Important Trends That Have Changed Since The Original Rm Algorithms Were Develop

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  • Important trends that have changed since the original RM algorithms were developed?
  • What is the basis for the theory of price optimization?
  • Describe the elements of an optimization problem.
  • What is the goal for price optimization in hotels?
  • What role do competitive price effects play in the price optimization decision?
  • Why in today’s social world will price optimization general more revenue than traditional / original revenue management techniques?

McGuire, Kelly A. (2016). Hotel pricing in a social world: Driving value in the digital economy. Hoboken, NJ: John Wiley & Sons, Inc

Read chapter 2: Demystifying Price Optimization

 
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