Yield management is used not just to increase sales; it serves to forecast revenue by analyzing demand, which is influenced by a number of important factors. This concept is very similar to revenue management, but has been around for longer. However, yield management has a narrower focus and is concerned with selling price and sales volume so as to reach the best revenue yield.
Hence, yield management can be viewed as a tactic rather than a whole strategy. You can apply it to analyzing separate goods or services, not your whole business, because it disregards some aspects. Revenue management is a more complex approach because it takes into consideration many more variables: metrics, market peculiarities, and so on.
In the context of the hotel industry, revenue management should not be confused with reservation management. The latter is a part of a service strategy, which includes distributing rooms into categories, interacting with clients, working with VIP guests, converting calls into bookings, and so on.