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Decomposition methods for dynamic room allocation in hotel revenue management
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Aydin, Nursen and Birbil, S. Ilker (2018) Decomposition methods for dynamic room allocation in hotel revenue management. European Journal of Operational Research, 271 (1). pp. 179-192. doi:10.1016/j.ejor.2018.05.027 ISSN 1872-6860.
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WRAP-decomposition-methods-dynamic-room-allocation-hotel-revenue-management-Aydin-2018.pdf - Accepted Version - Requires a PDF viewer. Available under License Creative Commons Attribution Non-commercial No Derivatives 4.0. Download (540Kb) | Preview |
Official URL: https://doi.org/10.1016/j.ejor.2018.05.027
Abstract
Long-term stays are quite common in the hotel business. Consequently, it is crucial for the hotel managements to consider the allocation of available rooms to a stream of customers requesting to stay multiple days. This requirement leads to the solving of dynamic network revenue management problems that are computationally challenging. A remedy is to apply decomposition approaches so that an approximate solution can be obtained by solving many simpler problems. In this study, we investigate several room allocation policies in hotel revenue management. We work on various decomposition methods to find reservation policies for advance bookings and stay-over customers. We also devise solution algorithms to solve the resulting problems efficiently.
| Item Type: | Journal Article | ||||||||
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| Subjects: | Q Science > QA Mathematics T Technology > TX Home economics |
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| Divisions: | Faculty of Social Sciences > Warwick Business School > Operational Research & Management Sciences Faculty of Social Sciences > Warwick Business School |
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| Library of Congress Subject Headings (LCSH): | Hotels -- Reservation systems -- Mathematical models, Decomposition (Mathematics) -- Industrial applications | ||||||||
| Journal or Publication Title: | European Journal of Operational Research | ||||||||
| Publisher: | Elsevier Science BV | ||||||||
| ISSN: | 1872-6860 | ||||||||
| Official Date: | 16 November 2018 | ||||||||
| Dates: |
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| Volume: | 271 | ||||||||
| Number: | 1 | ||||||||
| Page Range: | pp. 179-192 | ||||||||
| DOI: | 10.1016/j.ejor.2018.05.027 | ||||||||
| Status: | Peer Reviewed | ||||||||
| Publication Status: | Published | ||||||||
| Access rights to Published version: | Restricted or Subscription Access | ||||||||
| Date of first compliant deposit: | 22 May 2018 | ||||||||
| Date of first compliant Open Access: | 22 May 2020 |
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