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  • 标题:Dynamic Pricing in Hotels
  • 本地全文:下载
  • 作者:Mr. Pradeep Mittal ; Dimmy
  • 期刊名称:International Journal of Advanced Research In Computer Science and Software Engineering
  • 印刷版ISSN:2277-6451
  • 电子版ISSN:2277-128X
  • 出版年度:2013
  • 卷号:3
  • 期号:5
  • 出版社:S.S. Mishra
  • 摘要:In this paper we explain a dynamic pricing approach for the Hotel Revenue management. It is based on having "price multipliers" that provide a varying discount/premium over some seasonal reference price. The price multipliers are a function of certain influencing variables (for example hotel occupancy, time till arrival, etc). Then an optimization algorithm is applied for determining the parameters of these multipliers with the goal to maximize the revenue, taking into account current demand, and the demand-price sensitivity of the hotel's guest. It includes C programming which can be efficiently used by hotels to maximize total revenue.
  • 关键词:Dynamic pricing; Hotel room forecasting; Monte Carlo simulation; Price Elasticity; Revenue Management
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