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These are also used to relay computerized information for users in the hotel industry, making reservation and ensuring that the hotel is not overbooked. Airline reservations systems may be integrated into a larger passenger service system, which also includes an airline inventory system and a departure control system. The current centralised ...
Yield management (YM) is a variable pricing strategy, based on understanding, anticipating and influencing consumer behavior in order to maximize revenue or profits from a fixed, time-limited resource (such as airline seats, hotel room reservations, or advertising inventory). [1]
A couple of days prior to carrier departure/hotel check-in any unsold seats/rooms may be released back to the supplier if such an agreement exists between the two parties. An allotment release back period is also negotiated as part of the allotment contract (e.g. four days prior to check-in/departure).
By lowering prices on products, a company can overcome weak demand and gain market share, which ultimately increases revenue. On the other hand, in situations where demand is strong for a product but the threat of cancellations rooms (e.g. hotel rooms or airline seats), firms often overbook in order to maximize revenue from full capacity.
An opaque inventory is the market of selling unsold travel inventory at a discounted price. The inventory is called "opaque" because the specific suppliers (i.e. hotel, airline, etc.) remain hidden until after the purchase has been completed. This is done to prevent sales of unsold inventory from cannibalizing full-price retail sales.
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IHG Army Hotels is a collection of private-sector hotels located on Army installations and Joint Bases throughout the United States. It is the result of a partnership between IHG Hotels & Resorts (IHG), Holiday Inn Express (IHG), and Lendlease .