An integrated framework for advanced hotel revenue management

International Journal of Contemporary Hospitality Management

Volumn 23, Issue 1, 2011, Pages 84-98

  El Gayar, Neamat Farouk ^a   Saleh, Mohamed ^b   Atiya, Amir ^c   El Shishiny, Hisham ^d   Zakhary, Athanasius Alkes Youhanna Fayez ^b   Habib, Heba Abdel Aziz Mohammed ^b  

^a NILE UNIVERSITY   (Egypt)

^b CAIRO UNIVERSITY   (Egypt)

^c CAIRO UNIVERSITY   (Egypt)

^d IBM Center for Advanced Studies in Cairo   (Egypt)

Author keywords

Forecasting; Hotels; Optimization techniques; Profit maximization

Indexed keywords

EID: 79551485283     PISSN: 09596119     EISSN: None     Source Type: Journal    
DOI: 10.1108/09596111111101689     Document Type: Article

References (26)

1. Abdel Aziz, H., Saleh, M., El Gayar, N. and El-Shishiny, H. (2008), "A randomized model for group reservations in hotels' revenue management system", Proceedings of INFOS'2008, March 27-29, pp. 24-30.
2. Abdel Aziz, H., Saleh, M., El Gayar, N. and El-Shishiny, H. (2009), "Dynamic pricing model for hotel revenue management", Data Mining for Improving Tourism Revenue in Egypt research project, The Egyptian Data Mining and Computer Modeling Center of Excellence, Cairo.
3. Aghazadeh, S-M. (2007), "Revenue forecasting models for hotel management" in The Journal of Business Forecasting, Vol. 26, No. 3, pp. 33-7.
4. Ahmed, N., Atiya, A., El Gayar, N. and El-Shishiny, H. (2009), "An empirical comparison of machine learning models for time series forecasting", Econometric Reviews, Vol. 29, Nos 5/6.
5. Baker, T.K. and Collier, D.A. (2003), "The benefits of optimizing prices to manage demand in hotel revenue management systems" in Production and Operations Management, Vol. 12, pp. 502-18.
6. Bertsimas, D. and de Boer, S. (2005), "Simulation-based booking limits for airline revenue management" in Operations Research, Vol. 53, pp. 90-106.
7. Brumelle, S. and Walczak, D. (2003), "Dynamic airline revenue management with multiple semi-Markov demand" in Operations Research, Vol. 51, pp. 137-48.
8. Chen, C. and Kachani, S. (2007), "Forecasting and optimization for hotel revenue management" in Journal of Revenue and Pricing Management, Vol. 6, No. 3, pp. 163-74.
9. Chiang, W.C., Chen, J.C.H. and Xu, X. (2007), "An overview of research on revenue management: current issues and future research" in International Journal of Revenue Management, Vol. 1, No. 1, pp. 97-127.
10. Choi, T.Y. and Cho, V. (2000), "Towards a knowledge discovery framework for yield management in Hong Kong hotel industry" in Hospitality Management, Vol. 19, pp. 17-31.
11. Edvall, M.M. and Goran, A. (2006), Tomlab Quick Start Guide.
12. El Gayar, N., Hendawi, A.M., Zakhary, A. and El-Shishiny, H. (2008), "A proposed decision support model for hotel room revenue management" in ICGST International Journal on Artificial Intelligence and Machine Learning, ICGST-AIML, pp. 23-8, special issue on Computational Methods for the Tourism Industry.
13. Frechtling, D. (2001), Forecasting Tourism Demand: Methods and Strategies, Butterworth-Heinemann, Oxford.
14. Goldman, P., Freling, R., Pak, K. and Piersma, N. (2002), "Models and techniques for hotel revenue management using a rolling horizon" in Journal of Revenue and Pricing Management, Vol. 1, pp. 207-19.
15. Ingold, A., McMahon-Beattie, U. and Yeoman, I. (2003), Yield Management, 2nd ed., Continuum, London.
16. Lai, K-K. and Ng, W-L. (2005), "A stochastic approach to hotel revenue optimization" in Computers and Operations Research, Vol. 32, pp. 1059-72.
17. (The) MathWorks (2006), "MATLAB and Simulink for technical computing", available at: www.mathworks.com.
18. Milla, S. and Shoemaker, S. (2008), "Three decades of revenue management: what's next?" in Journal of Revenue and Pricing Management, Vol. 7, No. 1, pp. 110-14.
19. Slyke, R.V. and Young, Y. (2000), "Finite horizon stochastic knapsacks with applications to yield management" in Journal of Operations Research, Vol. 48, pp. 155-72.
20. Talluri, K.T. and van Ryzin, G.J. (2005), The Theory and Practice of Revenue Management, Springer Science + Business Media, Hamburg.
21. Vinod, B. (2004), "Unlocking the value of revenue management in the hotel industry" in Journal of Revenue and Pricing Management, Vol. 3, pp. 178-90.
22. Weatherford, L.R. and Kimes, S.E. (2003), "A comparison of forecasting methods for hotel revenue management" in International Journal of Forecasting, Vol. 19, pp. 401-15.
23. Zakhary, A., El-Gayar, N. and Atyia, A. (2008), "A comparative study of the pickup method and its variations using a simulated reservation hotel data" in ICGST International Journal on Artificial Intelligence and Machine Learning, ICGST-AIML, pp. 15-21, special issue on Computational Methods for the Tourism Industry.
24. Zakhary, A., Atyia, A., El Gayar, N. and El-Shishiny, H. (2007), Forecasting Hotel Demand Using Simulation, Technical Report, Data Mining for Improving Tourism Revenue in Egypt Research Project within the Egyptian Data Mining and Computer Modeling Center of Excellence, Cairo.
25. Feng, Y. and Xiao, B. (2006), "Integration of pricing and capacity allocation for perishable products" in European Journal of Operational Research, Vol. 168, pp. 17-34.
26. Zhang, D. and Copper, W.L. (2005), "Revenue management in parallel flights with customer choice" in Behavior Operations Research, Vol. 53, pp. 415-34.