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Assessing the Benefits of Yield Management in the Hospitality Industry in Kumasi Metropolis of Ghana

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  • Owusu Boahen

    (School of Business, Department of Information Systems and Decision Sciences, Kwame Nkrumah University of Science & Technology, Ghana)

  • Emmanuel Kweku Quansah

    (School of Business, Department of Information Systems and Decision Sciences, Kwame Nkrumah University of Science & Technology, Ghana)

  • Owusu Kwame Sarpong

    (Department of Purchasing and Supply, Kumasi Polytechnic, Ghana)

Abstract

Ghana's hotel industry has a great deal of potential for future development. However, revenue loss due to lost opportunity arising from unused rooms or no shows is a challenge facing the industry. Maximizing revenue is important in the industry because of high costs of operation. Yield Management (YM) offers one of the potential revenue maximization strategies in the hotel business operations. This study aims at evaluating the effect of yield management practices on business operations in the hotel industry in the Kumasi Metropolis of Ghana. The study adopted a combination of qualitative and quantitative approach. The study relied on primary data which was collected through field survey using semi-structured interview and questionnaires instruments. Descriptive statistics was used to analyse qualitative data whilst the qualitative data was analysed through deduction and inferences. The study revealed that that the implementation of yield management has positive impact in hotel business operations in the Kumasi Metropolis in terms of profitability competitive advantage operational efficiency productivity and cost saving. It is recommended that the hotel industry, particularly in the Kumasi Metropolis, should invest in information technology education as well as staff training to improve their skill capacity since effective practices YM depends on effective information system.

Suggested Citation

  • Owusu Boahen & Emmanuel Kweku Quansah & Owusu Kwame Sarpong, 2013. "Assessing the Benefits of Yield Management in the Hospitality Industry in Kumasi Metropolis of Ghana," International Journal of Business and Social Research, LAR Center Press, vol. 3(9), pages 17-25, September.
    • Handle: RePEc:lrc:larijb:v:3:y:2013:i:9:p:17-25
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    File URL: http://thejournalofbusiness.org/index.php/site/article/view/277/296
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    References listed on IDEAS

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    1. Jeffrey I. McGill & Garrett J. van Ryzin, 1999. "Revenue Management: Research Overview and Prospects," Transportation Science, INFORMS, vol. 33(2), pages 233-256, May.
    2. Gabriel Bitran & René Caldentey, 2003. "An Overview of Pricing Models for Revenue Management," Manufacturing & Service Operations Management, INFORMS, vol. 5(3), pages 203-229, August.
    3. Wen-Chyuan Chiang & Jason C.H. Chen & Xiaojing Xu, 2007. "An overview of research on revenue management: current issues and future research," International Journal of Revenue Management, Inderscience Enterprises Ltd, vol. 1(1), pages 97-128.
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    Cited by:

    1. Sercan Aras & Ahmet Buyusalvaric & Halil Akmese, 2018. "Revenue Management Practices in Hospitality Industry: A Research on Hotels in Konya, Turkey," International Journal of Business and Administrative Studies, Professor Dr. Bahaudin G. Mujtaba, vol. 4(2), pages 45-52.

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