Booking models for hotel revenue management considering multiple-day stays

S. Liu, K.K. Lai and S.Y. Wang

International Journal of Revenue Management, 2008, vol. 2, issue 1, 78-91

Abstract: This study presents several revenue optimisation models for hotel room reservations for a future target day with multiple-day stays. Assume that the hotel has only one type of room but the unit rate for the room may be different during every booking period and every reservation may cover several days. A stochastic programming model with semi-absolute deviations for measuring the risk for hotel revenue under an uncertain environment is proposed. And this stochastic model can be changed into a linear programming model by applying linearisation techniques. Numerical examples are presented to illustrate the efficiency of these models.

Keywords: hotel revenue management; semi-absolute deviation; stochastic programming; revenue optimisation; modelling; hotel room reservations; multiple day stays; hotels. (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijrevm:v:2:y:2008:i:1:p:78-91

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