, the results suggest that family cohesion is comprised of two primary factors: emotional bonding and decision making, family boundaries and coalitions. The findings suggest that family cohesion and activity satisfaction contributed to overall vacation satisfaction. However, as an addition to extant research, the findings demonstrate that travel party size moderated this relationship. Research limitations/implications This research challenges findings of extant research on fami...
This case study introduces students to the implementation of a specific revenue management initia... more This case study introduces students to the implementation of a specific revenue management initiative (customer segmentation), based on the charter bus services industry, which consists of providing individual transportation services to different groups that hire buses of multiple capacity for their exclusive use. ESCOT Bus Lines is a charter bus company located in Central Florida; the company is trying to optimize the utilization of its buses and to maximize its revenues. As the first step to achieving these goals, the company must analyze its current business to better understand its customers and its revenue sources with the use of business analytics and descriptive statistics.
ABSTRACT This study employs a conjoint analysis approach to examine consumer preference and willi... more ABSTRACT This study employs a conjoint analysis approach to examine consumer preference and willingness to pay for the vacation ownership (timeshare) product. The study focuses on attributes that have been classified as negative attributes during the sales process to determine if the anticipated effect of reductions in preference and willingness to pay are supported. With a sample size of 3,200 respondents familiar with the timeshare product, the findings challenge contemporary literature that suggests purchase incentives negatively impact consumer preference and willingness to pay.
Legoherel, P., Poutier, E. & Fyall, A. (Eds.) (2013). Revenue Management for Hospitality &... more Legoherel, P., Poutier, E. & Fyall, A. (Eds.) (2013). Revenue Management for Hospitality & Tourism. Woodeaton Oxford: Goodfellow Publishers Ltd. ISBN: 978-1 -908999-49-8. 255 pp.For many years revenue management has developed as an integral part of the successful tourism services management. Due to the heterogeneous nature of the industries comprising the tourism industry, it is difficult to analyse the application of revenue management in tourism/hospitality as a whole. In this regard, "Revenue Management for Hospitality & Tourism", edited by Patrick Legoherel, Elisabeth Poutier & Alan Fyall, appears as an excellent source, which encompasses 17 chapters devoted to revenue management application in the diverse parts of tourism and hospitality. With the broad theoretical overview it provides, backed up with suitable practical examples in the specific context of each of the industries, the book can be considered as a fundamental step for studying and researching revenue management in tourism and hospitality.The book is organised into two main parts. The first part deals with the general concept of revenue management (RM), clarifies theoretical background and outlines components of RM system, while the second part is devoted to different aspects of revenue management in all types of tourism industries - hotels, airlines, car rental, theme parks, heritage attractions, time share, etc.The first part consists of 5 chapters, all them presented by the editors themselves. They introduce readers in the revenue management, provide brief historical background and recognise the strategic necessity of using RM as a continuous process throughout the whole company (Chapter 1). Many practical examples illustrate successful application of revenue management practices in various service sectors. A full theoretical explanation follows in the next chapters (Chapters 2, 3 and 4), examining key RM components, the role of the revenue manager and the holistic revenue management approach. In Chapter 5 is demonstrated how to integrate all parts into an usable and reliable revenue management system.With Chapter 6 by SS Padhi ('Revenue management for fixing quotas and prices of perishable commodities under uncertainty') begins the second section of the book. The author proposes a model aimed at facilitating decision making in uncertain price conditions, using artificial neural network, analytic hierarchy process and goal programming approaches. In Chapter 7 Larry Yu and Huimin Gu analyse the revenue management instruments used by Chinese hoteliers and provide recommendations on overcoming challenges.Restaurant revenue management is the subject of Chapter 8. Cindy Heo refers to restaurant business as non-traditional for revenue management. Capacity and duration of services are the two most important business characteristics that make restaurant RM unique. The chapter further discusses the menu management, price management and customer perception management.Chapter 9 brings to discussion RM at heritage visitor attractions. The author (Anna Leask) critically analyses the challenges for adopting RM in this sector in terms of involvement of various stakeholders, conservation and commercialisation of heritage, lack of reliable and opulent market data. On the basis of a single case study of National Trust of Scotland, the author presents opportunities for heritage visitor attractions to improve and expand their revenue management practices.Theme parks emerge as a comparatively new industry, which is often overlooked by researchers, but their rapid development deserved the attention of Ad y Milman and Kelly Kaak (Chapter 10 - Theme parks revenue management'). Admission fees are the most important source of revenues in theme parks, followed by food and drink, merchandise and game, so revenue management efforts are focused mainly on using appropriate pricing strategies, e. …
This study aims to investigate the differential effects of determinants of satisfaction on subseq... more This study aims to investigate the differential effects of determinants of satisfaction on subsequent electronic word-of-mouth (eWOM) behavior in the sharing economy with peer-to-peer accommodations and timeshares. Data were collected from consumers who stayed at either a timeshare or peer-to-peer accommodation within the previous year (N = 785). Structural equation modeling was used to test the relationship between the determinants and eWOM through satisfaction, followed by multiple-group comparison to examine the moderating effect of accommodation type. The results indicated that amenities, economic benefits, and trust demonstrated an indirect effect on eWOM behavior through satisfaction, but community belonging affected eWOM behavior directly. Multiple-group SEM revealed that accommodation type moderated the indirect effects of community belonging, economic benefits, and trust on eWOM behavior, such that the indirect effect was significant only for timeshare accommodations. This ...
The ongoing pursuit of understanding how consumers’ expectations can be achieved or exceeded has ... more The ongoing pursuit of understanding how consumers’ expectations can be achieved or exceeded has long been an area of interest for academics and practitioners alike. A multitude of measures of satisfaction have been developed, applied, and adopted with the end goal of understanding how satisfied individuals, or groups of individuals, are with a given product, service, or specific attribute of a product. And, while both academic and practical research has identified and focused on explicit attributes relevant to particular products or services, the general consensus appears to support the thinking that higher satisfaction is better. But this may not hold true when one considers that not all attributes are equal in terms of their effect on overall customer satisfaction or that different customer segments may value product attributes differently. From this premise, the current research proposes a model that may be used to classify product and process attributes within the services indu...
The luxury timeshare segment of the larger lodging industry merits further investigation due to t... more The luxury timeshare segment of the larger lodging industry merits further investigation due to the customer/owner relationship. This study uses a quantitative case study, and supported the relationship between satisfaction, value and loyalty. The study revealed the need for significant improvement in the resolution of service problems. The study is limited in that it studies the units of one company and thus calls for additional satisfaction and loyalty studies for this unique niche.
Purpose Although much satisfaction research examines the role of demographics, few examine the ph... more Purpose Although much satisfaction research examines the role of demographics, few examine the phenomena of family cohesion or travel party composition and the role they play in influencing satisfaction. Therefore, the purpose of this paper is to leverage the two to further understand satisfaction. Design/methodology/approach Data from 400 vacationing families were analyzed to examine the factors of family cohesion, activity satisfaction and overall vacation satisfaction. Findings Contrary to previous research, the results suggest that family cohesion is comprised of two primary factors: emotional bonding and decision making, family boundaries and coalitions. The findings suggest that family cohesion and activity satisfaction contributed to overall vacation satisfaction. However, as an addition to extant research, the findings demonstrate that travel party size moderated this relationship. Research limitations/implications This research challenges findings of extant research on fami...
International Journal of Contemporary Hospitality Management
Purpose This study aims to take advantage of segment reporting to provide empirical evidence on t... more Purpose This study aims to take advantage of segment reporting to provide empirical evidence on the impacts of increasing the share of revenue generated from the timeshare segment in companies’ portfolios for firm value and profitability. Design/methodology/approach This paper examines data from five publicity traded hospitality companies that have a timeshare component and carries out different regression analysis using 69 observations ranging from 1998 to 2016. Findings The findings support the idea of an inverted U-shaped relationship between the degree of timeshare business (DOT) and firm value and profitability. However, for positive values of DOT, an increase of DOT consistently has a negative impact on firm value and accounting profitability. Research limitations/implications This study adds to previous findings through the addition of new variables and contemporary accounting practices. Though sufficient for the analyses conducted, the limited number of observations raises g...
Abstract This study provides an inquiry on research conducted on timeshare, through a collection ... more Abstract This study provides an inquiry on research conducted on timeshare, through a collection of 133 academic papers from 69 journals, and 121 theses and dissertations from 29 countries. The results indicate an increasing trend in timeshare research, with 67% of papers published since 2000, and 37% of theses and dissertations in the last decade. The main contributors are Rosen College of Hospitality and Management, on the top for publication of academic papers, and University of Nevada, on first place for timeshare-related theses and dissertations. This first-ever far-reaching collection of literature allows the identification of key scholars and universities, and opens opportunities for exchange and cooperation within researchers to advance this body of literature. Finally, the contributions of this paper are not confined to timeshare research, as it draws attention to the importance of theses and dissertations, as a source of information that scholars are not using as much as they can.
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