Revenue management system for the hospitality

The purpose of this study is to describe the essence of the revenue management system, applicable for entities in the hospitality industry, as a multidisciplinary concept, that draws its features from a variety of established academic areas, by consistently clarifying its intrinsic elements. This paper is intended to examine the revenue-management related theory, in regards with its generation and evolution, essence, as well as characteristics of service industries applying revenue management. The revenue management elements, related with economics, marketing, strategic management, information technology and finance, are summarized and described.