The term revenue management may have been introduced in the 20th century, but the concept is very old. In the olden days, unethical practices were more popular than ethical practices. Creating artificial demand, stockpiling, holding rates via consortium are older practices which are followed till today.
While generally among the masses, such unethical practices are thought to prevail only in the agri-industry, it does exist in many industries including the travel and tourism industry.
Unethical practices in the hotel industry are not followed daily but are rather occasional.
Let’s see the unethical practices followed in the hotel industry.