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This study aims to explain briefly the history and the future of revenue and yield management, offering a graphical visual model to identify the main internal and external elements to be faced by revenue managers.

Stemming from what happened in the past, the authors predict the key elements in revenue management moving forward.

The authors discuss four notable emerging themes for a fertile revenue management application: organizational culture; dynamic pricing, both in terms of intertemporal price discrimination and inventory controls; personalized pricing; and distribution channels.

The paper offers informative knowledge to revenue managers and academics working in the area of strategic yield and revenue management.

This chapter provides an overview of the status of applied econometric research in hospitality and tourism management and outlines the econometric toolsets available for quantitative researchers using empirical data from the field. Basic econometric models, cross-sectional models, time-series models, and panel data models are reviewed first, followed by an evaluation of relevant applications. Next, econometric modeling topics that are germane to hospitality and tourism research are discussed, including endogeneity, multi-equation modeling, causal inference modeling, and spatial econometrics. Furthermore, major feasibility issues for applied researchers are examined based on the literature. Lastly, recommendations are offered to promote applied econometric research in hospitality and tourism management.