Naslov
Yield Management in Hotel Sector

Autori
Vitner Marković, Silvija ; Pukšar, Ivan

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), stručni

Izvornik
7th International Scientific Conference on Production Engineering Development and Modernization of Production / Dr. sc. Karabegović I. ; dr. sc. Jurković, M. ; dr. sc. Doleček, V. - Zenica : Tehnički fakultet Univerziteta u Bihaću, 2009, 229-233

ISBN
978-9958-624-29-2

Skup
RIM 2009

Mjesto i datum
Kairo, Egipat, 26.09.2009. - 03.10.2009

Vrsta sudjelovanja
Ostalo

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
hotel; concept of yield management; business plan; future demand prediction; costs of production; price policy for the hotel goods and services

Sažetak
Managers have a goal to obtain a profit in hotel business by providing services of accommodation, food and beverage and other services. Those services can be provided to tourists and domestic population. Service providing, working process and organization structure are usually more complex in hotels than in other facilities in hospitality industry. The division of working process in hotels is more detailed and the number of employees is higher. In effort to obtain already mentioned goal in the hotel business, managers use a concept of yield management. Yield management, the technique of controlling the implementation of the business plan, includes procedures of planning and realizing optimal profitability in the hotel business. It is important to predict future demand for hotel services. Demand forecasting is a crucial activity in the implementation of yield management concept. Hotel managers make business plan as a basic element for the prediction of hotel occupancy in the future. Key factors for the implementation of yield management are the control of the production costs and the appropriate price policy for the goods and services provided by a hotel to achieve the effect of faster revenue growth with production costs as low as possible. Intention of managers is to accomplish the effect of fast growth of total revenues by low costs of production. The prices of hotel services and goods are defined by the time period of the year in which managers predict the level of demand of each market segment. The prices in a hotel fluctuate depending on market segments which are essential for the hotel business, type of available accommodation, date of arrival in the hotel, the duration of stay, etc. Managers predict demand based on the experience, on the facts regarding the hotel occupancy in previous periods and market research. The permanent intention to generate revenue from the business with costs as low as possible, is not only the intention of hotel enterprises but the enterprises in general.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

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