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The Meaning and Management of Yield in Hotels- A Critique

Stuart Jauncey, Ian Mitchell and Pamudji Slamet
Gives “best fit� definitions of yield management and identifies the features of an ideal application


Introduction

Relihan W.J[1989] considers that it: “...involves the application of basic economic principles to pricing and controlling rooms inventory for the purposes of maximizing revenues.�

The best fit definition of Yield management is as follows (Jauncey, 1995)-
Yield management (also referred to as, the “revenue management�) is an integrated and systematic approach to revenue maximization via manipulating the rates offered to the customers in light of forecasted demand and supply patterns. It is geared towards selling the right inventory unit to the right customer at the right time for the right price. The aim this article was to develop a best definition and find a suitable application for the same. Majority of authors have claimed that yield......

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Approximate Word Count: 2127
Approximate Pages: 9 (250 words per double-spaced page)

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