(PDF) Yield management - Assignment
Added on 2020-10-22
9 Pages2657 Words139 Views
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Yield Management practiceand recent technologicaladvances in the rooms industry
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Critical analysis and evaluation of yield management practices in the industry........................1TASK 2............................................................................................................................................5Recent technology development within room market place.......................................................5CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTIONYield management is an uncertain pricing plan of action which is based on perceptions,judgements and determinative behaviour of customers. It is a process which is used to maximiseprofits from limited resources and revenues. Mainly it is used in hotel and airline industry inwhich companies use it for reservation purpose. Main purpose of this technique is to sell rightthing to to right person at right time and assure that organisation is going to acquire higherprofits in long as well as short term (Boella and Goss-Turner, 2013). Now a days advancedtechnology is used by hotel industry to enhance number of customers and provide themappropriate services. Organisation chosen for this report is Mclntyre hotel which is four starhotel. Critical analysis of the yield management games, evaluation of strategy andimplementation of latest technologies in hotel industry are discussed under this assignment. TASK 1Critical analysis and evaluation of yield management practices in the industry Mclntyre hotel is a four star hotel and it is willing to analyse the appropriate strategy thatmay be used to analyse hotel's occupancy. Situational strategy is used for the analysis in which ithelps the managers to think and plan for the particular situations that may help occur in futureand affect organisational capacity of performing operations. According to this analysismanagement games were played in class which is as follows:SunMonTuesWedThursFriSatTotal(d)Rooms Sold543883971008367522RoomOccupancy %54.00%38.00%83.00%97.00%100.00%83.00%67.00%74.50%Sleepers9643109128151153116796SleeperOccupancy %48.00%21.50%54.50%64.00%75.50%76.50%58.00%56.80%OverbookingNo of rooms00000000Overbookingpenalty £50 per room000000001
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