Y

What is the meaning / definition of Youth Hostel? A youth hostel is a lower priced accommodation type in the hospitality industry catering towards a younger target market. The facilities, amenities, product and services offered are all dedicated towards the needs and wants of younger travellers. Overall youth hostels are the [...]

What is the meaning / definition of Yield Management in the hospitality industry? Simply put, the purpose of Yield Management (aka Revenue Management) is to achieve maximum revenue/profit. To do this, a yield management strategy needs to be both reflective and forward-looking. That is, yield managers should attain a clear yet [...]

What is the meaning / definition of Yield in the hospitality industry? Yield simply means revenue made. But a common mistake is to assume that Yield is the revenue created from the selling of rooms and suites and from in-house services within the hotel. That is not necessarily so! Yield can [...]