search query: @indexterm Hotel and catering industry / total: 391
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| Author: | Baker, T. Collier, D. |
| Title: | A comparative revenue analysis of hotel yield management heuristics |
| Journal: | Decision Sciences
1999 : WINTER, VOL. 30:1, p. 239-263 |
| Index terms: | DECISION MAKING HOTEL AND CATERING INDUSTRY HEURISTIC METHODS |
| Language: | eng |
| Abstract: | Yield management is the dynamic pricing, overbooking, and allocation of perishable assets across market segments in an effort to maximize short-term revenues for the firm. Numerous optimization heuristics for allocation and overbooking exist for the airline industry, whose perishable asset is the airplane seat. When an airplane departs, no revenue is gained from the empty seat(s). In the hotel industry the perishable asset is the hotel room. |
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