| Article ID: | iaor2001340 |
| Country: | United States |
| Volume: | 34 |
| Issue: | 1 |
| Start Page Number: | 34 |
| End Page Number: | 41 |
| Publication Date: | Mar 1993 |
| Journal: | Cornell Hotel and Restaurant Administration Quarterly |
| Authors: | Liebermann Warren H. |
| Keywords: | financial, yield management |
This paper looks at ten popular misunderstandings about the role of yield management in the lodging industry. These myths are: 1. YM is a computer system; 2. YM takes control away from employees; 3. YM only works when demand exceeds supply; 4. YM is price discounting; 5. YM is incompatible with good customer service; 6. YM is too complex; 7. YM doesn't address ‘My problems’; 8. YM programmes automatically increase revenue; 9. Hotels using YM don't need to change a thing; 10. Hotels can't use YM if their competitors don't.