Social and Behavioral Sciences Commons^™

Revenue Maximisation; An Examination Of The Influences Of Heuristics And Biases On The Yield Management Decision Process In Dublin Hotels, Tony Kiely

Conference papers

Yield management in hotels has been described as a method of profitably managing fixed room capacity. A critical element of yield management is the decision strategy employed, as this determines the degree to which optimum financial solutions are generated. Recent research has indicated that the use of technology assisted decision optimising models, specifically the management science model of decision making, would greatly improve decision optimisation, by minimising the need to employ guesswork in achieving financial goals. However, despite this assurance, yield management remains couched in uncertainty through being inextricably associated with forecasting future demand for a perishable product in an …