Abstract Views :285 |
PDF Views:0
Authors
Affiliations
1 Amity School of Hospitality, Amity University.
Source
Journal of Hospitality Application and Research, Vol 3, No 2 (2008), Pagination: 25-36
Abstract
Yield Management technique is not very old technique to be used by organizations who has to allocate limited resources. This has been used primarily by the aviation industry, later on by other service industry dealing with highly perishable industry. The main objective of this study to introduce fundamental concepts and trade offs of yield management and to describe the relation ship between yield management and newsvendor framework that is an important model for inventory management.
In particular, this study is about the hotel organization to decide whether to sell rooms in advance at relatively low price to leisure travelers or to 'hold out' and wait for sale at a higher price to late booking business travelers.
References
- Cross, R. G., 1996. Revenue Management: Hard-Core Tactics for Market Domination. Broadway Books.
- Dhebar, A. and A. Brandenburger. 1993. American Airlines, Inc.: Revenue Management. Harvard Business School Case.
- Geraghty, M. K., and Johnson E., 1997. Revenue Management Saves National Car Rental. Interfaces. Vol.27, pp. 107-127.
- McGill, J. I., and Van Ryzin, G. 1., 1999. Revenue Management: Research Overview and Prospects: Transportation Science. VoU3, pp. 233-256.
- Metters, R. D., Yield Management at Pinko Air., Southern Methodist University Case.
- Ryan, A., 1995. Handbook of Airline Economics. Aviation Week Group, a division of McGraw-Hill Companies, Chapters 47-50.
- Smith, B.C., Leimkuhler, J. F., and Darrow, R. M. 1992. Yield Management at American Airlines. Interfaces. Vol.22, pp. 8-31.
- Talluri, K. T., and Ryzin, G. J. 2002. The Theory and Practice of Revenue Management. Kluwer Academic Publishers, Dordrecht, The Netherlands.
