Hospitality and Travel Marketing
Yield management is a pricing strategy used by businesses to maximize revenue from a fixed, perishable resource, such as hotel rooms or airline seats. This approach involves analyzing consumer behavior and demand patterns to adjust prices dynamically, ensuring that inventory is sold at the most profitable price point. Yield management takes into account factors like booking timing, market demand, and competitive pricing to optimize revenue.
congrats on reading the definition of Yield Management. now let's actually learn it.