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| Topic: |
Business
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| Number of pages / Number of words: |
9 / 2502 |
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Yield management aims to optimize both these variables simultaneously (McMahon-Beattie and Donaghy: 2000) and this can easily be seen in Orkin?¦s (1988) efficiency statistic:
In addition, Orkin (1988) realized revenue is ??actual sales receipts?¦ and potential revenue is ??income that could be secured if 100 per cent of available rooms are sold at full rack rate?¦ (Cited in McMahon and Donaghy 2000: 235)
However, Donaghy et al (1995) and McMahon and Donaghy (2000) challenged Orkin?¦s definition, they points out due to many hotels are rely on discounted leisure and/or conference guests and there are no industry specific criteria for the establishment of the rack rate, the use of the yield efficiency statistic result may be unrealistic and misleading in comparisons across hotels...
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In addition, Jauncey et al (1995:25) defines that ?§Yield Management is an integrated, continuous and systematic approach to maximizing room revenue through the manipulation of room rates in response to forecasted patterns of demand.?? According to their definitions, the accurate forecast demand, allocation capacity, market segment and optimum price are the essential issues for hotelier to manipulate different room rates in order to maximize room revenue...
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General points of the essay
The Credibility of Expository Texts RE 'Unzipped' - Bronwyn Donaghy
Jim McMahon
Choice Hotels International, 1995
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Informix Revenue Recognition
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Revenue Management
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Revenue
revenue and profits
SWOT ANALYSIS Vince McMahon
Vince McMahon
Revenue Recognition
Revenue Cycle Management
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