We present a stochastic optimization model for hotel revenue management with multipleday stays under an uncertain environment. Since a decision maker may face several scenarios when renting out rooms, we use a semi-absolute deviation model to measure the risk of hotel revenue, and only consider the risk of falling below the expected revenue. The method proposed in this paper can be changed to a...

Carbon finance offers the potential to change land management and conservation planning priorities. We develop a novel approach to planning for improved land management to conserve biodiversity while utilizing potential revenue from carbon biosequestration. We apply our approach in northern Australia's tropical savanna, a region of global significance for biodiversity and carbon storage, both o...

a r t i c l e i n f o Keywords: Key account management Revenue management Customer relationship management Customer value Service industries Key Account Management (KAM) and Revenue Management (RevM) have been widely practiced in the service industries for more than three decades, but the effects of RevM on KAM remain largely unknown. This paper addresses this neglected area of study in the mar...

In this paper, we propose an dynamic optimization model to maximize a web publisher’s online display advertising revenues. Specifically, our model dynamically selects which advertising requests to accept and dynamically delivers the promised advertising impressions to viewers so as to maximize revenue, accounting for uncertainty in advertising requests and website traffic. After characterizing ...

W consider a cargo booking problem on a single-leg flight with the goal of maximizing expected contribution. Each piece of cargo is endowed with a random volume and a random weight whose precise values are not known until just before the flight’s departure. We formulate the problem as a Markov decision process (MDP). Exact solution of the formulation is impractical, because of its high-dimensio...

This paper describes a revenue management project with a major airline that operates in a fiercely competitive market involving two major hubs and having more than 30 parallel daily flights. The market has a number of unusual characteristics including (1) almost half of customers choose not to purchase the tickets after booking; (2) about half of customers purchase their tickets within 3 days o...

A well-studied problem in the literature on airline revenue (or yield) management is the optimal allocation of seat inventory among fare classes given a demand distribution for each class. In practice, the seat allocation decisions of one airline affect the passenger demands for seats on other airlines. In this paper we examine the seat inventory control problem under both horizontal competitio...

Smart Revenue Management (SRM) is a project which aims the development of smart automatic techniques for an efficient optimization of occupancy and rates of hotel accommodations, commonly referred to, as Revenue Management. To get the best revenues, the hotel managers must have access to actual and reliable information about the competitive set of the hotels they manage, in order to anticipate ...