A framework of revenue opportunity in hotel management - an optimal room allocation approach
With all the published research on hotel Revenue Management (RM), a framework to guide a comprehensive hotel RM is rare in the extant literature. This research proposes a complete revenue opportunity framework for applying a traditional revenue management model for controlling room inventories for hotels. We propose and describe the framework and the model in this paper. The finished research will use archived data from a major hotel chain and apply the framework for generating controls for managing hotel room inventories to maximize revenue.