Optimizing Hotel Operations: Systems, Revenue, and Decision Making

Business Information Systems & Strategic Management

Hotel Industry Entities & Locations

Pegasus Agencies TQ3, Spain, Barcelona, The English Court, Iberia, Mars, Weaver, Vincit. Pegasus Hotel: Ritz Madrid, Husa Bay of Vigo, Melia Las Palmas, Marriott Mallorca, City Silken Victory.

Hotel Management Systems & Services

Internet communication services and information. Savia Intelligence (1994). The DDS (Decision Support System) process involves design and selection. More extended services management systems for hotels include: Pricing, Room Status, Room Access/Utility Control, and Minibar Charge.

Applications of Revenue Management

Revenue Management is typically applied in industries where capacity is perishable and pricing is dynamic:

• The hotel industry, where all empty rooms represent lost income.
• The airline industry, in which an unoccupied seat represents a loss of large marginal revenue.
• The vehicle leasing industry, where a lack of vehicles available for rental on a given day will force customers to choose another supplier.
• The telecommunications industry, in which a client cannot make a phone call for capacity reasons, and thus the sale is lost.

Understanding Concept Maps

A concept map is a visual representation of a certain amount of information, allowing for easier understanding of complex content due to the amount of information it incorporates.

Executive Information Systems (EIS)

In computer-based systems, an Executive Information System (EIS) is especially designed to meet the information needs of senior management and eliminate the need for intermediaries between management and the computer.

Online Transaction Security Models

Models that provide security in commercial transactions online include:

• Models whose sole purpose is to ensure the transfer of commercial information from the buyer to the seller.
• Models that tend to facilitate the process of authorization of funds and settlement of transactions.
• Models that attempt to reproduce the essential features of monetary transactions in digitized form.

Triangulation in Forecasting

Triangulation involves making parallel forecasts with different methods and observing the degree of variation between them, thereby providing a sense of uncertainty.

Characteristics of Tourism Businesses in the Information Society

Key features include: Virtuality, Seasonality, Globalization, Flexibility, and Interconnection.

Identifying Discrepancies Visually

This involves visually identifying the gaps or discrepancies between the current state of a problem and the ideal situation.

Expert Systems and Their Characteristics

Expert systems, often visualized with a Radar Graph, are characterized by:

• Representing knowledge in symbolic form.
• Reasoning using rules similar to those used by humans.
• Considering multiple hypotheses simultaneously.

Factors in Decision Making

Decisions involve consideration of a series of factors:

• Observable variables
• Required information
• The characteristics of the decision itself
• Actions implemented
• The results of the decision

Human Intuition in Decision Support

Human intuition (unstructured) is a tool to support unstructured decision making.

Theories of Decision Making

Three prominent theories of decision making are: Cognitive Dissonance, Agreement or Commitment, and Anticipatory Penalty.