How Is the Yield Manager Integral to The Hotel Industry?

1. How Is the Yield Manager Integral to The Hotel Industry? Before one tries to understand the significance of the yield manage it is essential to understand who a yield manager is and the role of the yield manager in the hotel industry. Also it is vital to understand why the business needs a team dedicated to yield

2. management, which is led by a yield manager. Basically, yield management is all about getting a most beneficial and propitious yield in the form of an annual turnover for the business. In business terms, it is said that yield management is all about selling a

3. product to the right customer at the most precise and accurate rate and at the most appropriate time. This is done by determining the best season or time period for promoting the products of the industry. In the case, of the hotel industry, competitive rates are offered along with discounts and rebates to people who are then enticed to take up the offer and book their rooms in the hotel. Such promotions are decided by the yield manager in consultation with the team responsible for yield management in hotel industry. What are the ways in which the yield management team functions in the hotel industry?

4. Some of thetechniques adopted by the yield management team and the yield manager in particular is to ensure more profitability in the hotel industry include: Determining the best time to sell a  product Ascertaining the most viable rate for the  product Recognizing the right buyer for the  product by identifying the exact need of the buyer. Focusing on the right cost so that the cost  is affordable for the buyer. The yield management techniques are not only relevant for the hotel industry and extends over all industries, just as the

5. revenue management services are highly useful for all industries.