Loosely speaking, revenue management (AKA “yield management”), a cornerstone of successful hotel operations, follows a formula: sell the right product to the right customer at the right time for the right price. Hoteliers accomplish this by effectively balancing occupancy and rate strategies to maximize revenue. This article lays out the essential tenets and components of revenue-management practices, including how they relate to a hotel’s revenues and value. Get the full story at HVS