What Are the Different Types of Yield Management Jobs?

Revenue management, also known as output management, price elasticity management; also known as "benefit management" or "real-time pricing", it mainly determines the best sales by establishing real-time forecasting models and analysis of demand behavior based on market segmentation Or service price. The core is price segmentation, also known as price discrimination, which implements different price standards to customers based on their different demand characteristics and price elasticity. This price segmentation uses a customer segmentation standard that is a reasonable set of principles and restrictive conditions.

Revenue management

(Books published by Tourism Press in 2009)

Revenue Management or Yield Management is a new business management technology that seeks to maximize revenue. It was born in the 1980s and was first developed by civil aviation.

The important role of this classification criterion is to separate those customers who are willing and able to afford them from customers who are willing to change their consumption methods in order to lower the price through price stripping, to maximize the potential market demand and improve efficiency.

Price and revenue management will be one of the most important and highest return marginal industries of the 21st century. In the hotel industry, due to the huge impact of the revenue management system on the company's decision-making and profitability, the management of many famous hotel groups in the world, especially the major hotel groups in Europe and the United States, attaches great importance to revenue management, and has established specialized revenue management departments and configured them. A computer system capable of performing a large amount of data analysis and real-time optimization. Marriott, the largest hotel group in the United States described in this article, is the most successful user of revenue management and also the largest beneficiary.

Revenue management combines scientific forecasting technology and optimization technology with modern computer technology, and deeply applies marketing theories such as market segmentation and pricing to a very detailed level, forming a set of systematic management concepts and methods that enable aviation Ticket sales become highly precise marketing. Air ticket sales under revenue management strive to maximize flight revenue and maximize overall airline revenue when each ticket is sold. The basic characteristics of revenue management are "precise marketing" and "revenue-centric." The idea should include the following 7 core concepts

When balancing supply and demand, the main consideration is price rather than cost.

Segment the market accurately and use multiple prices to meet the price sensitivity of each market segment.

Use market-based pricing instead of cost-based pricing.

Reserve seats for the most valuable passengers.

Make decisions based on objective circumstances.

Develop product value chain.

Continuously reassess opportunities and make scientific decisions ^[1]

Title: Revenue Management

Author: Hu Jian quality

Publisher:

This is China's first monograph that systematically and comprehensively introduces advanced foreign revenue management theory and practice. The content of the book is informative and comprehensive, with rich chart cases, very practical and refreshing. In the case of economic recession and sluggish market demand, the book describes the use of revenue management strategies to maximize hotel revenue.

"Maximizing revenue and maximizing profits" is the dream goal of every business manager.

The development of the hotel industry in China has experienced a period of sustained and rapid economic growth and a period of temporary adjustment. The hotel market has become increasingly mature and competition has become increasingly fierce. Implemented at Hong Kong and Macau Centre Hotel

Hu Zhijian, Master of Hotel Management from Cornell University, USA, Bachelor of Economics from Sun Yat-Sen University, China, graduated from the Department of Tourism and Hotel Management, School of Management, Sun Yat-Sen University. Worked successively

Preface

Preface

Chapter I Basics of Revenue Management

What is revenue management

The practical significance of implementing revenue management

History, Status, and Future of Revenue Management

Fourth, the industry applicable to revenue management

Five, the four major elements of revenue management

Methods and indicators for measuring revenue management performance

Highlights

Chapter II Hotel Products, Sales Channels and Prices

1. Hotel products and their combinations

Second, the hotel's sales channels

Third, the price breakdown, price categories and structure of the hotel

Fourth, the common hotel pricing methods and comparison

V. Market-centric pricing method-dynamic pricing method

How to implement dynamic pricing

Challenges in implementing dynamic price management

Highlights

Chapter 3 Market Environment Analysis of Revenue Management

I. Marketing concepts that must be understood and mastered when implementing revenue management

Implementation of revenue management strategies and marketing strategies requires support from production and service departments

Fourth, the revenue management strategy consists of long-term, medium-term and short-term strategies

Fifth, the establishment of the hotel's annual operating income budget

Case study: Formulation of operating revenue budget, revenue management strategy and marketing strategy for successful hotels

Highlights

Chapter 7 Practical Skills of Revenue Management

I. Capacity Control Method

Second, the overbooking method

3.Accommodation days control method

Fourth, the room type difference method

V. Upshift sales method and downshift sales method

Six, trigger point price control method

7. Added value method

Discount on the number of days of stay

Nine, package promotion law

X. Details of profit-making regulations

Eleven, team market replacement analysis

Highlights

Chapter VIII Implementation of Revenue Management Strategy

I. The whole process of revenue management implementation

Establishment of Revenue Management Organization and Management Team

How to Convene an Effective Hotel Revenue Management Conference

How the revenue management department communicates smoothly with other departments

Attachment: key points of self-assessment of revenue management

Highlights

Chapter Nine Comprehensive Revenue Management

First, most of the hotel's business departments can use revenue management strategies to increase revenue

Second, the implementation of comprehensive revenue management must establish the correct guiding ideology

Third, some common misconceptions that must be corrected in implementing comprehensive revenue management

How to use revenue management to increase restaurant operating income

Five, how to use revenue management to improve the profit of golf clubs

Six, how to use revenue management to improve the revenue of car rental business

Highlights

postscript