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. As a specific, inventory-focused branch of revenue management, yield management involves strategic control of inventory to sell the right product 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."
Computer reservation systems, or central reservation systems (CRS), are computerized systems used to store and retrieve information and conduct transactions related to air travel, hotels, car rental, or other activities. Originally designed and operated by airlines, CRSs were later extended for use by travel agencies, and global distribution systems (GDSs) to book and sell tickets for multiple airlines. Most airlines have outsourced their CRSs to GDS companies, which also enable consumer access through Internet gateways.
Sabre Global Distribution System, owned by Sabre Corporation, is a travel reservation system used by travel agents and companies to search, price, book, and ticket travel services provided by airlines, hotels, car rental companies, rail providers and tour operators. Originally developed by American Airlines under CEO C.R. Smith with the assistance of IBM in 1960, the booking service became available for use by external travel agents in 1976 and became independent of the airline in March 2000.
Sabre Corporation, a travel technology company headquartered in Southlake, Texas, is the largest global distribution systems (GDS) provider for air bookings. The company's primary product, the Sabre Global Distribution System, and others like it, act as neutral intermediaries, connecting travel suppliers like airlines and hotels with travel sellers like agencies. They offer real-time availability and pricing, making them important for corporate travel management.
A passenger name record (PNR) is a record in the database of a computer reservation system (CRS) that contains the itinerary for a passenger or a group of passengers travelling together. The concept of a PNR was first introduced by airlines that needed to exchange reservation information in case passengers required flights of multiple airlines to reach their destination ("interlining"). For this purpose, IATA and ATA have defined standards for interline messaging of PNR and other data through the "ATA/IATA Reservations Interline Message Procedures - Passenger" (AIRIMP). There is no general industry standard for the layout and content of a PNR. In practice, each CRS or hosting system has its own proprietary standards, although common industry needs, including the need to map PNR data easily to AIRIMP messages, has resulted in many general similarities in data content and format between all of the major systems.
An electronic ticket is a method of ticket entry, processing, and marketing for companies in the airline, railways and other transport and entertainment industries.
Amadeus IT Group, S.A. is a major Spanish multinational technology company that provides software solutions for the global travel and tourism industry. It is the world's leading provider of travel technology that focus on developing software for airlines, hotels, travel agencies, and other travel-related businesses to enhance their operations and customer experiences.
A global distribution system (GDS) is a computerised network system owned or operated by a company that enables transactions between travel industry service providers, mainly airlines, hotels, car rental companies, and travel agencies. The GDS mainly uses real-time inventory from the service providers. Travel agencies traditionally relied on GDS for services, products and rates in order to provide travel-related services to the end consumers. Thus, a GDS can link services, rates and bookings consolidating products and services across all three travel sectors: i.e., airline reservations, hotel reservations, car rentals.
The Airline Tariff Publishing Company is a privately held corporation that engages in the collection and distribution of fare and fare-related data for the airline and travel industry. ATPCO currently works with more than 440 airlines worldwide, and it supplies more than 99% of the industry’s intermediated fare data to all the major airfare pricing engines, storing over 351 million active fares in its database and managing an average of 18 million fare changes each day.
An airline ticket is a document or electronic record, issued by an airline or a travel agency, that confirms that an individual is entitled to a seat on a flight on an aircraft. The airline ticket may be one of two types: a paper ticket, which comprises coupons or vouchers; and an electronic ticket.
Videcom International Limited is a United Kingdom travel technology company based in Henley-on-Thames. It designs, develops and provides modern computer reservations systems to airlines and the travel industry, specializing in the hosting and distribution of airline sales.
Alternate air ticket purchasing order systems allow for alternative ways of purchasing air tickets and GDS Connectivity not involving Internet or personal TA contact.
A fare basis code is an alphabetic or alpha-numeric code used by airlines to identify a fare type and allow airline staff and travel agents to find the rules applicable to that fare. Although airlines now set their own fare basis codes, there are some patterns that have evolved over the years and may still be in use.
Starting in 1946, American Airlines developed a number of automated airline booking systems known as Reservisor. Although somewhat successful, American's unhappiness with the Reservisor systems led them to develop the computerized Sabre system used to this day.
TravelSky Technology Limited is the dominant provider of information technology services to the Chinese air travel and tourism industries. Its clients include airlines, airports, air travel suppliers, travel agencies, individual and corporate travel consumers and cargo services. It is listed on the Hong Kong stock exchange and its majority shareholder or parent group is the China TravelSky Holding Company, a State-owned enterprise (SOE).
Axess (アクセス国際ネットワーク) is a computer reservations system based in Japan which provides its services in the Japanese market. It originated as the IT department of Japan Airlines called Jalinfotech. In 1991 it was established as an independent company it began to be marketed to travel agencies in Japan. In 1995 Axess partnered with Sabre Holdings in order to provide travel agencies in Japan with booking and ticketing capabilities for a wider range of international airlines.
In the aviation industry, a pseudo city code,pseudo-city code, or office ID, is an alpha-numeric identifier for a corporate user of a computer reservation system (CRS) or global distribution system (GDS), typically a travel agency. The codes are typically 3 or 4 characters long,, and are unique to a specific office of a travel agency. They are used to associate each agency's bookings with the agency, and also to identify private fares available to the agency.
Navitaire LLC is a subsidiary of Amadeus IT Group. Navitaire primarily offers systems for passenger reservations, travel commerce, ancillary revenue and merchandising, as well as revenue accounting and revenue management to airlines and rail companies.
E-kvytok —is the first online operator in Ukraine that made it possible to purchase train tickets. It was created by the state enterprise AT "Ukrainian Railways" JSC.
An airfare is the fee paid by a passenger for air transport and is made up of the charge for a passenger to fly from an origin to destination and includes the conditions, rules and restrictions for travelling on the airfare.
