Revenue Management by Robert Cross

I started reading this book in January and just finished it yesterday.  It's non-fiction, academic book on Revenue Management.  It's not required reading so it got overtaken by other, more entertaining reads.

I work for the Revenue Management organization for a hotel group.  Before this job, I had zero knowledge about RM.  I got hired on the strength of my Operations Research background but this was a completely new field to me.  I need to know the basics and my manager recommended this book.  He knows the author personally.

Robert Cross is considered the guru of Revenue Management.  He helped Marriott and American Airlines develop and implement their RM processes and systems and basically introduced RM applicability to many industries.  He also helped develop IHG's RM system.  I had the opportunity to hear him speak during the Sales and Marketing Meeting in February.  Unfortunately, I forgot to bring the book.  I could have had it signed...

Ok, back to the review.  This book gives a really good overview of RM and how it can address specific business problems.  It also focuses on the outside environment (market) as a means of growing the business and not internal factors (e.g. cost-cutting) which can only do so much.  The book also presents how RM can be applied to many industries, and gave meaningful stories about how RM implementation helped turn around businesses that were on the red year after year.  A good read overall, as far as business books are concerned.

I now have a better understanding of RM and a better appreciation of what we do in our organization.

*Side story:
This book actually traveled a long way before getting to me.  I bought it on eBay, delivered to my sister's address in San Diego.  Then she sent it to my friend Joel in New York.  I got it from him when he was in Manila for vacation in January. =)