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Revenue management for homestay with TODIM-integrated EMSR-b

Author

Listed:
  • Kedar Pandurang Joshi

    (T A Pai Management Institute)

  • Amol Dhaigude

    (T A Pai Management Institute)

Abstract

Homestays have become an integral part of sustainable tourism business in south west of Karnataka. We present an integrated method to allocate capacity that maximises revenue for a homestay during their peak and slack season. Here, TODIM is applied to understand their competitive positioning in the region. Further, integrating Monto-Carlo simulation with EMSR-b heuristics booking limits for each package class is determined. The results show that homestay owner needs to reduce protection interval for gold, platinum, and silver packages. Customers also get benefitted because of the variety of packages available during the respective seasons, which will lead to more customer satisfaction.

Suggested Citation

  • Kedar Pandurang Joshi & Amol Dhaigude, 2021. "Revenue management for homestay with TODIM-integrated EMSR-b," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 20(2), pages 134-148, April.
    • Handle: RePEc:pal:jorapm:v:20:y:2021:i:2:d:10.1057_s41272-021-00296-0
    DOI: 10.1057/s41272-021-00296-0
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    References listed on IDEAS

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