Hotel revenue management is

"Systems & procedures to maximize results from the sale of a product or service in more or less fixed supply, whose revenue producing ability diminishes with time."

Dr. Warren Lieberman
Veritech Solutions Inc.

conceptual definition

"Revenue management is the art and science of predicting real-time customer demand at the micromarket level and optimizing the price and availability of products."

Robert G. Cross, Author
Revenue Management - Hard-Core Tactics for Market Domination

simple definition

Hotel revenue management means

selling the right room
to the right customer
at the right time
for the right price
the right length of stay
from the right distribution source.

Bonnie E. Buckhiester
Buckhiester Management