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Journal of Applied Sciences
Year: 2013  |  Volume: 13  |  Issue: 15  |  Page No.: 2998 - 3000

Model and Application of Promtional Pricing for Hotel Rooms

Ji Yan, Liu Hong and GU Mingchong    

Abstract: This essay studies on the problem of pricing of hotel rooms when promoted as slack season. The promotional pricing of hotel rooms is studied taking account of their sales characteristics,discount rates,room occupancy rate, room over the determination and so on. A dynamic pricing model is thus developed to minimize the loss of profit on a restricted condition that the volume of rooms is needed to sell off. For the genetic application and particle swarm, pricing is given with optimal cost. The effect of pricing on loss of profit is analyzed through a simulation. This study aims to provide an important reference for promotional decision-making at the hotel industry.

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