TY  - THES
AB  - Competition and macroeconomic changes stimulate hoteliers to find ways to improve business. Hotel Revenue Management (HRM) techniques evolve and their beneficial results attract more and more hotel owners. Solutions of hotel revenue management approaches support managers in decision-making and increase revenues.

In order to contribute to HRM theory and practice the following two problems of revenue management in hotel business have been studied: 1) problem P-Pricing, which is a dynamic and uncertain problem of determining prices of rooms of different categories such that the total profit of room sales based on the forecasted demand is maximized, assuming that the demand is price sensitive, and 2) problem P-Select, which is a static and deterministic problem of selecting a subset of room requests from a given set of room requests such that the selected requests can be assigned to physically different rooms or the same room in different time slots and the total value of these requests is maximized.

In problem P-Pricing specific historical forecasting methods are used to predict values of coefficients of linear demand function.  Revenue maximization of a hotel is gained via solving mathematical programming problem with concave quadratic objective function and linear constraints. A typical example of a practical situation where problem P-Pricing appears is the reservation of hotel rooms via an Internet service, which immediately accepts a request if it can be satisfied.

Problem P-Select is modeled as a Fixed Interval Scheduling Problem on parallel machines. Its relation to the Maximum Weight Clique Problem of graph theory is established. Optimal and heuristic solution approaches are developed and computer tested. A typical example of a practical situation where problem P-Select appears is renting of private apartments and cottages, when the owner collects requests during a certain period of time and then decides which of them to accept. It also appears in hotel business in special cases such as world sporting events, when requests for rooms come much in advance, demand is usually exaggerated and hotel managers have the possibility to consider requests during a certain period of time.
AU  - Bandalouski, Andrei M.
DA  - 2015
KW  - Revenue Management
LA  - eng
PY  - 2015
TI  - Revenue management models for hotel business
UR  - https://nbn-resolving.org/urn:nbn:de:hbz:467-9235
Y2  - 2024-12-27T07:08:31
ER  -