Revenue Management Glossary

Bid price

A simple method (via linear programming) for determining which rate class / length of stay combinations are open. The bid price for any arrival date and length of stay is determined by taking an average of the shadow prices for all of the dates of the stay. An incoming request should be accepted, if and only if there is available capacity and the corresponding fare is at least as much as the bid-price.

The Hospitality Show - Event Image

The Hospitality Show

October 28th – 30th, 2024

The Glamping Show - Event Image

The Glamping Show

October 1st – 2nd, 2024