^*Department of Management, School of Business, Long Island University at C.W. Post, 720 Northern Blvd. Brookville, NY 11548, USA. Tel: +1 516 2992316; Fax: +1 516 2993917

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.