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- Title
Revenue Management Delivers Significant Revenue Lift for Holiday Retirement.
- Authors
Kuyumcu, Ahmet; Yildirim, Utku; Hyde, Amber; Shanaberger, Scott; Kai Hsiao; Donahoe, Sheila; Wu, Shamim; Murray, Melanie; Maron, Matthew B.
- Abstract
Holiday Retirement (Holiday), the second-largest senior-housing operator in the United States, has over 300 facilities and an annual revenue of approximately $1 billion. Holiday partnered with Prorize to replace its outdated pricing model with a new revenue management system to increase revenue and improve customer satisfaction. Holiday's previous inconsistent pricing structure resulted in continual price negotiations between corporate and local staff, and between local staff and customers, and led to revenue loss and negative customer experiences. By implementing an innovative revenue management system similar to those traditionally used in the travel and hospitality industries, Holiday has increased its revenue from new rentals by $88 million, or approximately nine percent, since it fully deployed the state-of-the-art system in 2014.
- Subjects
HOLIDAY Retirement Corp.; REVENUE management; BUSINESS revenue; BUSINESS partnerships; PRICING; CUSTOMER satisfaction
- Publication
Interfaces, 2018, Vol 48, Issue 1, p7
- ISSN
0092-2102
- Publication type
Article
- DOI
10.1287/inte.2017.0927