Abstract and Keywords
This article introduces the models and algorithms behind many revenue management (RM) software implementations. It is organized as follows. Section 26.2 describes the RM process, covering product design and broader managerial and competitive RM concerns. Section 26.3 discusses models and algorithms for single-resource revenue management, the operational control of sales for a single resource. Section 26.4 covers network revenue management, which is concerned with controlling the sale of products that consume multiple resources (such as multi-night stays for hotels). Section 26.5 discusses some auxiliary operational issues of RM, and concludes with some suggestions for further reading.
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