Home > Interfaces > Vol. 42, No. 1 > Retail Price Optimization at InterContinental Hotels Group...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Home > Interfaces > Vol. 42, No. 1 > Retail Price Optimization at InterContinental Hotels Group Dev Koushik, Jon A. Higbie, Craig Eister Published Online: 1 Feb 2012 https://doi.org/10.1287/inte.1110.0620 Abstract PERFORMSM with price optimization is the first large-scale enterprise implementation of price optimization in the hospitality industry. The price optimization module determines optimal room rates based on occupancy, price elasticity, and competitive prices. The approach used is a major advancement over existing revenue management systems, which assume that demands by rate segments are independent of price and of each other. As of this writing, over 2,000 InterContinental Home > Interfaces > Vol. 42, No. 1 > Retail Price Optimization at InterContinental Hotels Group Dev Koushik, Jon A. Higbie, Craig Eister Published Online: 1 Feb 2012 https://doi.org/10.1287/inte.1110.0620 Abstract PERFORMSM with price optimization is the first large-scale enterprise implementation of price optimization in the hospitality industry. The price optimization module determines optimal room rates based on occupancy, price elasticity, and competitive prices. The approach used is a major advancement over existing revenue management systems, which assume that demands by rate segments are independent of price and of each other. As of this writing, over 2,000 InterContinental
Expert Answer:
Posted Date:
Students also viewed these general management questions
-
Air pollution officials in Californias Central Valley have opened a new front in the war against urban sprawl, and regulators and environmental advocates throughout the state are watching closely....
-
The SEC Form 10-K of Google is reproduced online at www.wiley.com/college/pratt. REQUIRED: Review the 10-K, and answer the following questions: a. What are the major sources of cash for the company...
-
The trial balance columns of the worksheet for Barbosa Company, SA at June 30, 2017, are as follows. Other data: Operating expenses incurred on account, but not yet recorded, total R$1,640....
-
The following data were taken from the financial statements of Premium PrintersInc. for the current fiscal year: Assuming that long-term investments totaled \($175,000\) throughout the year and that...
-
The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. Rent expense and salaries expense are equally divided between selling activities and general and...
-
The patient recovery time from a particular surgical procedure is normally distributed with a mean of 5.7 days and a standard deviation of 1.5 days. What is the 90th percentile for recovery times?...
-
One product that has been able to maintain its department store channel very successfully has been cosmetics. Despite very strong competition from other channels, mass merchandisers, drug stores,...
-
The company produces one type of goods - dresses. The price of the dress in January was $14 per unit. The company estimates the variable cost of making one dress at $9 per unit, and fixed costs at $...
-
What are the formulas for : multiproduct breakeven point - in units sales revenue at breakeven multiproduct target profit point - in units sales revenue at target profit Margin of Safety (in$) Margin...
-
Assume air is an ideal diatomic gas. At atmospheric pressure and room temperature, the density of air (at room temperature) is approximately 1.2 kg/m3 . What value do you find for the speed of sound...
-
Clean Duds Laundromat has an industrial water softener that enhances the water quality used in its washing machines. The water softener is approaching the end of its useful life and must be either...
-
Describe the use and purpose of telemedicine technology in health care. Explain how telemedicine may be used in a healthcare organization (devices, platforms, applications, cloud-based vs. local or...
-
You have just been appointed as financial manager of Slow-Moving-Stock Limited. One of your main focus areas is to improve the inventory management system that the company currently has in place. You...
-
1A. If the researcher is concerned about the number of variables, the nature of the analysis, and completion rates, then, he/she is at which stage of the sampling design process (Figure 11.1 in the...
Study smarter with the SolutionInn App