Browsing by Author "Choi, Tat"
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- Towards a knowledge discovery framework for yield management in the Hong Kong hotel industry [Summary]Cho, Vincent; Choi, Tat (Virginia Tech, 2000-03)Yield management is a technique focusing management decision making on maximizing revenue or profit from the sale of hotel rooms. In our study, we develop a yield management technique for maximizing revenue using a probabilistic rule-based framework in Knowledge Discovery technique. The paper starts the investigation with a theoretical framework that sets the profit maximization criteria for a hotel.