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.
All Science Journal Classification (ASJC) codes
- Business and International Management
- Economics and Econometrics
- Strategy and Management