Definition : Yield management in the hotel industry

Yield management in the hotel industry refers to the strategic practice of maximizing revenue and profitability by effectively managing the pricing and availability of hotel rooms. This involves analyzing demand patterns, market trends, and competitor pricing to determine the optimal rates and inventory levels for different time periods and customer segments. By implementing yield management strategies, hotels can optimize their revenue potential and ensure a balance between occupancy and room rates, ultimately leading to increased profitability and success in the competitive hospitality market.

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