... the question of what the optimal room rate should be. Hotels Hotel revenue management Room rates Hotel demand Optimization Optimization techniques Forecasting Revenue management, or yield management, in the hospitality industry has been an academic research topic for a long time. According...

... treats the shortcomings in existing systems. In particular, it extends existing optimization techniques for hotel revenue management to address group reservations and uses “forecasted demand” arrivals generated from the real data. Design/methodology/approach The proposed forecasting module attempts...