Q.1. Explain how yield management enhances forecasting and seasonal pricing of inventory in hotel industry. Yield management is a pricing strategy that involves dynamically adjusting the prices of hotel rooms based on demand and other market conditions. This strategy...
Question 1 : Briefly describe the concept of revenue management and discuss its importance in hospitality business. Revenue management (rm) is the art and science of maximizing revenue under variable conditions. It is a management tool that has the objective of...
Q.1. What is Yield Management? Justify its importance to the hotel industry, highlighting its advantages. Revenue Management (RM) is the art and science of maximizing revenue under variable conditions. It is a management tool that has the objective of increasing...
Q.1. Define yield. “Revenue Management is an effective tool to maximize profit”. Justify the statement in approx. 600 words. Definition Revenue Management (RM) is the art and science of maximizing revenue under variable conditions. It is a management tool that has...
Q.1 What is yield management software? With the help of the yield management cycle. Explain its significance in a hotel. List the reports generated by yield management software. The most effective way of handling data and generating yield statics is through a...
Q.1. (a) Explain in your own words the concept of yield management. Yield management is a pricing strategy used by businesses to optimize their revenue and profitability by selling their products or services at the right price, to the right customer, at the right...