Yield Management to Optimize Expected Revenues

Yield Management refers to a method of dynamically-pricing products such as airline seats and hotel rooms in such a way as to optimize revenues. While this technique is best known to the public from its application in the airline industry, it has a fact been employed in the hotel business since the early 1990s, managing room pricing strategies according to forecasts of supply and demand. However, these techniques are less well developed in the convention side of the business, especially in the case of opportunities that span multiple facilities.