e-journal
Optimizing hotel booking through simulation modeling
The goal of the project is to optimize, implement and analyze the usage of simulation models in hotel bookings, and its particular economic efficiency. The key steps for achieving a functional system, the Austrian hotel market has been reviewed, various similar simulation models were studied and a new simulation technique was created and applied. After applying the simulation model to a given hotel, the results were collected and reviewed.
Key words: hotel capacity, double booking, simulation modeling, risk management
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