D
Dynamic Pricing for Hotel Revenue Management
This is a Machine Learning model that predicts the best price for a hotel room booking which satisfies both the hotel management as well as the customer by performing price optimization techniques.
D
Dynamic Pricing for Hotel Revenue Management
This is a Machine Learning model that predicts the best price for a hotel room booking which satisfies both the hotel management as well as the customer by performing price optimization techniques.
The problem Dynamic Pricing for Hotel Revenue Management solves
Dynamic Pricing is designed to increase profits by adjusting prices in response to changes in supply chain management. People can use our machine learning model to get an optimized price listing for a particular hotel room they are looking to book. Moreover, both the hotel management and the customers get satisfied with the dynamic pricing system as the price set by the model is decent enough to give a good profit to the hotel administration and parallelly not making the customer feel that the price was overcharged.
Challenges we ran into
Finding the best data to fit our problem we are trying to solve was the major show stopper for us.
Technologies used
Discussion