Please use this identifier to cite or link to this item:
http://hdl.handle.net/10397/104876
Title: | Modeling no-shows, cancellations, overbooking, and walk-ins in restaurant revenue management | Authors: | Tse, TSM Poon, YT |
Issue Date: | 2017 | Source: | Journal of foodservice business research, 2017, v. 20, no. 2, p. 127-145 | Abstract: | Few studies have examined overbooking in the restaurant industry. The authors observed the business situation in a restaurant in Hong Kong over 2 years, noted how demand exceeded supply on a regular basis, and analyzed the reservation data. The reservation data were used to estimate the no-show/cancellation probability and walk-ins for lunch and dinner on different days of the week, to illustrate the model, and to arrive at the optimal booking limits. A conceptual model was developed which would take into consideration the business situation, no-shows, cancellations, and walk-ins to determine the booking limit for maximizing the expected total revenue. | Keywords: | Cancellations No-shows Overbooking Restaurant revenue management Walk-ins |
Publisher: | Taylor & Francis | Journal: | Journal of foodservice business research | ISSN: | 1537-8020 | EISSN: | 1537-8039 | DOI: | 10.1080/15378020.2016.1198626 | Rights: | © 2017 Taylor & Francis This is an Accepted Manuscript of an article published by Taylor & Francis in Journal of Foodservice Business Research on 29 Jun 2016 (published online), available at: http://www.tandfonline.com/10.1080/15378020.2016.1198626. |
Appears in Collections: | Journal/Magazine Article |
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File | Description | Size | Format | |
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Tse_Modeling_No-Shows_Cancellations.pdf | Pre-Published version | 423.49 kB | Adobe PDF | View/Open |
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