Dynamic room pricing model for hotel revenue management systems

Egyptian Informatics Journal

Hisham ElShishiny¹  Heba Abdel Aziz²  Mohamed H. Rasmy²  Mohamed Saleh² 

[1] Advanced Technology and Center for Advanced Studies, IBM Technology Development Center, Cairo, Egypt;Department of Operations Research and Decision Support, Faculty of Computers and Information, Cairo University, Egypt;

关键词: Revenue management system;    Dynamic pricing;    Optimal hotel rooms allocation;    Demand elasticity;   

DOI  :  10.1016/j.eij.2011.08.001

来源: DOAJ

【 摘 要 】

This paper addresses the problem of room pricing in hotels. We propose a hotel revenue management model based on dynamic pricing to provide hotel managers with a flexible and efficient decision support tool for room revenue maximization. The two pillars of the proposed framework are a novel optimization model, and a multi-class scheme similar to the one implemented in airlines. Our hypothesis is that this framework can overcome the limitations associated with the research gaps in pricing literature; and can also contribute significantly in increasing the revenue of hotels. We test this hypothesis on three different approaches, and the results show an increase in revenue compared to the classical model used in literature.

【 授权许可】

Unknown