J
2015
THE USE OF MONTE CARLO SIMULATION IN HOTEL REVENUE MANAGEMENT
PETŘÍČEK, Martin and Martina SOCHŮRKOVÁ
Basic information
Original name
THE USE OF MONTE CARLO SIMULATION IN HOTEL REVENUE MANAGEMENT
Authors
PETŘÍČEK, Martin and Martina SOCHŮRKOVÁ
Edition
Czech Hospitality and Tourism Papers, Praha 8, Vysoká škola hotelová v Praze 8, spol. s r. o. 2015, 1801-1535
Other information
Type of outcome
Článek v odborném periodiku
Confidentiality degree
není předmětem státního či obchodního tajemství
Organization unit
University College Prague – University of International Relations and Institute of Hospitality Management and Economics, Ltd.
Keywords in English
business intelligence, Monte Carlo simulation, revenue management
V originále
The paper describes the connection of Revenue Management software in the hospitality industry and of the use of simulation approaches for estimating future revenues. The mail goal of the article is to apply the Monte Corle simulation method to Revenue Management of particular hotel. Attention is focused exclusively on the Monte Carlo probabilistic simulation. Total output can then be used for further analysis and financial planning in the hotel.
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