{"id":22746,"date":"2020-04-14T09:29:42","date_gmt":"2020-04-14T09:29:42","guid":{"rendered":"https:\/\/www.xotels.com\/uncategorized\/yield-management\/"},"modified":"2024-12-23T13:32:30","modified_gmt":"2024-12-23T13:32:30","slug":"yield-management","status":"publish","type":"post","link":"https:\/\/www.xotels.com\/en\/glossary\/yield-management","title":{"rendered":"Yield Management"},"content":{"rendered":"<p>What is the meaning \/ definition of Yield Management in the <a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/hospitality-industry\">hospitality industry<\/a>?<\/p>\n<p>Simply put, the purpose of Yield Management (aka <a title=\"Hotel Revenue Management\" href=\"\/en\/hotel-revenue-management\">Revenue Management<\/a>) 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 detailed understanding of what has happened before, and what is happening now. The most efficient way to do this is to draw from historical data to predict what may then happen in the future. So, the process of effective yield management involves understanding, anticipating and reacting to consumer behaviour (to ultimately maximise <a title=\"Revenue Management Definition\" href=\"\/en\/glossary\/revenue-management-formulas\/\">revenue<\/a>!).<\/p>\n<p>By optimising yield management, an <a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/independent-hotel\">independent hotel<\/a> or a chain of hotels can adjust its prices, to meet the total <a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/demand\">demand<\/a> characteristics of its markets.<\/p>\n<p><strong>Prices can be determined by:<\/strong><\/p>\n<ul>\n<li>Service<\/li>\n<li>Group of services<\/li>\n<li>Market (consumer type or geographical), or<\/li>\n<li>A combination of the above<\/li>\n<\/ul>\n<p><strong>Yield management models are most effective where the service being supplied is characterised as:<\/strong><\/p>\n<ul>\n<li>Capital intensive<\/li>\n<li>Perishable (revenue is lost if the product\/service is not sold by a particular point in time)<\/li>\n<\/ul>\n<p>And the demand side is characterised with:<\/p>\n<ul>\n<li>Variability of demand<\/li>\n<li>Variability of value<\/li>\n<\/ul>\n<p>These days, smart yield managers or yield management teams\u00a0use specifically- developed software, particularly when formulating <a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/variable-pricing\">variable pricing<\/a> strategies.<\/p>\n<p>Where a small or newly opened <a class=\"glossary-only-link\" href=\"https:\/\/www.xotels.com\/en\/glossary\/hotel\">hotel<\/a> perhaps needs help and advice on orchestrating and then successfully implementing a well thought through yield management strategy, the services of an outside consultancy firm or indeed an independent freelance consultant could be utilised. This can prove a wise investment, saving hotels years of trial and error when trying to get to grips with effective yield management. An experienced consultant can advise on key steps, formulas, ideas and best practices, as well as sharing a few little-known industry tips and tricks.<\/p>\n<p><strong>See also:<\/strong><\/p>\n<ul>\n<li><a href=\"\/en\/glossary\/revenue-management-strategy\/\">Revenue Management Strategy<\/a><\/li>\n<li><a title=\"Revenue Management Definition\" href=\"\/en\/glossary\/remote-revenue-management\/\">Definition of Revenue Management<\/a><\/li>\n<\/ul>\n<p><strong>Synonyms:<\/strong><\/p>\n<ul>\n<li>Yield Management<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>What is the meaning \/ definition of Yield Management in  [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9,53],"tags":[],"class_list":["post-22746","post","type-post","status-publish","format-standard","hentry","category-glossary","category-y"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Yield Management Definition \/ Meaning - Xotels<\/title>\n<meta name=\"description\" content=\"Definition: Simply put, the purpose of Yield Management (aka Revenue Management) is to achieve maximum revenue\/profit.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.xotels.com\/en\/glossary\/yield-management\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yield Management Definition \/ Meaning - Xotels\" \/>\n<meta property=\"og:description\" content=\"Definition: Simply put, the purpose of Yield Management (aka Revenue Management) is to achieve maximum revenue\/profit.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.xotels.com\/en\/glossary\/yield-management\" \/>\n<meta property=\"og:site_name\" content=\"Xotels\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-14T09:29:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-23T13:32:30+00:00\" \/>\n<meta name=\"author\" content=\"Patrick Landman\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@xotels\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Patrick Landman\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":[\"Article\",\"BlogPosting\"],\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary\\\/yield-management#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary\\\/yield-management\"},\"author\":{\"name\":\"Patrick Landman\",\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#\\\/schema\\\/person\\\/f51e882bd553ae1b905fc0214cdca6f5\"},\"headline\":\"Yield Management\",\"datePublished\":\"2020-04-14T09:29:42+00:00\",\"dateModified\":\"2024-12-23T13:32:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary\\\/yield-management\"},\"wordCount\":316,\"publisher\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#organization\"},\"articleSection\":[\"Hotel Terminology &amp; Glossary\",\"Y\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary\\\/yield-management\",\"url\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary\\\/yield-management\",\"name\":\"Yield Management Definition \\\/ Meaning - Xotels\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#website\"},\"datePublished\":\"2020-04-14T09:29:42+00:00\",\"dateModified\":\"2024-12-23T13:32:30+00:00\",\"description\":\"Definition: Simply put, the purpose of Yield Management (aka Revenue Management) is to achieve maximum revenue\\\/profit.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary\\\/yield-management#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary\\\/yield-management\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary\\\/yield-management#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.xotels.com\\\/en\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Hotel Terminology &amp; Glossary Cat\",\"item\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary-cat\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Y\",\"item\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/glossary-cat\\\/y\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"Yield Management\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/\",\"name\":\"Xotels\",\"description\":\"Xotels - Revenue Management Consulting\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#organization\",\"name\":\"Xotels - Hotel Management Company\",\"url\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.xotels.com\\\/wp-content\\\/uploads\\\/2022\\\/05\\\/xotels-hotel-management-company-logoOriginal-compress.webp\",\"contentUrl\":\"https:\\\/\\\/www.xotels.com\\\/wp-content\\\/uploads\\\/2022\\\/05\\\/xotels-hotel-management-company-logoOriginal-compress.webp\",\"width\":196,\"height\":65,\"caption\":\"Xotels - Hotel Management Company\"},\"image\":{\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/#\\\/schema\\\/person\\\/f51e882bd553ae1b905fc0214cdca6f5\",\"name\":\"Patrick Landman\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f58c009011be358c80a1c2ebe59eef60c38e8685209f398d3d96192f15599fff?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f58c009011be358c80a1c2ebe59eef60c38e8685209f398d3d96192f15599fff?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f58c009011be358c80a1c2ebe59eef60c38e8685209f398d3d96192f15599fff?s=96&d=mm&r=g\",\"caption\":\"Patrick Landman\"},\"description\":\"As CEO and Founder of XOTELS, Patrick Landman has made it his mission to turn hotels and resorts into local market leaders. XOTELS\u00b4 diverse expertise and deep-knowledge across revenue management consulting, hotel management, and hotel consulting, enables us to drive results for independent boutique hotels, luxury resorts, and innovative lodging concepts. Below you will find opinion articles written by Patrick Landman.\",\"sameAs\":[\"https:\\\/\\\/www.xotels.com\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/in\\\/xotels\\\/\",\"https:\\\/\\\/x.com\\\/xotels\"],\"url\":\"https:\\\/\\\/www.xotels.com\\\/en\\\/author\\\/patrick\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Yield Management Definition \/ Meaning - Xotels","description":"Definition: Simply put, the purpose of Yield Management (aka Revenue Management) is to achieve maximum revenue\/profit.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.xotels.com\/en\/glossary\/yield-management","og_locale":"en_US","og_type":"article","og_title":"Yield Management Definition \/ Meaning - Xotels","og_description":"Definition: Simply put, the purpose of Yield Management (aka Revenue Management) is to achieve maximum revenue\/profit.","og_url":"https:\/\/www.xotels.com\/en\/glossary\/yield-management","og_site_name":"Xotels","article_published_time":"2020-04-14T09:29:42+00:00","article_modified_time":"2024-12-23T13:32:30+00:00","author":"Patrick Landman","twitter_card":"summary_large_image","twitter_creator":"@xotels","twitter_misc":{"Written by":"Patrick Landman","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":["Article","BlogPosting"],"@id":"https:\/\/www.xotels.com\/en\/glossary\/yield-management#article","isPartOf":{"@id":"https:\/\/www.xotels.com\/en\/glossary\/yield-management"},"author":{"name":"Patrick Landman","@id":"https:\/\/www.xotels.com\/en\/#\/schema\/person\/f51e882bd553ae1b905fc0214cdca6f5"},"headline":"Yield Management","datePublished":"2020-04-14T09:29:42+00:00","dateModified":"2024-12-23T13:32:30+00:00","mainEntityOfPage":{"@id":"https:\/\/www.xotels.com\/en\/glossary\/yield-management"},"wordCount":316,"publisher":{"@id":"https:\/\/www.xotels.com\/en\/#organization"},"articleSection":["Hotel Terminology &amp; Glossary","Y"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.xotels.com\/en\/glossary\/yield-management","url":"https:\/\/www.xotels.com\/en\/glossary\/yield-management","name":"Yield Management Definition \/ Meaning - Xotels","isPartOf":{"@id":"https:\/\/www.xotels.com\/en\/#website"},"datePublished":"2020-04-14T09:29:42+00:00","dateModified":"2024-12-23T13:32:30+00:00","description":"Definition: Simply put, the purpose of Yield Management (aka Revenue Management) is to achieve maximum revenue\/profit.","breadcrumb":{"@id":"https:\/\/www.xotels.com\/en\/glossary\/yield-management#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.xotels.com\/en\/glossary\/yield-management"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.xotels.com\/en\/glossary\/yield-management#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.xotels.com\/en"},{"@type":"ListItem","position":2,"name":"Hotel Terminology &amp; Glossary Cat","item":"https:\/\/www.xotels.com\/en\/glossary-cat"},{"@type":"ListItem","position":3,"name":"Y","item":"https:\/\/www.xotels.com\/en\/glossary-cat\/y"},{"@type":"ListItem","position":4,"name":"Yield Management"}]},{"@type":"WebSite","@id":"https:\/\/www.xotels.com\/en\/#website","url":"https:\/\/www.xotels.com\/en\/","name":"Xotels","description":"Xotels - Revenue Management Consulting","publisher":{"@id":"https:\/\/www.xotels.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.xotels.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.xotels.com\/en\/#organization","name":"Xotels - Hotel Management Company","url":"https:\/\/www.xotels.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.xotels.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.xotels.com\/wp-content\/uploads\/2022\/05\/xotels-hotel-management-company-logoOriginal-compress.webp","contentUrl":"https:\/\/www.xotels.com\/wp-content\/uploads\/2022\/05\/xotels-hotel-management-company-logoOriginal-compress.webp","width":196,"height":65,"caption":"Xotels - Hotel Management Company"},"image":{"@id":"https:\/\/www.xotels.com\/en\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/www.xotels.com\/en\/#\/schema\/person\/f51e882bd553ae1b905fc0214cdca6f5","name":"Patrick Landman","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/f58c009011be358c80a1c2ebe59eef60c38e8685209f398d3d96192f15599fff?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/f58c009011be358c80a1c2ebe59eef60c38e8685209f398d3d96192f15599fff?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f58c009011be358c80a1c2ebe59eef60c38e8685209f398d3d96192f15599fff?s=96&d=mm&r=g","caption":"Patrick Landman"},"description":"As CEO and Founder of XOTELS, Patrick Landman has made it his mission to turn hotels and resorts into local market leaders. XOTELS\u00b4 diverse expertise and deep-knowledge across revenue management consulting, hotel management, and hotel consulting, enables us to drive results for independent boutique hotels, luxury resorts, and innovative lodging concepts. Below you will find opinion articles written by Patrick Landman.","sameAs":["https:\/\/www.xotels.com\/","https:\/\/www.linkedin.com\/in\/xotels\/","https:\/\/x.com\/xotels"],"url":"https:\/\/www.xotels.com\/en\/author\/patrick"}]}},"_links":{"self":[{"href":"https:\/\/www.xotels.com\/en\/wp-json\/wp\/v2\/posts\/22746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.xotels.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.xotels.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.xotels.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.xotels.com\/en\/wp-json\/wp\/v2\/comments?post=22746"}],"version-history":[{"count":0,"href":"https:\/\/www.xotels.com\/en\/wp-json\/wp\/v2\/posts\/22746\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.xotels.com\/en\/wp-json\/wp\/v2\/media?parent=22746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.xotels.com\/en\/wp-json\/wp\/v2\/categories?post=22746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.xotels.com\/en\/wp-json\/wp\/v2\/tags?post=22746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}