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In developing the hotel booking management model, you should assume the following: Limited number of available rooms. It is anticipated that cancellations will occur due
In developing the hotel booking management model, you should assume the following: Limited number of available rooms. It is anticipated that cancellations will occur due to various reasons, including changes in travel plans or unforeseen circumstances. The hotel implements an overbooking policy wherein customers who are affected by overbooking are compensated with an amount equivalent to what they would have paid for one night's stay at the hotel. To manage overbooking effectively, there is a predefined limit on the number of reservations accepted, ensuring that the hotel does not exceed its capacity. Guests have the flexibility to arrive at any time of the day or night without prior booking. The hotel adopts a policy to accept walkin guests as long as it remains within the overbooking limit. The model pertains to one specific type of room within the hotel, simplifying the booking process and analysis. Any additional assumptions deemed necessary for the accurate representation of the hotel booking management process are left to your discretion as the model developer. Excel file Assignment 2 Decision model Template includes a sample of the decision model format for you to follow. The minimum requirements of the decision model are: 1. The ability to
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