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Modeling and Simulation Optimization of Hotel Revenue Management with Customer Choice Behavior

Karimi, Zahra | 2013

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  1. Type of Document: M.Sc. Thesis
  2. Language: Farsi
  3. Document No: 44818 (01)
  4. University: Sharif University of Technology
  5. Department: Industrial Engineering
  6. Advisor(s): Shavandi, Hassan
  7. Abstract:
  8. In this thesis, the problem of the hotel revenue management with the customer choice behaiver has been studied . In this model , each customer has a preference order among the set of products. He purchased or booked his products according to his ordered list of preferences. Because the high number of hotel products are assumed, each customer can only choices different fare classes and the list of the preference customers is made up of different fare classes. Two different approaches have been used to solve this problem . The first approach is The linear programming model in which α percent of the capacity is allocated to business customers and the remaining capacity to leisuer customers . The buy up approach to model the customer choice behavior is used, this method assumes that there is a probability β that a leisure customer for the class 2 will buy the class 1 if the class 2 is closed. By solving the model for different α , the optimal level of protection for business customers is determined . The second approach is the simulation optimization model to optimize the protection levels for a virtual nesting control strategy and the bid prices for a bid-price control strategy. In This approach is formulated a continuous demand and capacity model that allows for the partial acceptance of requests. The model admits a simple calculation of the sample path gradient of the revenue function. This gradient is then used to construct a stochastic steepest ascent algorithm. In order to determine the appropriate approach for the various hotel problem is designed a graphical user interface. By entering parameters of various hotel problems, the appropriate approach with its optimal parameters to control the hotel capacity is provided
  9. Keywords:
  10. Stochastic Programming ; Simulation Optimization ; Hotel Industry ; Revenue Management ; Customer Choice Behavior ; Virtual Nesting Control ; Bid Price Control

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