{"product_id":"price-engineering-for-smes-in-the-hotel-industry-von-octavian-catalin-cucu","title":"Price Engineering for SMEs in the Hotel Industry","description":"\u003cp\u003eThe advent of the Internet era changed the way  business is conducted, especially in the hotel industry. The existent literature argues that the  online booking revolution diminishes the effectiveness of traditional revenue management  systems (Schwartz, 2008). The present paper shows  that, on the contrary, online booking and revenue  management perfectly complement each other. In  particular, light algorithms are used to construct a  pricing policy which can and should be used by  managers of small size hotels. The price engineering endeavor is based on both simulated  demand following a Poisson distribution and on the  pricing policy of competing 2-star hotels in the  vicinity of the Vrijthof Square, Maastricht.  Regression analysis is used to determine the  relation between the competitors'' prices and the  quantitative and qualitative independent variables  chosen for this model. The light algorithm presented  in this paper uses easily accessible software packages such as Microsoft Excel, simulation tools  and online booking sites. The chosen approach adds a  new dimension to asset management, thus enriching and improving the managerial decision  process.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783844305265\"\u003e\u003ch3\u003eMaster''s Thesis proving how hotel online booking and revenue management techniques harmoniously  complement each other\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783844305265","offer_id":39495953875037,"sku":"9783844305265","price":49.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/10054931-b3eb-4e13-b95f-bce5634862ff.jpg?v=1775623631","url":"https:\/\/shop.autorenwelt.de\/products\/price-engineering-for-smes-in-the-hotel-industry-von-octavian-catalin-cucu","provider":"Autorenwelt Shop","version":"1.0","type":"link"}