Make me an Offer: Forward and Reverse Auctioning Problems in the Tourism Industry.
CoRR(2023)
摘要
Most tourist destinations are facing regular and consistent seasonality with
significant economic and social impacts. This phenomenon is more pronounced in
the post-covid era, where demand for travel has increased but unevenly among
different geographic areas. To counter these problems that both customers and
hoteliers are facing, we have developed two auctioning systems that allow
hoteliers of lower popularity tier areas or during low season periods to
auction their rooms in what we call a forward auction model, and also allows
customers to initiate a bidding process whereby hoteliers in an area may make
offers to the customer for their rooms, in what constitutes a reverse auction
model initiated by the customer, similar to the bidding concept of
priceline.com. We develop mathematical programming models that define
explicitly both types of auctions, and show that in each type, there are
significant benefits to be gained both on the side of the hotelier as well as
on the side of the customer. We discuss algorithmic techniques for the
approximate solution of these optimization problems, and present results using
exact optimization solvers to solve them to guaranteed optimality. These
techniques could be beneficial to both customer and hotelier reducing
seasonality during middle and low season and providing the customer with
attractive offers.
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