What member of the Hall of Honor of the Conrad Hilton college gave yield management its name?
Yield management Yield management 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 or hotel room reservations or advertising inventory). As a specific, inventory-focused branch of revenue management, yield management involves strategic control of inventory to sell it to the right customer at the right time for the right price. This process can result in price discrimination, in which customers consuming identical goods or services are charged different prices. Yield management is a large revenue generator for several major industries; Robert Crandall, former Chairman and CEO of American Airlines, gave yield management its name and has called it "the single most important technical development in transportation management since we entered deregulation."
Richard A. Compton Richard A. Compton (July 9, 1926 – 1993) of Ithaca, New York was an American educator, hotelman and expert in the facilities management within resort and entertainment industry. Trained as an engineer and not as a hospitality service provider, Compton was among the first to organize the emerging study of hotel management along the same rigorous research criteria applied to other academic disciplines.