This paper explores how advanced reservations, coupled with dynamic pricing (based on booking limits) can be used to maximize parking revenue. An integer programing formulation that maximizes parking revenue over a system of garages is presented. Furthermore, an intelligent parking reservation model is developed that uses an artificial neural network procedure for online reservation decision-making. Finally, the paper provides some strategic and managerial implications of multi-garage revenue management systems, and discusses techniques for identifying and implementing micro-market segmentation in the parking industry.


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    Title :

    Revenue management in the parking industry: a multiple garage intelligent reservation model


    Contributors:

    Published in:

    Publication date :

    2018-04-03


    Size :

    15 pages




    Type of media :

    Article (Journal)


    Type of material :

    Electronic Resource


    Language :

    English




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