Revenue Maximization for the Hotel Industry Through Nested Booking Limit Procedures

• Chang, Sung-Ho ^[1] ; García-Díaz, Alberto ^[1] ; Var, Turgut ^[1]
  1. [1] Texas A& M University
• Localización: Tourism analysis, ISSN 1083-5423, Vol. 3, Nº. 1, 1998, págs. 53-56
• Idioma: inglés
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• Resumen

  • The main objective of this research note is to develop an efficient procedure for solving the tactical-level decision problem in the hotel industry. The suggested approach captures essential elements of revenue maximization (RM): (1) dynamic model formulation for single-night reservation requests, (2) multinight stays, (3) nested room allocation, (4) demand patterns over the reservation periods, (5) overbooking, and (6) group reservation. By developing new RM procedures to account for unique characteristics of the hotel industry, an efficient and sound procedure can be obtained. It is hoped that this new procedure will encourage further research in this and other service areas.