Decision Theory and the Innkeeper: An Approach for Setting Hotel Reservation Policy

Fred E. Williams
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Fred E. Williams: Clemson University and Georgia Institute of Technology

Interfaces, 1977, vol. 7, issue 4, 18-30

Abstract: Hotel room demand stems from three sources: stayovers, reservations, and walk-ins. These demands are random, but the reservations demand can be partially controlled by varying the number of reservations accepted. An approach for setting reservation policies is developed and illustrated. Three choice criteria are suggested.

Date: 1977
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