Correspondence: Wei Yang, Department of Management, School of Business, Long Island University at C.W. Post. 720 Northern Blvd. Brookville, NY 11548, USA. E-mail: Wei.Yang@liu.edu

¹is an assistant professor in the school of business of Long Island University at C.W. Post. His research interests lie in revenue management and vehicle routing. He teaches MBA Operations Management and Supply Chain Management classes in New York and Shen Zhen. He consulted for a fractional business jet company in Cleveland and a container shipping company in Singapore. He received his PhD from Carnegie Mellon, Master from Tsinghua and Bachelor from HUST. He lives in Long Island.

²is a graduate student in the School of Engineering and Management at Nanjing University.

³received his BS in Mathematics from Nanjing University, MBA from Catholic University of Leuven and PhD in Management Science from the Wharton School, University of Pennsylvania. He is a senior professor and chairman of the Department of Management, School of Business, Long Island University at C. W. Post. His research interests include Operations Management, Revenue Management, among others. He has published extensively in the areas. He is also director of the Center for Service Operations Management at Southwest Jiaotong University.

⁴received his BS degree and MS degree in Mathematics from Nanjing University in 1982 and 1985 respectively, and his PhD degree in Operation Research from Columbia University in 1994. During 1995–2000, he was an assistant professor at the National University of Singapore. He joined the department of system engineering and engineering management in the Chinese University of Hong Kong as an associate professor in 2001. Dr Feng has published extensively in the areas of Operations Management and Revenue Management.

Received 10 December 2007; Revised 10 December 2007; Published online 15 August 2008.

Abstract

To many researchers and practitioners in China, revenue management (RM) was not a familiar term until the beginning of the last decade. As the nation's economy is booming at an unprecedented pace, its service sector has grown rapidly. Managing perishable products, which are commonly seen in service industries, is becoming a frequently faced issue in business practice. Research on and applications of RM in China are drawing increasing attention in both academia and industry. This paper surveys the latest development of RM in China. Although from a theoretical and practical point of view research on RM is fairly new and much behind what is needed, the momentum and potential are visible. The broad spectrum of its application has generated various front-line research problems that will enrich the field.