Choice-Based Revenue Management with Applications to Hotels

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  Intense competition, fast changing technology, increased and diverse
  customer demand, and fast and reliable services and goods delivery
  expectations have reduced the profit margins for products. To be able to
  obtain a sustainable economic success, companies search for ways to offer
  the existing products via innovative ways. Revenue management is a tool
  that helps firms in this purpose. On the other hand, to match and even
  exceed customer anticipations, firms need to understand customer
  preferences and offer products accordingly. Customers can now reach
  wide range of competitor products due to online services. Hence it became
  much more important to apprehend and integrate customer choices into
  decision support tools. At this point, choice models are used to
  mathematically understand the customer choice preferences among a set
  of presented alternatives. This book combines revenue management and
  choice models to present a methodology to understand customer choices
  and integrate these to revenue management methods to be able to offer
  the best set of products to the customers. Also real life applications for
  hotels have been presented for different methods that are discussed and
  also proposed in this book with respective algorithms. When combined
  with decision support tools, concepts presented in this book offers a
  significant revenue increase for companies.