Yield Management – Management of Income in Touristic Enterprise

Abstract

A touristic market characterizes, first of all, with concentration of demand in time and space, that is with considerable seasonality during a year, month, week, and even day and concentration of demand in so called attractive touristic regions, and also with considerable dependence of demand on accidental factors (the weather, terroristic attacks, fashion). However, on the side of supply on a touristic market there is a close relationship between an enterprise and supply with space, that is, dependence of an enterprise on its location, stiffness of supply and the lack of the possibility of current, considerable increase of service abilities under the influence of changing demand, a risk of sale connected with features of service, and in peculiarity with the lack of possibility of their storing. Taking into consideration these features of a market touristic enterprises have worked out the whole scale of methods and tools of operational management to be able to react at once on changes in touristic demand and prevent from the loss of receipts.