Yield management is a vital businesses function that has been in the hotel and airline industries for some time. It has extended to other industries, such as logistics and theme parks, and businesses that involve fixed investments.
The University of Hong Kong's School of Professional and Continuing Education (HKU Space) offers a postgraduate diploma in yield management for yield managers to improve company revenue through effective allocation of resources.
This is the first such programme in Hong Kong. Programme director Dr Paul Leung Kin-hang sees yield management as an integral part of business, especially in service oriented sectors.
'This is a formal course to provide students with practical experience, systematic training and an opportunity to upgrade their knowledge and skills in yield management,' Leung says.
'Students will be able to critically contrast the characteristics of different industries practising yield management and, more importantly, to devise and defend creative yield management resolutions with systematic analysis.'
The course is mostly delivered through classroom training with industry practitioners.
There are also visits to hotels or convention centres where the front desk manager will explain how to control yield.
To accommodate students who work, lessons will take place on weekday evenings and weekends. The programme takes 18 months to complete.
Applicants should possess an undergraduate degree from a recognised university or comparable institution and have at least five years of working experience, including three years at a supervisory level.
Karen Cheung Kin-ping, a student on the programme, is an associate revenue management analyst in an international logistic business. The philosophy of yield management has impressed her.