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Booking Requests Online Scheduling with Pricing and Revenue Management in the Hotel Industry

Soleimanipour, Reza | 2024

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  1. Type of Document: M.Sc. Thesis
  2. Language: Farsi
  3. Document No: 57900 (01)
  4. University: Sharif University of Technology
  5. Department: Industrial Engineering
  6. Advisor(s): Varmazyar, Mohsen
  7. Abstract:
  8. The tourism industry stands as one of the most pivotal sectors in the modern global economy, with hotels constituting one of its largest components. Concurrently, hotel management represents one of the most significant commercial activities worldwide. Among the crucial responsibilities of hotel management is the challenge of room allocation to guests seeking accommodation. In this study, we investigate the problem of assigning hotel rooms to guests. To achieve this, we first collect reservation requests from guests and execute the allocation process based on these requests. This procedure is facilitated through mathematical modeling with the objective of maximizing the number of accepted guests. To account for real-world assumptions, the unpredictability of human behavior has been incorporated into the model, specifically encompassing cancellations, no-shows, and walk-ins. This research conducts a comprehensive analysis of each of these assumptions (cancellations, no-shows, and walk-ins) and proposes targeted strategies to address them, including the application of simulation techniques and statistical distributions. Additionally, this study examines seasonal variations in guests’ willingness to pay and, accordingly, implements room pricing strategies. The mathematical models and proposed solutions are evaluated using a dataset from a hotel in Lisbon, Portugal. The results of hotel management considering real-world assumptions in the examined data indicate a 30% increase in the number of accepted guests. Furthermore, to establish a balance between the number of accepted walk-in and regular guests, a policy is defined for management to select the optimal policy based on need
  9. Keywords:
  10. Scheduling ; Hotel Industry ; Optimization ; Pricing ; Cancellation Right ; Walk-Ins ; Revenue Management ; Hotel Network Revenue Management ; Tourism

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