Browsing by Author "Saleh, Mohamed"

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    Dynamic Pricing for Hotel Revenue Management Using Price Multipliers
    Bayoumi, Abd El-Moniem; Saleh, Mohamed; Ativa, Amir F.; Aziz, Heba Abdel (Journal of Revenue Pricing Management, 2013)
    In this paper it is proposed a new dynamic pricing approach for the hotel revenue management problem. The proposed approach is based on having “price multipliers” that vary around “1” and provide a varying discount/premium over some seasonal reference price. The price multipliers are a function of certain influencing variables (for example hotel occupancy, time till arrival, etc). We apply an optimization algorithm for determining the parameters of these multipliers, the goal being to maximize the revenue, taking into account current demand, and the demand-price sensitivity of the hotel’s guest. The optimization algorithm makes use of a Monte Carlo simulator that simulates all the hotel’s processes, such as reservations arrivals, cancellations, duration of stay, no shows, group reservations, seasonality, trend, etc, as faithfully as possible. We have tested the proposed approach by successfully applying it to the revenue management problem of Plaza Hotel, Alexandria, Egypt, as a case study.
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    Dynamic room pricing model for hotel revenue management systems
    Aziz, Heba Abdel; Saleh, Mohamed; Rasmy, Mohamed H.; ElShishiny, Hisham (Elsevier, 2011)
    This paper addresses the problem of room pricing in hotels. We propose a hotel revenue management model based on dynamic pricing to provide hotel managers with a flexible and efficient decision support tool for room revenue maximization. The two pillars of the proposed framework are a novel optimization model, and a multi-class scheme similar to the one implemented in airlines. Our hypothesis is that this framework can overcome the limitations associated with the research gaps in pricing literature; and can also contribute significantly in increasing the revenue of hotels. We test this hypothesis on three different approaches, and the results show an increase in revenue compared to the classical model used in literature.