ELEMENTS OF YIELD MANAGEMENT Yield management is a

Yield management is a process of understanding , anticipating and influencing consumer behaviour

While developing a successful yield startegy following elements are very important 1. Group room

Group Room Sales Group sales form the majority of the room revenue is

TO CLEARLY UNDERSTAND HOW GROUP SALE AFFECT OVERALL ROOM REVENUE, THE FOLLOWING INFORMATION SHOULD

Transient or Individual room sales Transient rooms are sold to free independent travellers

Local and are wide conventions can have dramatic effects on the yield Local

Food and Beverage Activities The group needing both catering and guest room space

Special Events During special events like festivals or sports events, hotel might decide

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ELEMENTS OF YIELD MANAGEMENT

Yield management is a process of understanding , anticipating and influencing consumer behaviour in order to maximise revenue from perishable resource such as airline seats or hotel rooms.

While developing a successful yield startegy following elements are very important 1. Group room sales 2. Transient room sales 3. Food and Beverage Activities 4. Local and Area wide Activities 5. Special Events

Group Room Sales Group sales form the majority of the room revenue is very important for hotel yield It is common to have reservations for group sales three months to six months in advance. Therefore understanding group booking trends and requirements can be critical to the success of yield management.

TO CLEARLY UNDERSTAND HOW GROUP SALE AFFECT OVERALL ROOM REVENUE, THE FOLLOWING INFORMATION SHOULD BE COLLECTED Group already booked Group Booking pace Anticipated group business Booking lead time Displacement of transient business

Transient or Individual room sales Transient rooms are sold to free independent travellers A commercial hotel may book a majority of its group business three to six month before arrival but book transient business only one to three weeks before arrival.

Local and are wide conventions can have dramatic effects on the yield Local and Area wide Activities management strategies of a hotel. Even when a hotel is not in the immediate vicinity of a convention, individual guest or groups who may been displayed by the convention may be referred to you hotel and may have impact on the hotel revenue.

Food and Beverage Activities The group needing both catering and guest room space Therefore, will local be food more profitable. and beverage functions should be potential for booking groups that need meeting space, food and beverage service and guest rooms.

Special Events During special events like festivals or sports events, hotel might decide to benefit from high demand by restricting room rate discount minimum length of stay or requiring