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| Author: | Baker, T. Murthy, N. N. Jayaraman, V. |
| Title: | Service package switching in hotel revenue management systems |
| Journal: | Decision Sciences
2002 : WINTER, VOL. 33:1, p. 109-132 |
| Index terms: | HEURISTIC METHODS HOTEL MANAGEMENT INVENTORY CONTROL MATHEMATICAL PROGRAMMING REVENUE |
| Language: | eng |
| Abstract: | Revenue Management Systems (RMS) are commonly used in the hotel industry to maximize revenues in the short term. The forecasting-allocation module is a key tactical component of a hotel RMS. A service package is a unique combination of physical room, amenities, room price, and advance purchase restrictions. Previous research and existing revenue management systems assume the demand for a service package to be independent of which service packages are available for sale. The authors develop a new forecasting-allocation approach that explicitly accounts for this dependence. |
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