Application of online booking data to hotel revenue management

作者：

Highlights：

• Apply online hotel booking data to revenue management under overbooking.

• Crawl online booking data, which are big data, from a Japanese booking website.

• Estimate the customer's choice behaviors from the data by a discrete choice model.

• Solve for an optimal room charge and overbooking level maximizing the expected sales.

• Confirm effectiveness of the model by numerical examples using empirical data.

摘要

•Apply online hotel booking data to revenue management under overbooking.•Crawl online booking data, which are big data, from a Japanese booking website.•Estimate the customer's choice behaviors from the data by a discrete choice model.•Solve for an optimal room charge and overbooking level maximizing the expected sales.•Confirm effectiveness of the model by numerical examples using empirical data.

论文关键词：Online hotel booking data,Choice behaviors,Revenue management,Overbooking strategies

论文评审过程：Received 7 July 2018, Revised 5 November 2018, Accepted 5 November 2018, Available online 27 November 2018, Version of Record 27 November 2018.

论文官网地址：https://doi.org/10.1016/j.ijinfomgt.2018.11.003