scholarly journals Model of Price Optimization as a Part of Hotel Revenue Management—Stochastic Approach

Mathematics ◽  
2021 ◽  
Vol 9 (13) ◽  
pp. 1552
Author(s):  
Martin Petricek ◽  
Stepan Chalupa ◽  
David Melas
Keyword(s):  
Revenue Management ◽  
Price Elasticity ◽  
Lead Time ◽  
Stochastic Approach ◽  
Point Of View ◽  
Second Step ◽  
Reservation Price ◽  
Economic Point ◽  
Price Optimization ◽  
Simulation Based

The paper is focusing on the problem of price optimization in the area of accommodation services. The main aim is to propose a novel simulation-based methodology of price optimization based on the customer’s price acceptance. The authors create a model based on the known approaches but extended by the stochastic approach and optimization based on the coefficient of price elasticity. The whole model is created, the price is set and optimized in two steps. The first step makes segmentation and optimization (with the price elasticity approach). The second step then sets the price of the reservation—the final price for a customer. This reservation price is mainly determined by knowledge of the length of stay, occupancy and booking lead time. All those parameters are described in the text from the economic point of view and make the base for the whole and complex revenue management model.

scholarly journals Investigating the Electrical Demand-Side Management Potential of Industrial Steam Supply Systems Using Dynamic Simulation

Energies ◽  
2021 ◽  
Vol 14 (6) ◽  
pp. 1533
Author(s):  
Fabian Borst ◽  
Nina Strobel ◽  
Thomas Kohne ◽  
Matthias Weigold
Keyword(s):  
Control Strategies ◽  
Supply System ◽  
Point Of View ◽  
Power Grids ◽  
Steam Generation ◽  
Economic Point ◽  
Chemical Company ◽  
Simulation Based ◽  
Flexibility Measures ◽  
Supply Systems

The increasing share of volatile, renewable energies, such as wind and solar power, leads to challenges in the stabilization of power grids and requires more flexibility in future energy systems. This article addresses the flexibilization of the consumer side and presents a simulation-based method for the technical and economic investigation of energy flexibility measures in industrial steam supply systems. The marketing of three different energy-flexibility measures—bivalence, inherent energy storage and adjusting process parameters—both at the spot market and at the balancing power market, are investigated from a technical as well as an economic point of view. Furthermore, the simulation-based methodology also considers pressure and temperature fluctuation induced by energy-flexibility measures. First, different energy-flexibility measures for industrial steam supply systems are introduced. Then, the physical modeling of the steam generation, distribution, and consumption as well as measure-specific control strategies will be discussed. Finally, the methodology is applied to a steam supply system of a chemical company. It is shown that the investigated industrial steam supply system shows energy-flexibility potentials up to 10 MW at peak and an annual average of 5.6 MW, which highly depend on consumer behavior and flexibility requirements.

Sophie Laws, with Caroline Harper and Rachel Marcus. Research for Development: A Practical Guide. New Delhi: Vistaar Publications. 2003. xiii+475 pages. Paperback. Indian Rupees 450.00.

2003 ◽  
Vol 42 (2) ◽  
pp. 170-172
Author(s):  
Mir Annice Mahmood
Keyword(s):  
Policy Research ◽  
Point Of View ◽  
Basic Question ◽  
New Delhi ◽  
Economic Point ◽  
Scarce Resources ◽  
Is Research ◽  
The Subject ◽  
Development Workers

To implement any successful policy, research about the subject-matter is essential. Lack of knowledge would result in failure and, from an economic point of view, it would lead to a waste of scarce resources. The book under review is essentially a manual which highlights the use of research for development. The book is divided into two parts. Part One informs the reader about concepts and some theory, and Part Two deals with the issue of undertaking research for development. Both parts have 11 chapters each. Chapter 1 asks the basic question: Is research important in development work? The answer is that it is. Research has many dimensions: from the basic asking of questions to the more sophisticated broad-based analysis of policy issues. The chapter, in short, stresses the usefulness of research which development workers ignore at their own peril.

Bleak Weather for Sun-Shine AG: A Case Study of Impairment of Assets

2014 ◽  
Vol 30 (2) ◽  
pp. 113-126 ◽  
Author(s):  
Dominic Detzen ◽  
Tobias Stork genannt Wersborg ◽  
Henning Zülch
Keyword(s):  
Real Life ◽  
Accounting Standards ◽  
Point Of View ◽  
Professional Judgment ◽  
Economic Point ◽  
Instructional Resource

ABSTRACT This case originates from a real-life business situation and illustrates the application of impairment tests in accordance with IFRS and U.S. GAAP. In the first part of the case study, students examine conceptual questions of impairment tests under IFRS and U.S. GAAP with respect to applicable accounting standards, definitions, value concepts, and frequency of application. In addition, the case encourages students to discuss the impairment regime from an economic point of view. The second part of the instructional resource continues to provide instructors with the flexibility of applying U.S. GAAP and/or IFRS when students are asked to test a long-lived asset for impairment and, if necessary, allocate any potential impairment. This latter part demonstrates that impairment tests require professional judgment that students are to exercise in the case.

The Role of Economic Evaluation in Dissemination and Implementation Research

2017 ◽  
Author(s):  
Ramesh Raghavan
Keyword(s):  
Service Providers ◽  
Implementation Strategies ◽  
Cost Effective ◽  
Point Of View ◽  
Dissemination And Implementation ◽  
Economic Point ◽  
Open Questions ◽  
Public Health Organizations ◽  
Quality Health ◽  
Dissemination And Implementation Research

This chapter presents an overview of how D&I research can be evaluated from an economic point of view. Dissemination and implementation imposes costs upon knowledge purveyors, provider organizations, public health organizations, and payers (including governments). However, whether these added costs will result in improved service delivery and, perhaps more importantly, client outcomes and improvements in population health remain as open questions. If emerging studies reveal that defined implementation strategies are more cost effective than “usual” implementation, then policymakers and service providers will need to resource these added costs of implementation in order to assure the success and sustainability of high-quality health services over the long term.

scholarly journals The “Zero Miles Product” Concept Applied to Biofuel Production: A Case Study

Energies ◽  
2021 ◽  
Vol 14 (3) ◽  
pp. 565
Author(s):  
Nikolaj Kaae Kirk ◽  
Clara Navarrete ◽  
Jakob Ellegaard Juhl ◽  
José Luis Martínez ◽  
Alessandra Procentese
Keyword(s):  
Sugar Content ◽  
Point Of View ◽  
Biofuel Production ◽  
Transport Costs ◽  
Economic Point ◽  
Product Concept ◽  
Energy Demands ◽  
Production Platform ◽  
High Sugar Content

To make biofuel production feasible from an economic point of view, several studies have investigated the main associated bottlenecks of the whole production process through approaches such as the “cradle to grave” approach or the Life Cycle Assessment (LCA) analysis, being the main constrains the feedstock collection and transport. Whilst several feedstocks are interesting because of their high sugar content, very few of them are available all year around and moreover do not require high transportation’ costs. This work aims to investigate if the “zero miles” concept could bring advantages to biofuel production by decreasing all the associated transport costs on a locally established production platform. In particular, a specific case study applied to the Technical University of Denmark (DTU) campus is used as example to investigate the advantages and feasibility of using the spent coffee grounds generated at the main cafeteria for the production of bioethanol on site, which can be subsequently used to (partially) cover the campus’ energy demands.

scholarly journals Comparison between Concentrated Solar Power and Gas-Based Generation in Terms of Economic and Flexibility-Related Aspects in Chile

Energies ◽  
2021 ◽  
Vol 14 (4) ◽  
pp. 1063
Author(s):  
Catalina Hernández Moris ◽  
Maria Teresa Cerda Guevara ◽  
Alois Salmon ◽  
Alvaro Lorca
Keyword(s):  
Natural Gas ◽  
Solar Power ◽  
Renewable Energy Sources ◽  
Cost Effective ◽  
Hybrid Plant ◽  
Point Of View ◽  
Concentrated Solar Power ◽  
Economic Point ◽  
Hybrid Plants ◽  
Cost Of Energy

The energy sector in Chile demands a significant increase in renewable energy sources in the near future, and concentrated solar power (CSP) technologies are becoming increasingly competitive as compared to natural gas plants. Motivated by this, this paper presents a comparison between solar technologies such as hybrid plants and natural gas-based thermal technologies, as both technologies share several characteristics that are comparable and beneficial for the power grid. This comparison is made from an economic point of view using the Levelized Cost of Energy (LCOE) metric and in terms of the systemic benefits related to flexibility, which is very much required due to the current decarbonization scenario of Chile’s energy matrix. The results show that the LCOE of the four hybrid plant models studied is lower than the LCOE of the gas plant. A solar hybrid plant configuration composed of a photovoltaic and solar tower plant (STP) with 13 h of storage and without generation restrictions has an LCOE 53 USD/MWh, while the natural gas technology evaluated with an 85% plant factor and a variable fuel cost of 2.0 USD/MMBtu has an LCOE of 86 USD/MWh. Thus, solar hybrid plants under a particular set of conditions are shown to be more cost-effective than their closest competitor for the Chilean grid while still providing significant dispatchability and flexibility.

scholarly journals Landslide Awareness System (LAwS) to Increase the Resilience and Safety of Transport Infrastructure: The Case Study of Pan-American Highway (Cuenca–Ecuador)

2021 ◽  
Vol 13 (8) ◽  
pp. 1564
Author(s):  
Pietro Miele ◽  
Mariano Di Di Napoli ◽  
Luigi Guerriero ◽  
Massimo Ramondini ◽  
Chester Sellers ◽  
...  
Keyword(s):  
Point Of View ◽  
Transport Infrastructure ◽  
Slope Failures ◽  
Network Systems ◽  
Socioeconomic Impacts ◽  
Economic Point ◽  
Infrastructure Monitoring ◽  
Ground Deformations ◽  
Pan American

In most countries, landslides have caused severe socioeconomic impacts on people, cities, industrial establishments, and lifelines, such as highways, railways, and communication network systems. Socioeconomic losses due to slope failures are very high and they have been growing as the built environment expands into unstable hillside areas under the pressures of growing populations. Human activities as the construction of buildings, transportation routes, dams, and artificial canals have often been a major factor for the increasing damage due to slope failures. When recovery actions are not durable from an economic point of view, increasing the population’s awareness is the key strategy to reduce the effects of natural and anthropogenic events. Starting from the case study of the Pan-American Highway (the Ecuadorian part), this article shows a multi-approach strategy for infrastructure monitoring. The combined use of (i) DInSAR technique for detection of slow ground deformations, (ii) field survey activities, and (iii) the QPROTO tool for analysis of slopes potentially prone to collapse allowed us to obtain a first cognitive map to better characterize 22 km of the highway between the cities of Cuenca and Azogues. This study is the primary step in the development of a landslide awareness perspective to manage risk related to landslides along infrastructure corridors, increasing user safety and providing stakeholders with a management system to plan the most urgent interventions and to ensure the correct functionality of the infrastructure.

Revenue management and price optimization techniques in the hotel sector

2018 ◽  
Vol 24 (6) ◽  
pp. 720-752 ◽  
Author(s):  
Aldric Vives ◽  
Marta Jacob ◽  
Marga Payeras
Keyword(s):  
Revenue Management ◽  
Airline Industry ◽  
New Technologies ◽  
Customer Segmentation ◽  
Optimization Techniques ◽  
Hotel Management ◽  
Price Optimization ◽  
Hotel Sector ◽  
Measurement Effects

Pricing and revenue management (RM) techniques have become a popular field of research in hotel management literature. The sector’s background framework and evolution and the widespread use of new technologies have allowed a customer-oriented approach to be taken to pricing and the development of RM tools, while also contributing to better processes in hotel management performance at individual hotel level. Thus, price optimization (PO) methods that seek to maximize hotel revenue are based on inventory scarcity, customer segmentation and pricing. In the hotel sector, as in the airline industry, different pricing policies have a greater impact than competition measurement effects. This is mainly as differentiation strategies and specific policies at hotels can reduce the pressure of a competitive environment. The main contributions of the article are the presentation, description and classification of the principal RM and PO techniques in hotel sector literature.

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