Question: Important trends that have changed since the original RM algorithms were developed? What is the basis for the theory of price optimization? Describe the elements

  • Important trends that have changed since the original RM algorithms were developed?
  • What is the basis for the theory of price optimization?
  • Describe the elements of an optimization problem.
  • What is the goal for price optimization in hotels?
  • What role do competitive price effects play in the price optimization decision?
  • Why in today's social world will price optimization general more revenue than traditional / original revenue management techniques?

McGuire, Kelly A. (2016).Hotel pricing in a social world: Driving value in the digital economy. Hoboken, NJ:John Wiley & Sons, Inc

Read chapter 2: Demystifying Price Optimization

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

Question: Describe Kencos CI system; compare this to process change using traditional budgeting Abstract This case illustrates a strategy-driven costing system combining ideas from lean management...

Q:

Question: Kencos organizational design borrows ideas from both lean management and the Theory of Constraints. Describe the unique characteristics of Kencos design and accounting system that are...

Q:

Complete the following questions. I have attached both the chapters which you will be answering the questions from. Make sure to answer it thoroughly and specifically. Ch 10 (p 107 of text or p 41 of...

Q:

Question: How would cost-plus pricing change continuous improvement at Kenco? (10 marks) Compare and explain fully the strategic and operational implications of cost-plus pricing versus Kencos...

Q:

Question: Compare how the strategy for lean manufacturing and Kencos system lead to unique production and information systems. Include in your discussion the design characteristics underlying each...

Q:

Question: How do Kencos manufacturing and reporting systems support its key success factors (key strategic components) of product quality, on-time delivery, and cost? Abstract This case illustrates a...

Q:

J. of the Acad. Mark. Sci. (2013) 41:389-399 DOI 10.1007/s11747-013-0331-z CONCEPTUAL/THEORETICAL PAPER Elevating marketing: marketing is dead! Long live marketing! Frederick E. Webster Jr. & Robert...

Q:

Please see document attached for reference information and answer question 1-6. Questions: Q1 . Barbco's organizational design borrows from both lean management and the Theory of Constraints....

Q:

Q1 . Barbco?s organizational design borrows from both lean management and the Theory of Constraints. Describe the unique characteristics of Barbco?s design and accounting system with respect to lean...

Q:

Please see document attached for reference information and answer question 1-6. Questions: Q1 . Barbco's organizational design borrows from both lean management and the Theory of Constraints....

Q:

Barker, Inc. receives subscription payments for annual (one year) subscriptions to its magazine. Payments are recorded as revenue when received. Amounts received but unearned at the end of each of...

Q:

Determine the discrete signal x[n] that has the z transform. d=5 -10 X(z)= (z 2d)(= - d)

Q:

X and Y Corporations were merged under state law into new corporation all of their assets to XY in exchange for all of XY stock. X distributed all shareholders in exchange for X stock and then...

Q:

1. a) Is the following graph about the "Purchasing Power of the Diminishing Dollar" misleading? Why or why not? 11.00. THE EXTER STATES OF AFR 1963-KENNEDY, 96 THE DRONES OF AMERICA 42LAY Purchasing...