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A variable pricing strategy based on understanding, anticipating, and influencing consumer behavior in order to maximize revenue from a fixed, perishable resource.

Products or services that cannot be sold after a certain point in time, resulting in lost revenue opportunities.

Adjusting prices continually in response to market demands and capacity constraints.

Accepting more reservations than there is available capacity to accommodate the risk of no-shows and cancellations.

A graph that shows the pattern of demand for a particular service or product leading up to the time of the service.

Restrictions placed on the minimum or maximum number of nights for which a guest can book a room.

The process of evaluating whether accepting a group booking will displace more profitable transient business.

Creating different price levels for a product based on certain criteria in order to segment the market.

Predicting future demand for a product or service to optimize pricing and availability.

Determining the number of units that can be sold at each discounted price level to maximize overall revenue.

A yield management formula used to determine the optimal price of an additional seat to a flight.

A measure of how the quantity demanded of a good responds to a change in the price of that good.

The process of managing the supply of assets or services to meet fluctuating demand in order to maximize efficiency and profitability.

A pricing concept in which a travel service provider ensures consistent rates for the same product across all distribution channels.

The practice of using different distribution channels, such as direct sales, online travel agents, or global distribution systems, to sell services, and managing their prices and availability effectively.

Encouraging customers to purchase a higher-priced item, upgrade, or add-on in order to make a more profitable sale.

The use of past data, such as sales figures and booking patterns, to predict future trends and customer behaviors in yield management.