Competitive set forecasting in the hotel industry with an application to hotel revenue management

Abstract

Successful revenue management programs are found in industries where managers can accurately forecast customer demand. Airlines, rental car agencies, cruise lines, and hotels are all examples of industries that have been associated with revenue management. All of these industries have applied revenue management, whether it be complex overbooking models in the airline industry or simple price discrimination (i.e., having a tiered price system for those making reservations ahead of time versus walk-ups) for hotels.

Citation

Kros, J.F. and Keller, C.M. (2009), "Competitive set forecasting in the hotel industry with an application to hotel revenue management", Lawrence, K.D. and Klimberg, R.K. (Ed.) Advances in Business and Management Forecasting (Advances in Business and Management Forecasting, Vol. 6), Emerald Group Publishing Limited, Leeds, pp. 3-14. https://doi.org/10.1108/S1477-4070(2009)0000006001