Method and apparatus for measuring revenue performance for a lodging establishment
US8321286B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Feb 4, 2004 |
| Grant date | Nov 27, 2012 |
| Priority date | — |
| Expiry date | Mar 25, 2029 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Methods and apparatuses for calculating an optimal revenue total yield for both sleeping and function space in a hospitality establishment for a set of demand that includes both group and transient demands. In a preferred embodiment of the invention, the revenue optimization problem is characterized as a mixed-integer linear programming (MILP) problem and solved using MILP techniques. Preferably, a small value is assigned to the “cost” of a room upgrade and the cost of room upgrades are included in the revenue function to be optimized. In some embodiments of the invention, the actual revenue yield is compared to the optimum revenue yield.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.