Application of revenue management practices to the theme park industry

Revenue management (RM) has been an essential strategy to maximize revenue for many capacity-limited service industries. Considering the common industry characteristics of traditional RM industries, the nature of the theme park industry suggests potential for enhancing revenue by exercising a variety of RM techniques. This study suggests practices for theme park operators for successful RM application. In addition, this study examines how customers perceive RM practice in the theme park industry compared to a traditional RM industry, hotel industry. The findings indicate that customers seem to perceive RM practice in the theme park industry as relatively fair practices as similarly perceived for the hotel industry. The findings are encouraging for the theme park industry because a relatively similar level of its customers’ perceived fairness of the RM practice compared to the hotel industry suggests that adoption and implementation of the RM practice has great potential to become successful as it has been in traditional RM industries, such as hotels.     

Measuring financial performance through operating business efficiency in the global cruise industry: A fuzzy benchmarking study on the “big three”

Surprisingly, despite extensive research on the impacts of COVID-19 on the hospitality industry, no study develops financial performance benchmarks that reflect these effects. This research seeks to fill this gap by examining the financial performance of companies in the shipping sector, specifically the cruise sub-sector. The \"three biggest players\" in the sector are the focus of this analysis. Benchmarking is essential for both existing market participants and potential new entrants. Fuzzy methods are used in modeling situations that involve uncertainty. The findings indicate that the three companies' operations must be redesigned in order to produce income and pay off debts. Additionally, Carnival Corporation's resilience is evident in times of crisis, as it demonstrates the best growth prospects, remains dominant in terms of liquidity, presents the highest return on assets, and borrows less than the other two companies.     

Impacts of cruise service quality and price on vacationers’ cruise experience: Moderating role of price sensitivity

In view of the increased interest in cruise vacations and limited study on cruises, the purpose of this study was to shed light on an understanding of cruise vacationers’ evaluations of onboard experiences with cruise lines in North America and their loyalty-formation process. The empirical results revealed that interactional quality and outcome quality were significantly and positively associated with novelty and perceived value which in turn, affected satisfaction and loyalty. In addition, perceived price was a significant and negative predictor of perceived value. The moderating function of price sensitivity showed that novelty was more effective in inducing satisfaction in the low price sensitivity group and it was more effective in enhancing perceived value in the high price sensitivity group. Overall, these results help cruise line operators who observe that cruise vacationers have become more demanding on service quality, price, and value. Practical and theoretical contributions are discussed.     

In search of ‘a research front’ in cruise tourism studies

This article aims to provide a critical view of the global scientific production involved in cruise tourism study. Global references in this field were identified and emphasised for managing existing data to establish ‘bridges’ among researchers. Scientometric analysis was conducted on publications about cruise tourism in mainstream journals integrated into Web of Science. This methodology enabled us to identify current topics, relevant journals, authors, institutions, profitable countries, ‘visible’ and ‘invisible’ collaborative colleges and the research areas considered as the epicentre of the cruise tourism debate. A significant contribution of this work is the use of indicators at the three levels of scientometric complexity, i.e. scientific activity, impact and relational character.     

Delivering the Right Tourist Service to the Right People–A Comparison of Segmentation Approaches

ABSTRACT

Market segmentation has developed to become a generally accepted and widely applied concept in strategic marketing. However, the gap between academic research aiming at increased sophistication of the methodology and managerial use has steadily increased. This paper takes the perspective of a destination manager and compares two segmentation approaches. One typically used in destination management (a priorigeographical segmentation) and another one that is common in academic literature (a posterioribehavioural segmentation). The comparison emphasizes managerial usefulness (implying maximization of match between the tourists' vacation needs and the des-tinations' offer) and is illustrated with an empirical guest survey data set for Austria.     

An investigation of perceptions of social equity and price acceptability judgments for campers in the U.S. national forest

In spite of the significance of social equity in determining appropriate fee levels for activities such as camping in public nature-tourism resources, there has been little understanding of the mechanisms that (a) influence the debate over scale and (b) the conditions that are used in fee determination. The main objective of this study is to investigate the decision making process that predicts social equity judgments and price acceptability of user fees for activities such as camping in protected areas (including parks) and outcome the variables. In this study of Wasatch-Cache National Forest in northeastern Utah using conjoint analysis the results indicated that the extent of public input was the most prominent predictor of social equity judgment at p < 0.01. The second highest part-worth coefficient was obtained in support of low user fees (a hypothetical scale of $3.00 vs. $8.00). The magnitude of the part-worth coefficients for price acceptability showed that the highest part-worth coefficient was a fee level of $3.00. The next highest part-worth coefficient was in support of revenue being used to maintain the quality of the site. It was also found that that “extensive public input” was an important predictor of social equity.     

Influences of consumer characteristics on fairness perceptions of revenue management pricing in the hotel industry

Fairness perceptions play an important role in customers’ behavior, and this study explores which consumer characteristics influence fairness perceptions of revenue management (RM) pricing in the hotel context. To examine such differentiating characteristics, the study conducts a logit analysis by comparing two groups: one group of customers who consider hotels’ RM practices to be fair and the other group considers the practices to be unfair. The findings provide an opportunity for hotel managers to identify customers’ particular characteristics that affect customer's perceptions of the fairness of hotels’ RM pricing practices.