Models and Techniques for Hotel Revenue Management Using a Roling Horizon
P. Goldman,
Richard Freling,
K. Pak and
Nanda Piersma
ERIM Report Series Research in Management from Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam
Abstract:
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: Revenue Management; mathematical programming; yield management (search for similar items in EconPapers)
JEL-codes: C61 M M11 R4 (search for similar items in EconPapers)
Date: 2001-01-17
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)
Downloads: (external link)
https://repub.eur.nl/pub/144/erimrs20020117130148.pdf (application/pdf)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:ems:eureri:144
Access Statistics for this paper
More papers in ERIM Report Series Research in Management from Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam Contact information at EDIRC.
Bibliographic data for series maintained by RePub ( this e-mail address is bad, please contact ).