Journal of Hotel and Business Management
Open Access
ISSN: 2169-0286
+44 1478 350008
ISSN: 2169-0286
+44 1478 350008
Ebiendele E Peter
School of General Studies, Auchi Polytechnic,
Nigeria
Research Article
Design and Implementation of Mathematical Model for Revenue Management in Hospitality Industry
Author(s): Ebiendele E Peter and Ebiendele HelenEbiendele E Peter and Ebiendele Helen
Revenue management is the art and science of maximizing revenue under various variable conditions. It is a management tool that has the objective of increasing sale revenues by manipulating the prices at which fixed products in the hotels are made available for sale in relation to the current and forecasted demand. This paper focus on the design and implementation of mathematical model, of the type of linear programming, which will help the revenue managers in the hospitality industry to manage their revenue to enable the hotel’s maximized their contributions. This model becomes necessary today in the hospitality industry, because of the complex decisions facing the hotel’s manager as regarding what product to produce, quantity of the product and services to produce such product and so on. How this model could be applied in the food and beverages department in the hospital.. View More»
DOI:
10.4172/2169-0286.1000175