Revenue Optimization: Strategic Revenue Management for Hospitality Industries

Abstract

This study examines the revenue management strategies in the district 1 of the Province of Surigao del Sur hospitality industry by examining the perspectives of owners, employees, and customers. A generational shift is evident, with younger individuals entering the workforce and older professionals moving into leadership. Most stakeholders are college-educated, indicating a capable foundation for business success. Customers are typically young, financially able, and demand innovation and quality. Employees perceive revenue management strategies as effective due to their close involvement in daily operations. Operational efficiency and external market awareness are the most valued tactics across groups. However, perceptual gaps exist, especially regarding marketing and technology adoption, where customer expectations are not fully met. Pearson correlation analysis confirms significant relationship in how stakeholders view revenue optimization strategies. To improve outcomes, the study suggests integrating advanced technology, launching employee training programs, promoting through digital marketing, enhancing products and services, and incorporating customer feedback. It also advocates for leadership development programs to prepare younger employees for ownership roles. The research underscores the importance of aligning internal processes with customer expectations and encourages future studies on the influence of organizational structures and digital business models.