Towards a knowledge discovery framework for yield management in the Hong Kong hotel industry

Tat Y. Choi, Wing Sing Cho

Research output: Journal article publicationJournal articleAcademic researchpeer-review

33 Citations (Scopus)

Abstract

Yield management is a technique focusing management decision making on maximizing revenue or profit from the sale of hotel rooms. In our study, we develop a yield management technique for maximizing revenue using a probabilistic rule-based framework in Knowledge Discovery technique. The paper starts the investigation with a theoretical framework that sets the profit maximization criteria for a hotel. The key role of yield management is to provide hotel managers with an effective means to achieve maximum revenue in a changing market environment by allocating the sale of accommodations to different customer categories through a set of decision rules.
Original languageEnglish
Pages (from-to)17-31
Number of pages15
JournalInternational Journal of Hospitality Management
Volume19
Issue number1
DOIs
Publication statusPublished - 1 Jan 2000

Keywords

  • Decision support system
  • Knowledge discovery
  • Yield management

ASJC Scopus subject areas

  • Tourism, Leisure and Hospitality Management
  • Strategy and Management

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