Successful Yield and Revenue Management in the Food and Beverage Department

Alicia Poth

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Seminar paper from the year 2017 in the subject Tourism - Hotel Management, grade: 1,0, Cologne Business School Köln, language: E...

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Beschreibung

Seminar paper from the year 2017 in the subject Tourism - Hotel Management, grade: 1,0, Cologne Business School Köln, language: English, abstract: This work aims to define yield and revenue management in general and further with special regards to the Food and Beverage Department. Furthermore, the history of revenue management will be inspected. Additionally, different offer - and promotion possibilities are being displayed, which hotels can implement in their strategy of improving their yield and revenue management. Yield management and revenue management as well as the food & beverage department are important in many tourism sectors. It is necessary to gain the right minimum amount of revenue for the department in order to be profitable. There are many possibilities to promote the respective departments such as the gourmet restaurant or the bar inside the hotel by word-of-mouth communication and displays in the rooms and outside the hotel by social media. Furthermore, there is a high potential of offers that can be adjusted to the departments in order to get enough customers.