Keywords: o&d revenue management, seat inventory control, multistage stochas- tic programming, scenario tree generation origin and destination (o&d) revenue man- agement (rm), either leg-based or pnr based, has become a standard in the airline industry this paper presents a new approach to o&d rm which. Our optimization model is novel, because it addresses the research gaps in the current state of the art basically the contribution of this paper is to enhance the classical revenue management optimization model (described in the next section ) by the following four features to overcome the limitations associated with the. This survey reviews the forty-year history of research on transportation revenue management (also known as yield management) we cover developments in forecasting, overbooking, seat inventory control, and pricing, as they relate to revenue management, and suggest future research directions. Tries, and even change its name (from yield management to revenue management) in this paper i trace the evolution of my research in revenue management, including the 11 ar- ticles that have appeared in cornell quarterly over this time, and discuss areas for future research in the late 1980s revenue management was in. This journal also publishes open access articles · call for papers ijrm is an interdisciplinary and refereed journal that provides authoritative sources of reference and an international forum in the field of revenue management ijrm publishes well-written both theoretic development and applied research are welcome.
Full-text (pdf) | the paper presents a critical literature review of the main concepts of hotel revenue management (rm) and current state of theoretical research it emphasizes on the different directions of hotel rm research and focuses comprehensively on the elements of the hotel rm system and t. Based paper which analyses publications relating to yield management in texts and monographs the general goal of this line of research is to offer future researchers a methodical and exhaustive analysis of bibliography and research work done on the subject keywords yield management, revenue management,. Keywords: operations research marketing network economics business economics railway revenue management pricing passenger freight models find related papers by jel classification: c61 - mathematical and quantitative methods - - mathematical methods programming. This paper evaluates the main developments of revenue management (rm) over the past decade and discusses rm challenges and research prospects it examines nine notable emerging themes: total hotel rm, big data analytics, distribution, rate integrity, rm and marketing strategies alignment, social media impacts on.
In hotel industry, the goal of revenue management is to maximize the revenue by forecasting the future demand based on the current and past reservation data this paper explores revenue management, revenue management systems (rms ), and success factors in implementing rms fundamentals of. Revenue management this paper provides a survey and bibliography of work in this important area the paper is organized as follows in section 1, we outline the history and current nature of the reve- nue management problem and discuss some of the complexities that make solution and implementa- tion so challenging.
This paper evaluates the main developments of revenue management (rm) over the past decade and discusses rm challenges and research prospects it examines nine notable emerging themes: total hotel rm, big data analytics, distribution, rate integrity, rm and marketing strategies alignment, social. Agement community in this paper we review current models of customer behavior in the revenue management and auction literatures and suggest several interesting research directions in this area 1 introduction it is common practice in operations management to characterize customer demand exogenously for example.