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How can you cost efficiently organize a seminar? What are the secrets of yield management?

How can you cost efficiently organize a seminar? What are the secrets of yield management? . The same hotel, the same flight, the same service… But different rates. Agenda. Explanation about the system Is it a manipulation of the customers or simply an organizational tool for companies?

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How can you cost efficiently organize a seminar? What are the secrets of yield management?

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  1. How can you cost efficiently organize a seminar? What are the secrets of yield management? The same hotel, the same flight, the same service… But different rates.

  2. Agenda • Explanation about the system • Is it a manipulation of the customers or simply an organizational tool for companies? • How to play with it when organizing a seminar?

  3. Explanation of the system • Also called revenue management, this system was invented in the 80’s by the CEO of Delta Airlines. Now it is used in various sectors and industries. • It is a technic which is used to optimize the revenues and the profitability. It is generally put in place in companies which have a fixed cost product (eg: number of seats in a plane, number of rooms in an hotel). • The product or service provided by this company MUST be non perishable. In an hotel, when a room has not been sold, it is a lost.

  4. Is it a manipulation? • Yield management helps to maximize the number of customers and products sold. If companies would proposed a fixed rate, the risk for them is be that you might not spend as much money as another customer will have done. • At the contrary they could lose clients who are ready to accept some restrictions in order to pay less. • Yield management allows them to offer a service which corresponds to the budget of each different profiles of clients.

  5. How to play with it? • In hotels, the rates are decided according to some criteria's • Week dates vs weekend dates • High season vs low season • Number of participants • Number of nights • Ratio Sleeping rooms / Meeting space used • Method of payment (master account, deposit…) • Method of reservation (individual booking form vs rooming list) • Cancellation policy,,,

  6. Stéphanie Dewez Phone: +352 621 35 95 56 Email: sdewez@helmsbriscoe.com

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