Models and techniques for hotel revenue management using a rolling horizon

P. Goldman, Richard Freling, K. Pak and Nanda Piersma

No EI 2001-46, Econometric Institute Research Papers from Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute

Abstract: This paper studies decision rules for accepting reservations for stays in a hotel based on deterministic and stochastic mathematical programming techniques. Booking control strategies are constructed that include ideas for nesting, booking limits and bid prices. We allow for multiple day stays. Instead of optimizing a decision period consisting of a fixed set of target booking days, we simultaneously optimize the complete range of target booking dates that are open for booking at the moment of optimization. This yields a rolling horizon of overlapping decision periods, which will conveniently capture the effects of overlapping stays.

Keywords: Mathematical programming; Revenue management; Yield management (search for similar items in EconPapers)
Date: 2001-12-14
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Citations: View citations in EconPapers (1)

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