Book Club Finance

Yield Management

Yield Management I stumbled across this publication recently - not having been aware of the first edition, apparently published in 1997. In brief, it's the best treatment I have read of Yield/Revenue Management, although it is certainly not perfect.

Plus points:

1. The variety of contributions ensures that you're not just getting the view of one 'expert' - which is a problem with several books in this field.

2. The opening chapter, by Sheryl Kimes, is perhaps the best distillation of Yield Management theory I have read.

3. Most of the chapters are concise and to-the-point. The diagrams are generally helpful (with one or two glaring exceptions), and the book is usefully divided into four distinct parts.

4. Although the majority of the contributors are mostly from the UK, I found their perspectives refreshing. It's easy to forget that innovations in this field can come from outside the US.

Negative points:

1. It would have helped if each part of the book had its own introduction or overview. As it is, I felt like starting blind on occasions.

2. A couple of the chapters, particularly those on the Cruise Industry and the Football (or soccer!) Industry, were not relevant to me and I imagine would not be relevant to most other readers. They seemed to be written from a much more personal perspective than the rest of the book.

I would certainly recommend this collection to industry professionals wishing to expand their knowledge of this field. And for anybody starting out, it would be near essential reading.

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