IDEAS home Printed from https://ideas.repec.org/a/pal/jorapm/v21y2022i3d10.1057_s41272-021-00328-9.html
   My bibliography  Save this article

Comparison of expected marginal revenue models in the hospitality industry

Author

Listed:
  • Martin Petříček

    (Institute of Hospitality Management in Prague)

  • Štěpán Chalupa

    (University of Hradec Kralove)

  • Věra Levičková

    (Institute of Hospitality Management in Prague)

Abstract

This paper focuses on the issue of revenue management models that are based on Littlewood's rule. The main aim of this paper is to compare the Expected Marginal Seat Revenue model in the two variants: EMSRa and EMSRb model. The whole application is made in the hospdels that are based on Littlewood's rule. The main aim of this paper is to compare the Expected Marginal Seat Revenue model in the two variants: EMSRa and EMSRb model. The whole application is made in the hospitality industry and is based on historical data provided by the accommodation facility. The main results show, that there are only a few differences between EMSRa and EMSRb models. Nevertheless, the EMSRb model can be more robust for the facilities with a higher variety of the clients (measured by the standard deviation).

Suggested Citation

  • Martin Petříček & Štěpán Chalupa & Věra Levičková, 2022. "Comparison of expected marginal revenue models in the hospitality industry," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 21(3), pages 299-305, June.
    • Handle: RePEc:pal:jorapm:v:21:y:2022:i:3:d:10.1057_s41272-021-00328-9
    DOI: 10.1057/s41272-021-00328-9
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/s41272-021-00328-9
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1057/s41272-021-00328-9?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Larry Weatherford, 2016. "The history of forecasting models in revenue management," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 15(3), pages 212-221, July.
    2. Sheryl E Kimes, 2016. "The evolution of hotel revenue management," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 15(3), pages 247-251, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Larry Weatherford, 2018. "Simulation shows not to panic about bid price dysfunction close to departure," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 17(6), pages 403-419, December.
    2. Cathy A. Enz & Elizabeth C. James, 2017. "Beyond channel mix management: Building within online travel agencies (OTA) metrics and strategies," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 16(2), pages 109-114, April.
    3. Resul Aydemir & Mehmet Melih Değirmenci & Abdullah Bilgin, 2023. "Estimation of passenger sell-up rates in airline revenue management by considering the effect of fare class availability," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 22(6), pages 501-513, December.
    4. 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.
    5. Selmi, Noureddine & Chaney, Damien, 2018. "A measure of revenue management orientation and its mediating role in the relationship between market orientation and performance," Journal of Business Research, Elsevier, vol. 89(C), pages 99-109.
    6. Kavitha Balaiyan & R. K. Amit & Atul Kumar Malik & Xiaodong Luo & Amit Agarwal, 2019. "Joint forecasting for airline pricing and revenue management," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 18(6), pages 465-482, December.
    7. Ian Yeoman, 2022. "The continuing evolution of revenue management science," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 21(1), pages 1-2, February.
    8. Hao Huang & Yide Liu & Dong Lu, 2020. "Proposing a model for evaluating market efficiency of OTAs: Theoretical approach," Tourism Economics, , vol. 26(6), pages 958-975, September.
    9. Vlasic, Dubravka & Poldrugovac, Katarina & Jankovic, Sandra, 2019. "The Competitive pricing in marina business: Exploring relative price position and price fluctuation," MPRA Paper 93519, University Library of Munich, Germany.
    10. Ian Yeoman, 2024. "Using revenue management and pricing beyond the airline and hotel industries: an ever increasing pathway of success," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 23(5), pages 381-383, October.
    11. Muzaffer Buyruk & Ertan Güner, 2022. "Personalization in airline revenue management: an overview and future outlook," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 21(2), pages 129-139, April.
    12. Timothy Webb, 2022. "Forecasting at capacity: the bias of unconstrained forecasts in model evaluation," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 21(6), pages 645-656, December.
    13. Ernst Ahlberg & Irina Mirkina & Alfred Olsson & Christian Söyland & Lars Carlsson, 2023. "On the selection of relevant historical demand data for revenue management applied to transportation," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 22(4), pages 266-275, August.
    14. Larissa Koupriouchina & Jean-Pierre van der Rest & Zvi Schwartz, 2023. "Judgmental Adjustments of Algorithmic Hotel Occupancy Forecasts: Does User Override Frequency Impact Accuracy at Different Time Horizons?," Tourism Economics, , vol. 29(8), pages 2143-2164, December.
    15. Ziad Alrawadieh & Zaid Alrawadieh & Gurel Cetin, 2021. "Digital transformation and revenue management: Evidence from the hotel industry," Tourism Economics, , vol. 27(2), pages 328-345, March.
    16. Yoon Koh & Amanda Belarmino & Min Gyung Kim, 2020. "Good fences make good revenue: An examination of revenue management practices at peer-to-peer accommodations," Tourism Economics, , vol. 26(7), pages 1108-1128, November.
    17. Alderighi, Marco & Nava, Consuelo R. & Calabrese, Matteo & Christille, Jean-Marc & Salvemini, Chiara B., 2022. "Consumer perception of price fairness and dynamic pricing: Evidence from Booking.com," Journal of Business Research, Elsevier, vol. 145(C), pages 769-783.
    18. Lei Li & Lin Lu & Yuchen Xu & Xiaolong Sun, 2020. "The spatiotemporal evolution and influencing factors of hotel industry in the metropolitan area: An empirical study based on China," PLOS ONE, Public Library of Science, vol. 15(5), pages 1-23, May.
    19. Rennie, Nicola & Cleophas, Catherine & Sykulski, Adam M. & Dost, Florian, 2021. "Identifying and responding to outlier demand in revenue management," European Journal of Operational Research, Elsevier, vol. 293(3), pages 1015-1030.
    20. Ezgi C. Eren & Zhaoyang Zhang & Jonas Rauch & Ravi Kumar & Royce Kallesen, 2024. "Revenue management without demand forecasting: a data-driven approach for bid price generation," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 23(6), pages 499-516, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:jorapm:v:21:y:2022:i:3:d:10.1057_s41272-021-00328-9. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.