Due in part to the assistance of yield management procedures, it is generally accurate to say that the most expensive rates are charged to the last rooms sold. Similarly, the lowest rates are available far in advance, when few rooms have yet been sold for the date in question.

Question

Quizplus · Accepted Answer

Yield management, also known as revenue management, is a strategy used by hotels and other accommodation providers to maximize revenue. It involves adjusting prices based on demand, so when few rooms are sold and demand is low, prices are lower to attract bookings. As demand increases and fewer rooms are available, prices increase, making the last rooms sold often the most expensive.

Due in Part to the Assistance of Yield Management Procedures