Yield management is an economic technique to understand, anticipate and calculate the best pricing policy for optimizing profits generated by the sale of a product or service, based on real-time modelling and forecasting of demand behaviour. It allows companies to maximise revenues, given market demand, schedules, competition and fares. Yield management became an essential tool in cruise shipping companies as a result of the strong competitiveness and the complexity of fares and fares types that emerged in a rapidly changing mar-ket. It involves the management of cabin access through a reservations control system in order to maximise total passenger revenue per cruise.
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