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Strategic levers play a fundamental role in revenue management (RM). Earlier research has established price, time, and space as the three levers businesses can wield to optimize performance, but a synthesis of all three is missing. This article presents a three-dimensional model of revenue management levers that categorizes industries in eight octants, visualized as the cube of RM levers. The cube sharpens RM theory and helps companies to identify new opportunities for revenue optimization through comparison with other businesses within their octant. Similarly, it facilitates evaluating possibilities of moving to another octant. Finally, the cube can also assist businesses new to RM to apply strategic levers, address RM collaboration challenges in tourism destinations, and contribute to education in the field. [ABSTRACT FROM AUTHOR]

Within hospitality research, corporate social responsibility (CSR) has attracted plenty of interest, but few studies have investigated a strategic approach to CSR management. Strategic CSR assumes that by systematic investment in responsibility that matches customer demand, a business can earn additional profit while fulfilling societal expectations. However, the details of how such systematic management can be achieved are missing. This leaves the business case for customer-focused, strategic CSR largely conceptual, and offers little advice to hospitality managers wishing to pursue such a strategy. To fill these gaps, our study investigated guest willingness to pay for initiatives that were selected based on a model of strategic CSR management that incorporates key aspects of customer behavior. The results provide empirical evidence on how strategic CSR management can contribute to financial performance and support the need for understanding the guest comprehensively during the strategy development process to achieve the gains. [ABSTRACT FROM AUTHOR]

Biodiversity and the science that addresses its conservation, loss, and recovery, including conservation biology and restoration ecology, are high on the contemporary global agenda. While the hospitality industry has taken major steps toward net carbon zero and even net positive business, we argue that it has another significant advance to make. The United Nations has dedicated 2021–2030 as the decade of ecosystem restoration, and along with it, several other organizations offer guidance on how businesses should approach the natural environment. Considering the role of hospitality as a consumer of nature, we call for the industry to implement these principles in practice through nature-based solutions and restorative and regenerative hospitality. To strengthen this transformation, we urge hospitality management education to include the basic concepts of ecology, biodiversity, and environmental science, along with their application, in curricula. By doing this, education can advance from presenting sustainability actions as a necessity into illustrating and justifying their need on a planetary scale. The change will facilitate the next step the hospitality industry must take in transforming its relationship with the natural environment. [ABSTRACT FROM AUTHOR]

Customers and society increasingly expect purpose from businesses, and the prevalent corporate social responsibility (CSR) approaches do not adequately respond to this demand. To address the situation, we conceptualize Ethically Meaningful Customer Experiences (EMCE) as a new type of customer-oriented responsibility that synthesizes the experience economy and CSR. EMCEs, unlike previous approaches, circumvent implicit or explicit expectation of sacrifice by transforming it into an ethical activity that customers enjoy. We analyze the differences between earlier approaches and our development and provide emerging industry examples that align with the new concept. In synthesizing ethical consumption and the experience economy, EMCEs contribute a new theoretical path to understanding CSR that builds on the role of experience as a fundamental tourism and hospitality industry element and, consequently, develops an approach endogenous to the industry. The concept also contributes to customer experience design by incorporating ethics as a new experience component. We argue that EMCEs allow hotels and resorts to respond to an emerging customer desire for purpose while also addressing concerns related to the societal role of the tourism and hospitality industry. [ABSTRACT FROM AUTHOR]

Competition between tourism destinations is intensifying, and collaboration between stakeholders can increase destination appeal. Until now, such collaboration has limited itself to governance and marketing. To advance an earlier proposal of destination revenue management (RM), we develop a conceptual framework of instigators and limiters to such cooperation between tourism operators. Next, we synthesize the framework with behavioral game theory (BGT), an extension of classical game theory that challenges the utility maximization-based outcomes of the classical version. BGT incorporates additional aspects, such as reciprocity and fairness, into bargaining and cooperation and supports the feasibility of forming a RM alliance. Based on BGT findings, our synthesis provides theoretical and practical insights into how destinations can improve their competitiveness through cooperation in two important RM areas, pricing and demand creation. [ABSTRACT FROM AUTHOR]

Fulfilling consumer expectations of corporate social responsibility (CSR) can bring strategic advantage to firms. However, research on the topic is fragmented across disparate disciplines, and a comprehensive framework to connect CSR supply and demand is missing. As a result, firms often supply CSR that does not attract demand, as signified by pessimism about ethical consumerism in recent years and the inconclusive link between corporate financial and social performance. In this study, we propose a framework of strategic CSR management to define how a company's supply of CSR could meet consumer demand for ethical products by aligning managerial and consumer perspectives. We then investigate empirically whether such a strategic approach, which integrates potential demand in CSR management, would influence consumer choice of products with CSR components. Our hybrid choice modeling allows the inclusion of psychological biases caused by social desirability and cynicism to increase result validity. The findings support the explanatory power of the framework and reveal that consumers prefer some CSR elements while others adversely affect choices. This study advances the understanding of strategic CSR management and its impact on consumer choice and helps managers include the right mix of CSR characteristics in their products to satisfy ethical consumers. [ABSTRACT FROM AUTHOR]

This article presents a new revenue management (RM) concept targeted at businesses struggling to maintain profitability. Destination-centric RM expands the earlier concept of customer-centric RM (Venkat, 2007; Vinod, 2008) and proposes co-operation between businesses to maximize profitability. The concept adopts a destination as the focal point of RM, elevating the management of total customer revenue (Cross et al 2009; Milla and Shoemaker, 2008) to a more aggregate level. Practical application of the concept is demonstrated through existing practices in a ski resort. The model offers insight into practices with the potential to become the next step in the continuous evolution of the discipline. [ABSTRACT FROM AUTHOR]