{"title":"Revenue efficiency and its drivers in the cruise industry","authors":"Minh-Anh Thi Nguyen, Ming‐Miin Yu, T. Lirn","doi":"10.1080/03088839.2021.1934583","DOIUrl":null,"url":null,"abstract":"ABSTRACT The recent capacity expansion, the pressure to fully utilize capacity, and the increasingly intense competition among cruise companies have greatly challenged revenue management in the cruise industry. Despite the constant efforts to optimize all revenue streams, cruise companies have gained a limited understanding of their revenue efficiency and untapped revenue potential. Within this context, the present study adopts a two-stage data envelopment analysis (DEA) approach applied to the data set of 181 cruise ships in 2018 to examine revenue efficiency and its drivers in the cruise industry. The results reveal that the cruise ships generally have forgone a considerable amount of potential revenues, indicating a necessity for revisiting revenue strategies. Furthermore, the study sheds light on the connection between the cruise ship’s revenue efficiency and its features, cruise category, and exogenous events. Finally, some managerial implications for improving and maintaining revenue efficiency are provided.","PeriodicalId":18288,"journal":{"name":"Maritime Policy & Management","volume":null,"pages":null},"PeriodicalIF":3.7000,"publicationDate":"2021-06-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/03088839.2021.1934583","citationCount":"4","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Maritime Policy & Management","FirstCategoryId":"5","ListUrlMain":"https://doi.org/10.1080/03088839.2021.1934583","RegionNum":3,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"TRANSPORTATION","Score":null,"Total":0}
引用次数: 4
Abstract
ABSTRACT The recent capacity expansion, the pressure to fully utilize capacity, and the increasingly intense competition among cruise companies have greatly challenged revenue management in the cruise industry. Despite the constant efforts to optimize all revenue streams, cruise companies have gained a limited understanding of their revenue efficiency and untapped revenue potential. Within this context, the present study adopts a two-stage data envelopment analysis (DEA) approach applied to the data set of 181 cruise ships in 2018 to examine revenue efficiency and its drivers in the cruise industry. The results reveal that the cruise ships generally have forgone a considerable amount of potential revenues, indicating a necessity for revisiting revenue strategies. Furthermore, the study sheds light on the connection between the cruise ship’s revenue efficiency and its features, cruise category, and exogenous events. Finally, some managerial implications for improving and maintaining revenue efficiency are provided.
期刊介绍：
Thirty years ago maritime management decisions were taken on the basis of experience and hunch. Today, the experience is augmented by expert analysis and informed by research findings. Maritime Policy & Management provides the latest findings and analyses, and the opportunity for exchanging views through its Comment Section. A multi-disciplinary and international refereed journal, it brings together papers on the different topics that concern the maritime industry. Emphasis is placed on business, organizational, economic, sociolegal and management topics at port, community, shipping company and shipboard levels. The Journal also provides details of conferences and book reviews.
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