Group revenue management: Redefining the business process — Part I

Yuen, Benson B

doi:10.1057/palgrave.rpm.5170029

Cited by 7 publications

(2 citation statements)

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“…It has a wide range of applications, including hotel room assignments [94] , amphitheater [95] , public transport [96] , educational institutions [97] , sports arenas [98] , warehouses [99] , and large-scale events [100] , among others. It has substantial effects on passenger satisfaction and revenue; as [101] illustrates, passenger groups increase revenue by filling seats that would otherwise be empty.…”

Section: Related Literaturementioning

confidence: 99%

Social distancing and revenue management—A post-pandemic adaptation for railways

Haque

Hamid

2023

Omega

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Section: Related Literaturementioning

confidence: 99%

Social distancing and revenue management—A post-pandemic adaptation for railways

Haque

Hamid

2023

Omega

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“…As noted by Yuen [36] and Farley [13], there has been very little written about the purchase of bundles of products in the RM literature. This is not too surprising, however, since much of the research in RM has been conducted in the travel industry.…”

Section: Literature Reviewmentioning

confidence: 99%

Optimal timing of switches between product sales for sports and entertainment tickets

Drake

Duran

Griffin

et al. 2007

Naval Research Logistics

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Like airlines and hotels, sports teams and entertainment venues can benefit from revenue management efforts for their ticket sales. Teams and entertainment venues usually offer bundles of tickets early in their selling horizon and put single-event tickets on sale at a later date; these organizations must determine the best time to offer individual tickets because both types of ticket sales consume the same fixed inventory. We model the optimal a priori timing decision for a seller with a fixed number of identical tickets to switch from selling the tickets as fixed bundles to individual tickets to maximize the revenue realized before the start of the performance season. We assume that bundle and single-ticket customers each arrive according to independent, nonhomogeneous Markovian death processes with a linear death rate that can vary over time and that the benefit from selling a ticket in a package is higher than from selling the ticket individually. We characterize the circumstances in which it is optimal for the seller to practice mixed bundling and when the seller should only sell bundles or individual tickets, and we establish comparative statics for the optimal timing decision for the special case of constant customer arrival rates. We extend our analytical results to find the optimal time for offering two groups of tickets with high and low demand. Finally, we apply the timing model to a data set obtained from the sports industry.

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Revenue Management of the Base Fare

Vinod¹

2021

Management for Professionals

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Group revenue management: Redefining the business process — Part I

Cited by 7 publications

References 0 publications

Social distancing and revenue management—A post-pandemic adaptation for railways

Social distancing and revenue management—A post-pandemic adaptation for railways

Optimal timing of switches between product sales for sports and entertainment tickets

Revenue Management of the Base Fare

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