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A bertrand game-based approach to hotel yield management strategies

This chapter examines hotel yield management from a game perspective using a duopoly situation of two hotels. The hotel yield management determines strategies by considering the number of available rooms in the Bertrand situation. Each hotel does not know the strategies adopted by a competitive hote...

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Main Authors: Watada, J., Yoshimura, K., Vasant, P.
Format: Book
Published: IGI Global 2016
Online Access:https://www.scopus.com/inward/record.uri?eid=2-s2.0-85016561480&doi=10.4018%2f978-1-5225-1054-3.ch002&partnerID=40&md5=a29132ab14f7f14d846b3262588d59bc
http://eprints.utp.edu.my/30797/
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spelling my.utp.eprints.307972022-03-25T07:33:28Z A bertrand game-based approach to hotel yield management strategies Watada, J. Yoshimura, K. Vasant, P. This chapter examines hotel yield management from a game perspective using a duopoly situation of two hotels. The hotel yield management determines strategies by considering the number of available rooms in the Bertrand situation. Each hotel does not know the strategies adopted by a competitive hotel. We derive the strategy that realizes a maximum profit under a given situation and constraints. Furthermore, we validate the game-based strategy developed for hotel yield management. In the real world, a business manager adopts an optimum strategy of yield management to gain profits in the current conditions; after the initial strategy is chosen, however, managers continuously weigh new strategies and investments. Therefore, we import the method of real option. Such maneuvers and investments are required to build new strategies amidst competition in the industry. © 2017, IGI Global. IGI Global 2016 Book NonPeerReviewed https://www.scopus.com/inward/record.uri?eid=2-s2.0-85016561480&doi=10.4018%2f978-1-5225-1054-3.ch002&partnerID=40&md5=a29132ab14f7f14d846b3262588d59bc Watada, J. and Yoshimura, K. and Vasant, P. (2016) A bertrand game-based approach to hotel yield management strategies. IGI Global, pp. 27-66. http://eprints.utp.edu.my/30797/
institution Universiti Teknologi Petronas
building UTP Resource Centre
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Petronas
content_source UTP Institutional Repository
url_provider http://eprints.utp.edu.my/
description This chapter examines hotel yield management from a game perspective using a duopoly situation of two hotels. The hotel yield management determines strategies by considering the number of available rooms in the Bertrand situation. Each hotel does not know the strategies adopted by a competitive hotel. We derive the strategy that realizes a maximum profit under a given situation and constraints. Furthermore, we validate the game-based strategy developed for hotel yield management. In the real world, a business manager adopts an optimum strategy of yield management to gain profits in the current conditions; after the initial strategy is chosen, however, managers continuously weigh new strategies and investments. Therefore, we import the method of real option. Such maneuvers and investments are required to build new strategies amidst competition in the industry. © 2017, IGI Global.
format Book
author Watada, J.
Yoshimura, K.
Vasant, P.
spellingShingle Watada, J.
Yoshimura, K.
Vasant, P.
A bertrand game-based approach to hotel yield management strategies
author_facet Watada, J.
Yoshimura, K.
Vasant, P.
author_sort Watada, J.
title A bertrand game-based approach to hotel yield management strategies
title_short A bertrand game-based approach to hotel yield management strategies
title_full A bertrand game-based approach to hotel yield management strategies
title_fullStr A bertrand game-based approach to hotel yield management strategies
title_full_unstemmed A bertrand game-based approach to hotel yield management strategies
title_sort bertrand game-based approach to hotel yield management strategies
publisher IGI Global
publishDate 2016
url https://www.scopus.com/inward/record.uri?eid=2-s2.0-85016561480&doi=10.4018%2f978-1-5225-1054-3.ch002&partnerID=40&md5=a29132ab14f7f14d846b3262588d59bc
http://eprints.utp.edu.my/30797/
_version_ 1738657158184042496
score 13.211869

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