Sample interview questions: Can you provide examples of strategies you have used to optimize hotel revenue through effective yield management?
Sample answer:
- Implement dynamic pricing: Adjust room rates in real-time based on demand, occupancy, and competitive pricing.
- Segment demand: Identify and target specific customer groups with tailored pricing strategies that maximize revenue.
- Utilize revenue management software: Employ specialized tools to analyze market data, forecast demand, and optimize pricing.
- Offer tiered pricing: Create multiple price points for different room categories, amenities, and dates of stay.
- Implement length-of-stay (LOS) restrictions: Set minimum and maximum stay requirements to influence demand and maximize revenue during peak periods.
- Use advance purchase discounts: Offer incentives to g… Read full answer
Source: https://hireabo.com/job/11_0_15/Assistant%20Hotel%20Manager