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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
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    References listed on IDEAS

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    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.
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