Forecasting and optimisation for hotel revenue management

Autor:	Soulaymane Kachani, Christopher Chen
Rok vydání:	2007
Předmět:	Demand management Economics and Econometrics Revenue management Operations research business.industry Strategy and Management Software development E-commerce Flow network Business process management Economics Revenue Yield management Business and International Management business Finance
Zdroj:	Journal of Revenue and Pricing Management. 6:163-174
ISSN:	1477-657X 1476-6930
DOI:	10.1057/palgrave.rpm.5160082
Popis:	Over the past decade, revenue management techniques have been extensively developed in the airline and hotel industries. Much of the research has been on the optimisation front, which focuses on finding the optimal seat allocation policy to maximise revenue. There has been, however, less published work on forecasting issues. In this paper, we present a framework for forecasting and optimisation which we apply to the hotel industry. Based on real-life hotel booking data, we utilise various forecasting techniques and compare their performance. Because classical stochastic optimisation models are generally too hard to solve, we present a network flow formulation and report on computational results.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::1f2830adf119a99d0f51226778846a4a https://doi.org/10.1057/palgrave.rpm.5160082 Zobrazit plný text záznamu Plný text ve formátu PDF