Abstract

GUADIX MARTIN, José et al. Yield management applied to the hotel industry: a mathematical modeling approach. Cuad. Adm. [online]. 2008, vol.21, n.35, pp.189-203. ISSN 0120-3592.

Service sector companies, characterized by the simultaneous nature of service production and consumption, do not have a product storage system because their products are perishable. The philosophy behind the yield management technique is to sell each unit of stock to the right type of customer, at the right time, and at the right price. Using those criteria, customers are assigned to distinct stock categories, to take the best advantage of the existing demand, for the purpose of maximizing revenues or profits. Using mathematical models, this article applies the yield management technique to hotel industry companies in Spain and validates it.

Keywords : Yield management; service sector; mathematical modeling; demand forecasting.

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