System and method for optimizing revenue and/or bookings from collected demand data in a buyer driven commerce system
US7333941B1 · kind B1 · utility
Assignee
Inventor
Key dates
| Filing date | Aug 31, 2001 |
| Grant date | Feb 19, 2008 |
| Priority date | — |
| Expiry date | Mar 22, 2025 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Methods for optimizing hotel revenues for a predetermined sale margin, optimizing room nights for a predetermined amount of margin, optimizing margin amounts for a predetermined amount of room nights, and reports based on the same are disclosed. Demand data is collected from conditional purchase offers submitted to the buyer-driven commerce system by potential buyers. Those conditional purchase offers which preferably are rejected are analyzed in order to determine parameters, which may result in increased revenues for the system operator of the buyer-driven commerce system or for participants who sell room nights through the system. Collected demand data may include an offer price, during which the buyer would like to purchase the room nights, or a promotional bump amount. Reports of expected changes in demand based upon the simulated changes to the business parameters are generated and presented to hotel operators, who may change acceptance parameters based on the reports.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.