Comparison of expected marginal revenue models in the hospitality industry

This paper focuses on the issue of revenue management models that are based on Littlewood's rule. The main aim of this paper is to compare the Expected Marginal Seat Revenue model in the two variants: EMSRa and EMSRb model. The whole application is made in the hospdels that are based on Littlew...

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Bibliographic Details
Published in:Journal of revenue and pricing management 2022-06, Vol.21 (3), p.299-305
Main Authors: Petříček, Martin, Chalupa, Štěpán, Levičková, Věra
Format: Article
Language:English
Subjects:
Business and Management
Customers
Decision making
Hospitality industry
Optimization
Probability
Research Article
Revenue management
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Summary:This paper focuses on the issue of revenue management models that are based on Littlewood's rule. The main aim of this paper is to compare the Expected Marginal Seat Revenue model in the two variants: EMSRa and EMSRb model. The whole application is made in the hospdels that are based on Littlewood's rule. The main aim of this paper is to compare the Expected Marginal Seat Revenue model in the two variants: EMSRa and EMSRb model. The whole application is made in the hospitality industry and is based on historical data provided by the accommodation facility. The main results show, that there are only a few differences between EMSRa and EMSRb models. Nevertheless, the EMSRb model can be more robust for the facilities with a higher variety of the clients (measured by the standard deviation).
ISSN:1476-6930
1477-657X
DOI:10.1057/s41272-021-00328-9