IDEAS home Printed from https://ideas.repec.org/a/taf/marpmg/v49y2022i7p1010-1026.html
   My bibliography  Save this article

Revenue efficiency and its drivers in the cruise industry

Author

Listed:
  • Minh-Anh Thi Nguyen
  • Ming-Miin Yu
  • Taih-Cherng Lirn

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.

Suggested Citation

  • Minh-Anh Thi Nguyen & Ming-Miin Yu & Taih-Cherng Lirn, 2022. "Revenue efficiency and its drivers in the cruise industry," Maritime Policy & Management, Taylor & Francis Journals, vol. 49(7), pages 1010-1026, October.
    • Handle: RePEc:taf:marpmg:v:49:y:2022:i:7:p:1010-1026
    DOI: 10.1080/03088839.2021.1934583
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/03088839.2021.1934583
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/03088839.2021.1934583?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:marpmg:v:49:y:2022:i:7:p:1010-1026. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/TMPM20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.