Bid-prices are becoming an increasingly popular method for controlling the sale of inventory in revenue management applications. In this form of control, threshold—or ‘‘bid’’—prices are set for the resources or units of inventory (seats on flight legs, hotel rooms on specific dates, etc.) and a product (a seat in a fare class on an itinerary or room for a sequence of dates) is sold only if the ...

Excerpt] Revenue management (RM) has been practiced in the airline (Smith, Leimkuhler,& Darrow, 1992),hotel (Hanks, Noland, & Cross, 1992),and car rental industries (Carroll & Grimes, 1995; Geraghty & Johnson, 1997) for over 15 years, and has more recently attracted attention in other industries, including broadcasting, golf (Kimes, 2000), health care (Born et al., 2004), and restaurants (Kimes...

Predicting daily occupancy is extremely important for the revenue management of individual hotels. However, daily occupancy can fluctuate widely and is difficult to forecast accurately based on existing forecasting methods. In this paper, Ensemble Empirical Mode Decomposition (EEMD)—a novel method—is introduced, and an individual hotel is chosen to test the effectiveness of EEMD in combination ...

This research aims to prove “the level of effectiveness tax collection for hotels, restaurants, street lighting and their contribution PAD in Gresik Regency”. Quantitative descriptive is applied this study. The object Regional Revenue, Financial Asset Management Agency population study Regency Government Report 2016-2020”. sample using “a report on the realization Hotel Tax, Restaurant Street L...

The paper is focusing on the problem of price optimization in area accommodation services. main aim to propose a novel simulation-based methodology based customer’s acceptance. authors create model known approaches but extended by stochastic approach and coefficient elasticity. whole created, set optimized two steps. first step makes segmentation (with elasticity approach). second then sets res...

Friendships with competitors can improve the performance of organizations through the mechanisms of enhanced collaboration, mitigated competition, and better information exchange. Moreover, these benefits are best achieved when competing managers are embedded in a cohesive network of friendships (i.e., one with many friendships among competitors), since cohesion facilitates the verification of ...

The hotel industry in China has experienced rapid growth in the past ten years and made a considerable contribution to the global tourism economy. This paper focuses on the energy performance of hotel buildings in Lijiang, China. Hotel characteristics, daily operational data, and energy use data were collected by carrying out a survey of 24 hotels. The average annual energy use intensity (EUI) ...

revenue management is the process of accepting or ordering which increases gained revenue by using different techniques of pricing and selling capacity. this technique has improved greatly in service sector specially passenger section. in this article, the process of selling ticket in tehran-mashhad route for ghazal passenger train is modeled by two methods: static multi class and heuristic ems...

Hoteliers clearly believe that location is important for a hotel, and have market research evidence to support this. However, almost nothing has been done enable this issue be incorporated into revenue generation. There gap in the literature relating analysis from location-side approach increase revenue. This study therefore untaken compare generation of hotels with different locations Ilorin, ...