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Revenue management prlcing in Douro Hotels [Study Group Report]

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authorProfile.affiliationPortuguese Study Groups' Reports, Problem presented by Douro Palace Hotel at the European Study Group With Industry, Jun. 27 - Jul. 1, 2016 ESTGF and ESEIG, P. Porto
dc.contributor.authorCorreia, Elisete
dc.contributor.authorDias, Sónia
dc.contributor.authorFerreira, Fernanda A.
dc.contributor.authorMoura, Ana
dc.contributor.authorNunes, Paula
dc.contributor.authorPereira, Maria Teresa Ribeiro
dc.contributor.authorSantos, Jorge
dc.contributor.authorPereira, Carla Santos
dc.contributor.authorSoares, Filomena Baptista
dc.contributor.authorSoares, João
dc.date.accessioned2019-01-21T12:00:03Z
dc.date.available2019-01-21T12:00:03Z
dc.date.issued2016
dc.description.abstractThe Douro Palace Hotel management wants to develop a software that helps them with the dynamic pricing of the hotel rooms. Revenue Management software is widely used for data analysis of demand and prices. However the hotel barely follows the software recommendations for pricing decisions, mainly due to the lack of understanding of the rationale and the inherent difficulty in validating pricing decisions. The hotel would like to have a reliable model in order to give to the manager an overview of the business and how to act to improve the sales. The questions raised at the study group are related to this. In this report, we present two distinct methodologies to address the hotel request. The first approach is excel based and more practically oriented towards to be an immediate help of the current pricing decisions. A second approach is more formal, mathematically speaking, but requires a more time consuming implementation. It is based on a recent operations management/operations research paper. On short term plan, we propose the implementation of an automatic generation of excel files that will enable Douro Palace Hotel react more often/finely to the competition pricing. A thorough statistical analysis of the Demand function and the corresponding segmentation is also required - for simulation purposes or decision support. We think that Douro Palace Hotel should differentiate prices more often and promptly (both upwardly and downwardly) depending on the perception of the demand and the competitors prices. On a long term plan, we propose the implementation of more sophisticated approaches, mathematically speaking, such as the one described in this report.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.urihttp://hdl.handle.net/10400.22/12679
dc.language.isoengpt_PT
dc.publisherThe MIIS Eprints Archive - Mathematics in Industry: The International Study Groups Websitept_PT
dc.relation.publisherversionhttp://miis.maths.ox.ac.uk/miis/738/1/nIM0vs-problem-2-hotel-revenue-pricing.pdfpt_PT
dc.titleRevenue management prlcing in Douro Hotels [Study Group Report]pt_PT
dc.typereport
dspace.entity.typePublication
oaire.citation.conferencePlacePorto, Portugalpt_PT
oaire.citation.title119th European Study Group With Industrypt_PT
person.familyNameFerreira
person.familyNameRibeiro Pereira
person.familyNameda Silva Pereira Baptista Soares
person.familyNameSoares
person.givenNameFernanda A.
person.givenNameMaria Teresa
person.givenNameFilomena Maria
person.givenNameJoão
person.identifierR-000-4TV
person.identifierU-2265-2018
person.identifier1583506
person.identifier1043580
person.identifier.ciencia-idD116-9419-5778
person.identifier.ciencia-id7A16-77DE-410A
person.identifier.ciencia-id661E-1FDB-58FB
person.identifier.ciencia-id1612-8EA8-D0E8
person.identifier.orcid0000-0002-1335-7821
person.identifier.orcid0000-0003-4556-9578
person.identifier.orcid0000-0001-5203-9458
person.identifier.orcid0000-0002-4172-4502
person.identifier.ridN-4563-2013
person.identifier.ridAAA-2487-2020
person.identifier.scopus-author-id24723992800
person.identifier.scopus-author-id56624034400
person.identifier.scopus-author-id57722207300
person.identifier.scopus-author-id35436109600
rcaap.rightsopenAccesspt_PT
rcaap.typereportpt_PT
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