In this paper, we investigate an optimal room charge problem for a hotel that considers maximization of the expected sales. We introduce a waterfall model and a multinomial logit model for hotels in the same area and the same price range which offer limited number of rooms. The models reflect...

In this paper, we introduce a model that incorporates features of the fully transparent hotel booking systems and enables estimates of hotel choice probabilities in a group based on the room charges. Firstly, we extract necessary information for the estimation from big data of online booking for...