Revenue Management

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Title: Revenue Management
 
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Subject: Business
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Date: September 5, 2000
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Length: 9 / 2502
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However, these definitions fail to address how to operate the yield management system effectively. There are some models have been proposed by different authors in regarding about successful implement yield management in the hotels. The goal of hotel management is to generate revenue with the hotels?¦ available resource and the key factors in determining room revenue are occupancy and average room rate (Donaghy et al: 1995)...
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Yield management aims to optimize both these variables simultaneously (McMahon-Beattie and Donaghy: 2000) and this can easily be seen in Orkin?¦s (1988) efficiency statistic: In addition, Orkin (1988) realized revenue is ??actual sales receipts?¦ and potential revenue is ??income that could be secured if 100 per cent of available rooms are sold at full rack rate?¦ (Cited in McMahon and Donaghy 2000: 235) However, Donaghy et al (1995) and McMahon and Donaghy (2000) challenged Orkin?¦s definition, they points out due to many hotels are rely on discounted leisure and/or conference guests and there are no industry specific criteria for the establishment of the rack rate, the use of the yield efficiency statistic result may be unrealistic and misleading in comparisons across hotels...
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