Competitive Pricing and Optimal Capacity Model for Hotel Revenue Management in COVID-19 Pandemic

Hotel provides some facility for customer’s and earn revenue. Many challenges might be faced by the management in this regard. Hotel management has to follow some strategy to earn maximum revenue in this COVID-19 pandemic due to less demand. Revenue management has been used to model characterized products. In this paper we developed a Revenue Management model in terms of price and room allocation. Price is the sole factor in this model. We use two types of demand model one is Deterministic Demand Model and another is Stochastic Demand Model to develop pricing model. And we analyze only Deterministic Demand Model in this paper. We also developed occupancy rate model in terms of price by using both Deterministic and Stochastic model. And we want to show how the hotels gain more revenue by using capacity and pricing model.

• Supervision