IMPLEMENTATION OF YIELD MANAGEMENT AS A REVENUE-INCREASING TOOL: CASE STUDY
Palavras-chave:Czech Republic, Implementation, Pricing, Revenue management, Small sized-hotel, Yield management
The purpose of this paper is to implement the usage of ‘yield management’ in a small hotel structure in order to maximize revenues. Currently, most researches in yield management proposes formulas or general formulation of the problem and thus managers face difficulties in its practical application. This study addresses the problem from a different perspective and offers practical calculations and guide for hotel managers which can be easily adopted in practice. Partial goal is by usage of this practical implementation to persuade hotel and financial managers to apply yield management based on the formula that is constructed in the article. The results showed that implementation of yield management is beneficial even for small hotels and can increase annual revenues. This case study should increase awareness in the hotel management and offer an impulse for considering the changes in pricing for increasing better future economic sustainability in small-sized hotels.
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