Revenue management and price optimization techniques in the hotel sector

2018 ◽  
Vol 24 (6) ◽  
pp. 720-752 ◽  
Author(s):  
Aldric Vives ◽  
Marta Jacob ◽  
Marga Payeras
Keyword(s):  
Revenue Management ◽  
Airline Industry ◽  
New Technologies ◽  
Customer Segmentation ◽  
Optimization Techniques ◽  
Hotel Management ◽  
Price Optimization ◽  
Hotel Sector ◽  
Measurement Effects

Pricing and revenue management (RM) techniques have become a popular field of research in hotel management literature. The sector’s background framework and evolution and the widespread use of new technologies have allowed a customer-oriented approach to be taken to pricing and the development of RM tools, while also contributing to better processes in hotel management performance at individual hotel level. Thus, price optimization (PO) methods that seek to maximize hotel revenue are based on inventory scarcity, customer segmentation and pricing. In the hotel sector, as in the airline industry, different pricing policies have a greater impact than competition measurement effects. This is mainly as differentiation strategies and specific policies at hotels can reduce the pressure of a competitive environment. The main contributions of the article are the presentation, description and classification of the principal RM and PO techniques in hotel sector literature.

Application of Computational Mechanics to Tire Design—Yesterday, Today, and Tomorrow

2011 ◽  
Vol 39 (4) ◽  
pp. 223-244 ◽  
Author(s):  
Y. Nakajima
Keyword(s):  
Finite Element ◽  
New Technologies ◽  
Computational Mechanics ◽  
Design Procedure ◽  
Side Wall ◽  
Rolling Resistance ◽  
Optimization Techniques ◽  
Stress Strain ◽  
Element Analysis ◽  
Crown Shape

Abstract The tire technology related with the computational mechanics is reviewed from the standpoint of yesterday, today, and tomorrow. Yesterday: A finite element method was developed in the 1950s as a tool of computational mechanics. In the tire manufacturers, finite element analysis (FEA) was started applying to a tire analysis in the beginning of 1970s and this was much earlier than the vehicle industry, electric industry, and others. The main reason was that construction and configurations of a tire were so complicated that analytical approach could not solve many problems related with tire mechanics. Since commercial software was not so popular in 1970s, in-house axisymmetric codes were developed for three kinds of application such as stress/strain, heat conduction, and modal analysis. Since FEA could make the stress/strain visible in a tire, the application area was mainly tire durability. Today: combining FEA with optimization techniques, the tire design procedure is drastically changed in side wall shape, tire crown shape, pitch variation, tire pattern, etc. So the computational mechanics becomes an indispensable tool for tire industry. Furthermore, an insight to improve tire performance is obtained from the optimized solution and the new technologies were created from the insight. Then, FEA is applied to various areas such as hydroplaning and snow traction based on the formulation of fluid–tire interaction. Since the computational mechanics enables us to see what we could not see, new tire patterns were developed by seeing the streamline in tire contact area and shear stress in snow in traction.Tomorrow: The computational mechanics will be applied in multidisciplinary areas and nano-scale areas to create new technologies. The environmental subjects will be more important such as rolling resistance, noise and wear.

A review and classification of layouts and optimization techniques used in design of heliostat fields in solar central receiver systems

Solar Energy ◽  
2021 ◽  
Vol 218 ◽  
pp. 296-311
Author(s):  
Arslan A. Rizvi ◽  
Syed N. Danish ◽  
Abdelrahman El-Leathy ◽  
Hany Al-Ansary ◽  
Dong Yang
Keyword(s):  
Optimization Techniques ◽  
Central Receiver

Classification of Technological Development Trends Based on the Analysis of US Patent Time Series. An Empirical Approach

2021 ◽  
pp. 251-278
Author(s):  
Vladimir I. Karnyshev ◽  
◽  
Vladimir I. Avdzeyko ◽  
Evgenia S. Paskal ◽  
◽  
...  
Keyword(s):  
Time Series ◽  
New Technologies ◽  
Practical Interest ◽  
The United States ◽  
Direct Access ◽  
Investment Planning ◽  
Short Term ◽  
Development Trends ◽  
Technical Problems

The forecasting of development trends and the timely revealing of new technical (technological) fields are the key prerequisite for an effective development of modern economy. Only reliable results of technological analysis (forecast) allow identifying new technologies, understanding the evolution of entire industries, carrying out strategic investment planning at the state level, and also planning R&D correctly. The aim of this work is to justify one of the possible approaches to the classification of technical (technological) fields in terms of assessing their relevance, novelty and short-term prospects. This approach is based on patent analysis, in particular, on the study of the time series features of US invention patents (1976-2018) for more than seventy-three thousand main groups (subgroups) of the 17th edition of the International Patent Classification (IPC17). The United States Patent and Trademark Office (USPTO) has been selected as the primary source of information because it is one of the world’s largest and constantly updated patent resources, providing direct access to full-text descriptions. In the authors’ opinion, a feature analysis of the US patent issue dynamics at time intervals (1976-2015, 2009-2018 and 2016-2018) allows dividing the IPC groups (subgroups) into the following three main clusters: “unpromising”, “promising” and “breakthrough”. In terms of the timely revealing of new, previously unknown, technologies or solutions in the technical field, or of the steadily growing technological trends, the “breakthrough” and “promising” subgroups are of the greatest practical interest. The article presents the results of an empirical classification of 71,266 subgroups (with a non-zero number of the issued patents since 1976 to 2018) in eight sections of the IPC17. These data may be useful for developers, researchers and R&D planners in solving complex scientific and technical problems, as well as for making short-term forecast estimates of a specific technical (technological) field development.

scholarly journals Customer Segmentation Through Path Reconstruction

2020 ◽  
Author(s):  
Santiago García
Keyword(s):  
Rapid Development ◽  
Customer Segmentation ◽  
Smart Phones ◽  
Indoor Environments ◽  
Flow Conditions ◽  
Gps Receivers ◽  
Current State ◽  
Different Types

With the rapid development of smart phones, tablets and their operative systems, many positioning enabled sensors have been built into these devices. Users can now accurately fix their location according to the function of GPS receivers. For indoor environments, as in the case we are studying, WiFi based positioning is preferred to GPS due to the attenuation or obstruction of signals. This paper deals with the automatic classification of customers in a Sports Shop Center on the basis of their movements around the shop's premises. To achieve this goal, we start by collecting (x,y) coordinates from customers while they visit the store. Consequently, any costumer's path through the shop is formed by a list of coordinates, obtained with a frequency of one measurement per minute. Then, a guess about the full trajectory is constructed and a number of parameters about these trajectories is calculated before performing an Unsupervised Learning Clustering Process. As a result, we can identify several types of customers, and the dynamics of their behavior inside the shop. This information is of great value to the company, to be used both in the long term and also in short periods of time, monitoring the current state of the shop at any moment, identifying different types of situation appearing during restricted periods, or predicting customer flow conditions

scholarly journals Capabilities of the Unmanned Aerial Vehicles in Logistic Support

10.37105/sd.5 ◽  
2018 ◽  
Vol 4 ◽  
pp. 22-26
Author(s):  
Michalska Anna ◽  
Karpińska Katarzyna
Keyword(s):  
Unmanned Aerial Vehicles ◽  
New Technologies ◽  
Point Of View ◽  
Delivery Methods ◽  
Military Equipment ◽  
Aerial Vehicles ◽  
Logistic Support ◽  
The Military

The main focus of this paper is the capabilities of Unmanned Aerial Vehicles as a military logistic support in conflicts areas. The conducted research addresses the problems of traditional military delivery methods. Next, the problem of using UAVs only for civilian purposes is considered. The paper begins with short elucidation of logistic support and further provides the classification of logistic materials and discusses five categories of military equipment from the logistics point of view. Next, the paper discusses the characteristics of the parameters and properties of the chosen existing UAVs that are used for the delivery of materials. Consequently, a comparison of the UAVs is carried out, and new technologies for logistic transport are presented. This paper is concluded with the claim that it is necessary to modernize the process of logistic support in the military.

Mastering Customer Service, Customer Experience, and Customer Orientation in the Hospitality and Tourism Industry

2017 ◽  
pp. 115-140 ◽  
Author(s):  
Kijpokin Kasemsap
Keyword(s):  
Organizational Performance ◽  
Customer Service ◽  
Airline Industry ◽  
Customer Orientation ◽  
Customer Experience ◽  
Tourism Industry ◽  
Optimization Techniques ◽  
Hospitality And Tourism ◽  
Travel Industry ◽  
Hospitality And Tourism Industry

This chapter presents the utilization of optimization techniques in the hospitality and tourism industry; the perspectives on customer service and customer service teams; customer service and service leadership; customer service behavior in the travel industry; the overview of customer experience; customer experience, customer satisfaction, and service quality in the airline industry; customer experience and budget hotel in the hospitality industry; the issues with customer orientation; and the relationship between customer orientation and service innovation in the hotel industry. Optimization techniques are the essential approaches to many real-world problems, and can be applied to promote the performance of hospitality and tourism industry regarding customer service, customer experience, and customer orientation. The chapter argues that enhancing customer service, customer experience, and customer orientation through optimization techniques has the potential to increase organizational performance and reach strategic goals in the hospitality and tourism industry.

The Use of Electronic Banking and New Technologies in Cash Management

2011 ◽  
pp. 3914-3920
Author(s):  
Leire San Jose Ruiz de Aguirre
Keyword(s):  
Information And Communication Technologies ◽  
Economies Of Scale ◽  
New Technologies ◽  
Driving Forces ◽  
Communication Technologies ◽  
Cash Management ◽  
Unit Costs ◽  
New Information ◽  
Information And Communication

The use of new information and communication technologies (ICT) as a business tool has increased rapidly for the past 10 years (Bonsón, Coffin, & Watson, 2000; Claessens, Glaessner, & Klingebiel, 2000; Vasarhelyi & Greenstein, 2003). More specifically, financial software, e-banking, and the Internet, as core aspects of the various technologies used, have become driving forces behind the expansion of firms and the development of cash management. New technologies are considered as one of the most attractive ways for businesses to increase revenue and achieve economies of scale that can reduce unit costs (Ballantine & Stray, 1998; Barajas & Villanueva, 2001; Daniel, 1999; Daniel & Storey, 1997; Deyoung, 2001; Downes & Muy, 1998; Faulder, 2001; Jayawardhena & Foley, 2000). There are different studies about the use of ICT in the management of the enterprise that explain the obtaining of enterprise performance. Brynjolfsson and Hitt (2000) and Nájera (2005) have done a review of these works and a classification of these types of researches. Unfortunately, there are not specific works or empirical researches about the use of e-banking in cash management; consequently, this work is focused in this. The rest of the chapter is structured as follows. The theoretical foundation on which the study is based is explained in Section 2. Section 3 presents the data and the analysis procedure used to conduct the empirical study. The main results of the investigation are shown in Section 4, and Section 5 presents conclusions. The chapter ends with a list of bibliographical references.

EIS for Consumers Classification and Support Decision Making in a Power Utility Database

2011 ◽  
pp. 103-118
Author(s):  
Juan Ignacio Guerrero Alonso ◽  
Carlos León de Mora ◽  
Félix Biscarri Triviño ◽  
Iñigo Monedero Goicoechea ◽  
Jesús Biscarri Triviño ◽  
...  
Keyword(s):  
New Technologies ◽  
Storage System ◽  
System Capacity ◽  
Access Time ◽  
Enterprise Information System ◽  
Enterprise Information ◽  
Power Utility ◽  
Enterprise Information Systems ◽  
Automatic Treatment

The increasing of the storage system capacity and the reduction of the access time have allowed the development of new technologies which have afforded solutions for the automatic treatment of great databases. In this chapter a methodology to create Enterprise Information Systems which are capable of using all information available about customers is proposed. As example of utilization of this methodology, an Enterprise Information System for classification of customer problems is proposed. This EIS implements several technologies. Data Warehousing and Data Mining are two technologies which can analyze automatically corporative databases. Integration of these two technologies is proposed by the present work together with a rule based expert system to classify the utility consumption through the information stored in corporative databases.

DSM for Energy Optimization and Communications Within Smart Grid CPSs

2022 ◽  
pp. 506-528
Author(s):  
Sa'ed Abed ◽  
Areej Abdelaal ◽  
Amjad Gawanmeh
Keyword(s):  
Developing Countries ◽  
Smart Grid ◽  
Energy Demand ◽  
New Technologies ◽  
Power Grid ◽  
Energy Optimization ◽  
Cyber Physical Systems ◽  
Optimization Techniques ◽  
Grid System ◽  
Potential Solution

Energy demand has increased significantly in the recent years due to the emerging of new technologies and industries, in particular in the developing countries. This increase requires much more developed power grid system than the existing traditional ones. Smart grid (SG) offers a potential solution to this problem. Being one of the most needed and complex cyber-physical systems (CPS), SG has been addressed exhaustively by researchers, from different views and aspects. However, energy optimization yet needs much more studying and examination. Therefore, this chapter presents a comprehensive investigation and analysis of the state-of-the-art developments in SG as a CPS with emphasis on energy optimization techniques and challenges. It also surveys the main challenges facing the SG considering CPS factors and the remarkable accomplishments and techniques in addressing these challenges. In addition, the document contrasts between different techniques according to their efficiency, usage, and feasibility. Moreover, this work explores the most effective applications of the SG as a CPS.

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