Dynamic room pricing model for hotel revenue management systems
TLDR
A hotel revenue management model based on dynamic pricing is proposed to provide hotel managers with a flexible and efficient decision support tool for room revenue maximization and shows an increase in revenue compared to the classical model used in literature.About:
This article is published in Egyptian Informatics Journal.The article was published on 2011-11-01 and is currently open access. It has received 58 citations till now. The article focuses on the topics: Yield management & Revenue model.read more
Citations
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Use of dynamic pricing strategies by Airbnb hosts
TL;DR: In this article, the authors provide a comprehensive analysis of dynamic pricing by Airbnb hosts, using attribute and sales information from 39,837 listings and hotel data from 1,025 hotels across five markets to test different hypotheses which explore the extent to which Airbnb hosts use dynamic pricing and how their pricing strategies compare to those of hotels.
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Hotel decision-making during multiple crises: A chaordic perspective
TL;DR: In this paper, the decision-making process of Greek accommodation providers during a period characterised by multiple crises (recession; political and financial instability; social unrest; a refugee crisis) was investigated using fuzzy-set Qualitative Comparative Analysis.
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Dynamic pricing for hotel revenue management using price multipliers
TL;DR: In this article, the authors proposed a new dynamic pricing approach for the hotel revenue management problem based on having "price multipliers" that vary around "1" and provide a varying discount/premium over some seasonal reference price.
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Revenue management and price optimization techniques in the hotel sector: A critical literature review
TL;DR: In this article, the authors present, describe and classify the principal pricing and revenue management techniques in hotel sector literature, as well as the main contributions of the article are the presentation, description and classification of the principal RM and PO techniques.
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Availability management of hotel rooms under cooperation with online travel agencies
TL;DR: In this article, the authors proposed a method to manage availability in the context of a hotel cooperating with an online travel agency on room booking service, where customers can make reservations directly through the distribution channel of the hotel or indirectly through the OTA, if applicable, during the selling period.
References
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Book
The Theory and Practice of Revenue Management
TL;DR: In this article, the authors present the economics of RM, including single-resource capacity control, network capacity control and overbooking, as well as dynamic pricing and auctioning.
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Revenue Management: Research Overview and Prospects
Jeff McGill,Garrett van Ryzin +1 more
TL;DR: This survey reviews the forty-year history of research on transportation revenue management and covers developments in forecasting, overbooking, seat inventory control, and pricing, as they relate to revenue management.
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Dynamic Pricing in the Presence of Inventory Considerations: Research Overview, Current Practices, and Future Directions
TL;DR: In this paper, a review of the literature and current practices in dynamic pricing is presented, where the focus is on dynamic (intertemporal) pricing in the presence of inventory considerations.
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An interior algorithm for nonlinear optimization that combines line search and trust region steps
TL;DR: An interior-point method for nonlinear programming that enjoys the flexibility of switching between a line search method that computes steps by factoring the primal-dual equations and a trust region method that uses a conjugate gradient iteration.
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Commissioned Paper: An Overview of Pricing Models for Revenue Management
Gabriel R. Bitran,René Caldentey +1 more
TL;DR: This publication contains reprint articles for which IEEE does not hold copyright and which are likely to be copyrighted.