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Modelling the rental car pricing and relocation problem

Author

Listed:
  • Tim Madden
  • Robert A. Russell

Abstract

At rental car companies, revenue management activities include: determining rental prices, implementing capacity controls, and repositioning the fleet. A rolling horizon linear programming model is developed to provide decision support and to help to integrate the pricing and relocation decisions. The model incorporates regional rental locations, multiple car classes, different price levels, and different lengths of rent within a 28-day planning horizon. The unique formulation facilitates the solution of the large-scale problem. Computational requirements, results, and implementation difficulties are reported for a regional test problem for a major car rental company.

Suggested Citation

  • Tim Madden & Robert A. Russell, 2012. "Modelling the rental car pricing and relocation problem," International Journal of Revenue Management, Inderscience Enterprises Ltd, vol. 6(3/4), pages 246-257.
    • Handle: RePEc:ids:ijrevm:v:6:y:2012:i:3/4:p:246-257
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    Citations

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    Cited by:

    1. Oliveira, Beatriz Brito & Carravilla, Maria Antónia & Oliveira, José Fernando, 2017. "Fleet and revenue management in car rental companies: A literature review and an integrated conceptual framework," Omega, Elsevier, vol. 71(C), pages 11-26.
    2. Julien Guillen & Pierre Ruiz & Umberto Dellepiane & Ludovica Maccarrone & Raffaele Maccioni & Alessandro Pinzuti & Enrico Procacci, 2019. "Europcar Integrates Forecasting, Simulation, and Optimization Techniques in a Capacity and Revenue Management System," Interfaces, INFORMS, vol. 49(1), pages 1-40, January.
    3. Oliveira, Beatriz Brito & Carravilla, Maria Antónia & Oliveira, José Fernando, 2018. "Integrating pricing and capacity decisions in car rental: A matheuristic approach," Operations Research Perspectives, Elsevier, vol. 5(C), pages 334-356.

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