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What is YieldManagement? Yieldmanagement is a pricing and revenue management strategy that is used to maximise business performance. It involves adjusting prices based on predicted demand and other external factors to maximise revenue or yield. A similar principle can apply to distribution.
A recent study by Agilysys, a leading global provider of hospitality software solutions and services, has revealed a surprising trend in the APAC hospitality industry: high guest satisfaction doesn’t necessarily translate into repeat business. Despite positive experiences, many travellers are not returning to hotels they’ve enjoyed.
As someone who spent his fair share of time in the trenches of revenue management, I can tell you it isn’t just some fancy industry jargon; it’s a game-changer, a revenue booster, your ticket to serious profit. What is YieldManagement, Really? That’s yieldmanagement in action.
As someone who spent his fair share of time in the trenches of revenue management, I can tell you it isn’t just some fancy industry jargon; it’s a game-changer, a revenue booster, your ticket to serious profit. What is YieldManagement, Really? That’s yieldmanagement in action.
As someone who spent his fair share of time in the trenches of revenue management, I can tell you it isn’t just some fancy industry jargon; it’s a game-changer, a revenue booster, your ticket to serious profit. What is YieldManagement, Really? That’s yieldmanagement in action.
Business Intelligence & Reporting Dashboards How to handle all of that data of your hotel? Business intelligence dashboards pull from multiple sources, giving you concise, actionable information on revenue trends, booking patterns, and guest behaviorsin one place. This is often a big challenge of hoteliers.
Resort revenue management has become an indispensable tool for businesses, fostering strategies that maximize yield and build strong customer relationships. The Cornerstones of Resort Revenue Management Resort revenue management , interchangeably used with yieldmanagement, revolves around a strategic pricing approach.
When travelers book on your website, you can upsell them to premium rooms and cross-sell onsite services and add-ons like breakfast, dining, spa, and recreation. Two-way connectivity with channel manager and revenue management software to optimize distribution, and pricing, and avoid double bookings. Generate more revenue.
In simpler terms, businesses can use AI to gather and analyze a ton of data about specific customers, allowing them to customize their services and offerings to suit their needs and preferences. To learn about the benefits of yieldmanagement in the hotel industry, read this.
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