A simulation-based overbooking approach for hotel revenue management
In this paper we tackle the overbooking problem in hotel revenue management (RM). We
propose a simulations-based approach for the overbooking problem. It is based on
accurately estimating all the hotel's processes, such as reservations arrivals, cancelations,
length of stay, demand seasonality, etc. Subsequently, all these processes are simulated
forward in time in a Monte-Carlo fashion. The optimal overbooking limit is selected as the
one that will give the targeted denied ratio. Our model is designed to handle the time …
propose a simulations-based approach for the overbooking problem. It is based on
accurately estimating all the hotel's processes, such as reservations arrivals, cancelations,
length of stay, demand seasonality, etc. Subsequently, all these processes are simulated
forward in time in a Monte-Carlo fashion. The optimal overbooking limit is selected as the
one that will give the targeted denied ratio. Our model is designed to handle the time …
[PDF][PDF] A Simulation-Based Overbooking Approach For Hotel Revenue Management
MB Abd EI-Moniem, M Saleh - academia.edu
In this paper we tackle the overbooking problem in hotel revenue management (RM). We
propose a simulations based approach for the overbooking problem. It is based on
accurately estimating all the hotel's processes, such as reservations arrivals, cancelations,
length of stay, demand seasonality, etc. Subsequently, all these processes are simulated
forward in time in a Monte-Carlo fashion. The optimal overbooking limit is selected as the
one that will give the targeted denied ratio. Our model is designed to handle the time …
propose a simulations based approach for the overbooking problem. It is based on
accurately estimating all the hotel's processes, such as reservations arrivals, cancelations,
length of stay, demand seasonality, etc. Subsequently, all these processes are simulated
forward in time in a Monte-Carlo fashion. The optimal overbooking limit is selected as the
one that will give the targeted denied ratio. Our model is designed to handle the time …
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