Yield Management In The Hotel Industry Tourism Essay

Yield Management In The Hotel Industry Tourism Essay Yield management was practice over the last fifteen to twenty years. According to Kimes, the yield management principle was first developed in the airline industry. Yield management systems primarily used in service industries like hotels, restaurants, airlines, train. Generally, companies used yield management systems to maximize their revenue or yield. Smith, Leimkhuler, Darrow Samules (1992) defined yield management as a sophisticated form of managing supply and demand by acting at the same time on price and on available capacity. It is the best way to propose the best service on the best customer with the best price and at the best moment. According to Kimes (2002), yield management is methods that can help a firm sell the right inventory to the right customer at the right time for the right price. So, yield management can be defined as an approach to sell the same product at the same time to the customers by charging different prices. Yield management in hotel industry was evolved over the last ten years and many authors (Evangelista, 1999; Novelli, Schmitz Spencer, 2006) confirm that there is a notable tendency to use new technologies in hotel industry. Yield management in hotel industry is concerned about the number of rooms that should be sold and at what price should be charge to customers. The objective of using yield management in hotel industry is to maximizing revenue per every available room. Jaucey, Mitchell Slamet (1995) stated that yield management is an integrated, continuous and systematic approach to maximizing room revenue through the manipulation of room rates in response to forecasted patterns of demand. They suggest that yield management requires a close analysis of historical information to predict customers demand. Yield management is suitable to use in hotel industry because it fulfill some characteristics of these system. According to Kimes (1989), yield management can be used when the following conditions are met. There are fixed capacity; segmentation into different market segment is possible; the inventory of the product is perishable; the products can be sold in advance; fluctuating demand; low marginal sales costs and high marginal production costs. Once the hotel was built, it is difficult and expensive to increase the capacity. Therefore, the hotel manager must use the existing capacity in the best way in order to maximize room revenue. So, yield management systems can help hotel manager address this problem by predict the customers demand. To make the yield management systems work, the company must be able to segment their market into different types of customers. Hotel manager should have different marketing plans for every market segment. So, every customers need can be fulfill. Customers can be categorized and grouping together with those have similar characteristics, it is called market segment. There are three components of market segmentation. First, the characteristics of each customer group are defining and grouping. Second, implementing a demand model to customers and specify their attitudes about a reference transaction. The third component is their willingness to pay. Of course, hotel rooms are perishable inventory item. When a room is not sold for one night, there is no income for this room at that night. Hotel manager cannot put the room into inventory and use it at other time. Airlines and rental car industry also face the same problem. Some hotels sell most of their rooms in advance, but in some situation, reservations are made well in advance of the day desired. When the rooms are sold in advance, hotel manager faced with uncertainty. Some questions are appearing like charge a low rate price to the group of customers or wait the customer who willing to pay higher price appear? Are the customers who willing to pay higher price will reserved for the same rooms? So, these questions can be address by using yield management systems. Hotel industry is the industry which faces fluctuating demand patterns. Customers demand are varies in a year. Yield management system helps manager predict the demand fluctuation and manager can plan some strategies to maximize their revenue. For example, higher price can charge to customers during the peak demand like school holidays or public holidays; otherwise, manager can decrease the price during the slow time. Hotel industry also met the characteristic of low marginal sales costs. When a room was sold, it does not incur much more cost to sell another room. This is because the hotel and staff already at place. On the other hand, hotel industry faces high production costs. When all rooms were sold, and a customer wants a room, additional rooms are cannot simply built because the capacity was fixed. Yield management systems may result in many advantages to the company and give that company a competitive edge. Many studies have shown the positive effect on the performance of the company by using yield management systems. Esse (2003) shows that yield management allows a company to offer customers high contribution, which develops a much better performance. Apart from this, yield management systems also may results in some problem to companies. It could result in alienated customers. There are highly competitive in hotel industry, customers may not want to pay different price for the same room. So, they might feel unfair and go to the competitors who charge lower price. According to Kimes (2002), the customer perceives a product price as fair for the price of a good to increase if the costs increase in order to maintain profit. They however dont feel that increasing the price in order to increase the profit is a fair practice. To address the problem of alienated customers, Kimes (2002) suggest three solutions to it. First, the company giving the customer a higher reference price and then providing them with discounts. Second solution, adding additional services to the product and then increase the price. The third solution is selling the product as part of a package. The final solution is attaching restrictions to the discounts as to make the discounts be perceived as being fair. Employee morale problems may occur when the company use yield management. Yield management systems are more about guesswork of how many rooms to sell and what price to charge, but it also requires judgment from hotel employees. If the systems are not structure well to allow some latitude into the price setting, the people who will use it may be grow to resent the system. Besides that, yield management systems also can cause problem on incentive and reward systems. Yield management systems can cause problem for group sales department. Reward or incentive of salespeople in these department are depends on the amount of sales they make. When sales increase, their reward or incentives also increase. But a yield management system might indicate that the low rate price for a group sale is not beneficial. So, the incentive and reward systems must be changed. If not, the salespeople might think that the implementation of yield management is work against them. To ensure the yield management systems effective, an extensive training of all employees are needed. Every employee must understand the purpose of implementing the yield management, how it works, and what the effect of the system on their jobs. So, it needs a careful planning and training from top management. Finally, commitments from top management are very important. Without this, yield management systems will fail. So, the hotel manager must strongly commit to it, have the necessary data and have a strong information system. Hotel manager must fully understand the implications of implementing yield management systems on managerial aspect and able to make adjustment. http://www.turpade.org/docs/articulos/2008_OCT_Yield_Management.pdf http://www.timsmet.com/literature%20review.pdf http://www.cheaphosting4you.com/casadana.net/pgdh/CORNELL/Center%20for%20Hospitality%20Research%20-%20Reports/Basics%20of%20Yield%20Management.pdf http://www.yield4education.com/literature-review

Central Route

Describe how each side used central route or peripheral route influence principles to effect the negotiation outcomes These two â€Å"routes to persuasion† are 1) the â€Å"central† route and 2) the â€Å"peripheral† route. An individual who is using the â€Å"central† route will be more engaged in processing and evaluating the merit of the opposing parties proposal. This â€Å"route† is much more analytical and is concerned with the actual logistics of the proposal/argument.An individual engaging in the â€Å"peripheral† route, by contrast, will focus less on the actual merit and logic of opposing counsels arguments and instead will be more influenced by things that are more peripheral to the issue at hand, such as the physical attractiveness of the person trying to persuade them, or presentation or â€Å"packaging. † It is very important for negotiators to realize that numerous factors can influence their negotiation partners to use either one of these two â€Å"routes†. It would be a mistake to assume that an opposing party will always operate in the same way based on immutable factors such as education or intelligence.Something as simple as not having gotten enough sleep, or being hungry, can have a huge effect on how the opposing party will process your arguments during negotiation, making even a savvy or intelligent negotiator more likely to use the â€Å"peripheral† route. The Central Route to Persuasion: Research has established that decision’s reached using the â€Å"central† route to persuasion are generally going to be more satisfying and beneficial to parties in the long run. However, It is important for negotiators to be aware that they only want to encourage this type of decision-making if they have something of true value to offer the opposing party.Once you have determined you have something of value, the first great way to encourage this type of thinking is to discuss the issues in the negotiation as a joint problem-solving venture. This type of prompting will encourage the opposing party to look at the situation in a detailed and thoughtful way. Next, it is important to reduce distractions during negotiations if you wish to encourage this type of analysis. A simple way to do this is to ensure that you will have a quiet, distraction free environment for the negotiation where the opposing party will feel calm and comfortable.Finally, recommending open dialogue where all individuals are required to give in-put encourages individual responsibility and independent thinking among opposing parties. This can be a great way to solicit the â€Å"central† route to persuasion. When people are placed in a position of responsibility and the burden is placed on them to come up with creative and effective ways the attack the problem, they are much more likely to deeply analyze the arguments and proposals made by the other side. The Peripheral Route of Pe rsuasion:Clearly, the â€Å"peripheral† route to decision making is far less attractive when negotiators are seeking a long lasting, sustained result. Individuals who use this route to persuasion often are influenced by superficial factors such as the clothing, appearance or job title of the opposing party. These negotiators also use mental short cuts and make decisions without closely analyzing the relevant facts and consequences of the opposing parties proposal. Because this route to persuasion is less likely to result in a long lasting, sustained agreement it is only advisable to use in specific situations.Namely, those in which a short-term solution is all that is desired. The easiest and most effective way to encourage this type of decision-making is through use of the â€Å"expertise heuristic†. A mental short cut used by those engaged in the peripheral route to persuasion. This mental short cut can essentially be summed up like this: people tend to defer to perc eived authorities or experts when making decisions without thoughtful analysis. Therefore, it could be extremely useful to emphasize skill and knowledge in the area of negotiation in order to encourage this type of analysis by the opposing party.

Golkonda Fort Essay

The 13th century Golconda Fort was built by the Kakatiya kings. In the 16th century, Golkonda was the capital and fortress city of the Qutb Shahi kingdom, near Hyderabad. The city was home to one of the most powerful Muslim sultanates in the region and was the center of a flourishing diamond trade. Golkonda was located 11 km west of the city of Hyderabad. According to a legend, the fort derives its name from Golla Konda, which is a Telugu word for Shepherd’s Hill. It is believed that a shepherdboy came across an idol on the hill. This led to the construction of a mud fort by the then Kakatiya dynasty ruler of the kingdom around the site. The city and fortress are built on a granite hill that is 120 meters (400 ft) high and is surrounded by massive crenelated ramparts. The beginnings of the fort date to 1143, when the Hindu Kakatiya dynasty ruled the area. The Kakatiya dynasty were followed by the state ofWarangal, which was later conquered by the Islamic Bahmani Sultanat. The fort became the capital of a major province in the Sultanate and after its collapse the capital of the Qutb Shahi kings. The fort finally fell into ruins after a siege and its fall to Mughal emperor Aurangazeb. After the collapse of the Bahmani Sultanat, Golkonda rose to prominence as the seat of the Qutb Shahi dynasty around 1507. Over a period of 62 years the mud fort was expanded by the first three Qutb Shahi kings into a massive fort of granite, extending around 5 km incircumference. It remained the capital of the Qutb Shahi dynasty until 1590 when the capital was shifted to Hyderabad. The Qutb Shahis expanded the fort, whose 7 km outer wall enclosed the city. The state became a focal point for Shia Islam in India, for instance in the 17th century Bahraini clerics, Sheikh Ja`far bin Kamal al-Din and Sheikh Salih Al-Karzakani both emigrated to Golkonda.[4] The Qutb Shahi sultanate lasted until its conquest by Mughal emperor Aurangzeb in 1687. The fortress held out against Aurangzeb for nine months, falling to the Mughals through treachery. Kancharla Gopanna, popularly known as Bhaktha Ramadaasu, a devout Hindu who constructed Bhadrachalm temple without informing the sultan at that time Tana Shah, was kept in a jail located inside the fort. Golkonda consists of four distinct forts with a 10 km long outer wall with 87 semicircular bastions (some still mounted with cannons), eight gateways, and four drawbridges, with a number of royal apartments & halls, temples, mosques, magazines, stables, etc. inside. The lowest of these is the outermost enclosure into which we enter by the â€Å"Fateh Darwaza† studded with giant iron spikes near the south-eastern corner. At Fateh Darwaza can be experienced a fantastic acoustic effect, characteristic of he engineering marvels at Golkonda. A hand clap at a certain point below the dome at the entrance reverberates and can be heard clearly at the ‘Bala Hisar’ pavilion, the highest point almost a kilometre away. This worked as a warning note to the royals in case of an attack. The whole of the Golconda Fort complex and its surrounding spreads across 11 km of total area, and discovering its every nook is an arduous task. A visit to the fort reveals the architectural beauty in many of the pavilions, gates, entrances and domes. Divided into four district forts, the architectural valour still gleams in each of the apartments, halls, temples, mosques, and even stables. The graceful gardens of the fort may have lost their fragrance, for which they were known 400 years ago Bala Hissar Gate is the main entrance to the fort located on the eastern side. It has a pointed arch bordered by rows of scroll work. The spandrels have yalis and decorated roundels. The area above the door has peacocks with ornate tails flanking an ornamental arched niche. The granite block lintel below has sculpted yalis flanking a disc. The design of peacocks and lions is a blend of Hindu – Muslim architecture. Toli Masjid, situated at Karwan, about 2 km from the Golkonda fort, was built in 1671 by Mir Musa Khan Mahaldar, royal architect of Abdullah Qutb Shah. The facade consists of five arches, each with lotus medallions in the spandrels. The central arch is slightly wider and more ornate. The mosque inside is divided into two halls, a transverse outer hall and an inner hall entered through triple arches. Much thought went in to building this gate. A few feet in front of the gate is a large wall. This prevented elephants and soldiers (during enemy attacks) from having a proper ramp to run and break the gate. The fort of Golconda is known for its magical acoustic system. The highest point of the fort is the â€Å"Bala Hissar†, which is located a kilometer away. The palaces, factories, water supply system and the famous â€Å"Rahban† cannon, within the fort are some of the major attractions. It is believed that there is a secret underground tunnel that leads from the â€Å"Durbar Hall† and ends in one of the palaces at the foot of the hill. The fort also contains the tombs of the Qutub Shahi kings. These tombs have Islamic architecture and are located about 1 km north of the outer wall of Golconda. They are encircled by beautiful gardens and numerous exquisitely carved stones. It is also believed that there was a secret tunnel to Charminar. The two individual pavilions on the outer side of Golconda are also major attractions of the fort. It is built on a point which is quite rocky. The â€Å"Kala Mandir† is also located in the fort. It can be seen from the king’s durbar (king’s court) which was on top of the Golconda Fort. The wonderful acoustic system of Golconda fort speaks volumes about the architecture of the fort. This majestic structure has beautiful palaces and an ingenious water supply system. Sadly, the unique architecture of the fort is now losing its charm. The ventilation of the fort is absolutely fabulous having exotic designs. They were so intricately designed that cool breeze could reach the interiors of the fort, providing a respite from the heat of summer.

The Color of Water and Malcolm X - 1155 Words

Abraham Maslow’s theory of â€Å"Hierarchy of Needs† consists of 5 things humans need. From top to bottom, top being the more complex needs and the bottom the more basic needs is; Self-Actualization, esteem, love/belonging, safety, and physiological. Self-actualization is the level of need that pertains to what a person’s full potential is and realizing that potential. It is broken up as morality, spontaneity, and lack of prejudice. Based on the two texts I read, The Color of Water by James McBride and The Autobiography of Malcolm X as told by Alex Haley, I consider both James McBride and Malcolm X â€Å"self-actualized† men to a certain extent. James McBride is a â€Å"self-actualized† man to a certain extent because throughout his life he had a†¦show more content†¦The reason why I keep referring to chapter 14 isn’t because it’s the only chapter I’ve read, but because I feel as though this is a very important chapter that gives you a clear view of what James was going through in his teenage years and how these events made him grow up into the man he is today. When Malcolm X was young he lacked morals like most of us. It wasn’t until Malcolm was arrested and sentenced to 10 years in prison when became a Muslim and adopted morals. In chapter 2 of Malcolm X’s autobiography Malcolm attempts to be a boxer but ends up getting beaten by the same white boy twice. Malcolm says â€Å"A lot of times in these later years since I became a Muslim, I’ve thought back to that fight and reflected that it was Allah’s work to stop me: I might have wound up punchy.† This shows me that ever since Malcolm became a Muslim he no longer believed in physical violence. Supposedly there are six steps in becoming â€Å"self-actualized† I chose to focus on morality, lack of prejudice, and spontaneity because they stood out the most to me and seemed like excellent topics to focus on. The other steps are creativity, problem solving and acceptance of facts and both men have these accomplished these skills as well. When Malcolm finally went to school he was told by his teacher he could never be a lawyer and he accepted that because in those times it was rare for an African American to have aShow MoreRelatedCivil Rights Activist, Malcolm X1028 Words   |  4 PagesMalcolm X We didnt land on Plymouth Rock, Plymouth Rock landed on us.(Malcolm X).Even though Elijah Muhammad was bad to all these women and had gotten them pregnant. Malcolm X still believed in the thought of Muslims ways and Elijah’s teachings , especially when everything was segregated between whites and blacks adding on, Malcolm X had a bad past with white people. Malcolm X’s trip to Mecca had made him perceive something new. There in Mecca everyone was equal, the white man there wereRead MoreMartin Luther King Jr. And Malcolm X811 Words   |  4 Pagesmisconstrued as a harangue. To be more precise, Malcolm X’s outcries can be deemed as both impolitic and radical. There is often a dichotomy between Martin Luther King Jr. and Malcolm X. 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