FINANCIAL ANALYSIS OF THE EFFECTIVENESS OF INNOVATIVE MEASURES FOR IMPLEMENTING REVENUE MANAGEMENT SYSTEMS
Abstract
The article addresses the problem of improving the methodology for the financial analysis of the effectiveness of innovative measures aimed at implementing Revenue Management Systems (RMS). The study aims to refine the theoretical and methodological approaches to the financial analysis of RMS effectiveness and to systematize an integrated system of indicators that adequately reflects both operational results and strategic effects from the implementation of such systems. The research employed the bibliographic method to study the evolutionary development of RMS, the formal-logical method to refine the theoretical foundations of financial analysis for RMS implementation and operation, as well as comparative and structural analysis methods for systematizing performance evaluation indicators. The implementation of RMS constitutes an innovative measure aimed at transforming approaches to hotel revenue management. When improving the toolkit for the financial analysis of RMS effectiveness, it is essential to consider the evolutionary changes in the functionality of the revenue management system, along with the specifics of its implementation and operation. The foundation for forming a set of key RMS performance indicators is the widely used Model for Evaluating Revenue Management Implementation in the Hotel Industry (MERMI). The authors have refined key aspects of the financial analysis and systematized an integrated system of indicators encompassing operational metrics, strategic indicators, and extended KPIs. The necessity of a comprehensive approach that combines quantitative financial metrics with qualitative assessment is justified to ensure a holistic diagnosis of the maturity of revenue management processes. Particular attention is paid to the diagnostic interrelationship of indicators and their interpretation from the perspective of verifying the success of RMS implementation. The practical value of the article lies in the potential application of the proposed approaches and indicator system for making managerial decisions related to revenue management for accommodation establishments, minimizing investment risks, and optimizing strategies in a context of high competition and market volatility.
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