• Concepts and Insights
• 23 min
  1. What will consumers pay more for? Luxury markets and premium pricing

  • Dr. Ian Yeoman
• 61 min
  2. How do consumers perceive value and price: understanding value-based pricing

  • Prof. Irene Ng
• 42 min
  3. Does the consumer trust you?

  • Ms. Una McMahon-Beattie
• 29 min
  4. Search-based advertising and revenue management

  • Dr. Özgür Özlük
• 24 min
  5. Low cost worlds and the airline industry

  • Dr. Laurie Garrow
  • Ms. Stacey Mumbower
• 51 min
  6. Pricing and revenue optimization: maximizing staff effectiveness

  • Dr. Warren Lieberman
• 28 min
  7. Fencing in the practice of revenue management

  • Dr. Michael Zhang
• 42 min
  8. Revenue management and air cargo

  • Ms. Gina Morello
• 28 min
  9. Era of convergence in revenue management

  • Mr. Ramesh Venkat
• 18 min
  10. Online travel data: A goldmine of new opportunities

  • Dr. Laurie Garrow
  • Ms. Brittany Luken
• 52 min
  11. Global distribution capabilities, origin destination control and dynamic pricing

  • Dr. Karl Isler
• How Pricing and Revenue Management Works
• 40 min
  12. Practical pricing for the hotel industry

  • Dr. Warren Lieberman
• 48 min
  13. Practical pricing and the airline industry

  • Dr. Stefan Poelt
• 59 min
  14. Setting optimal rents for apartment firms

  • Dr. Jian Wang
• 25 min
  15. Practical pricing and the restaurant industry

  • Prof. Sunmee Choi
• 57 min
  16. Forecasting and control

  • Prof. Robert Raeside
• 27 min
  17. B2B price optimization analytics

  • Dr. Jon Higbie
• 45 min
  18. Practical pricing and the car park

  • Dr. José Guadix

Printable Handouts

PDF

Navigable Slide Index

1. Introduction
2. Talk outline
3. Background
4. Terminology - unit
5. Terminology - lease
6. Terminology - rent
7. Terminology - base effect rate
8. Rent setting approaches
9. Fair housing law
10. Traditional approaches for rent setting
11. Cost-based and occupancy-oriented methods
12. Competitor-responded method
13. Drawbacks to the traditional approaches
14. An alternative approach for rent setting
15. Characteristics of apartment firms
16. Comparison with hotels - similarities (1)
17. Comparison with hotels - similarities (2)
18. Comparison with hotels - differences (1)
19. Comparison with hotels - differences (2)
20. Modeling challenges
21. Apartment revenue management - outline
22. Apartment revenue management - objective
23. Methodology (1)
24. The five variables (1)
25. The five variables (2)
26. Methodology (2)
27. Mathematical model - objectives
28. Mathematical model - supply constraint
29. Mathematical model - demand constraint
30. Mathematical optimization model - summary
31. Illustration of the optimization model
32. Procedure for optimal rent setting
33. Data aggregation
34. Data dimensions and transaction data
35. Aggregated data
36. Estimation of demand and rent relationship
37. Estimate demand and rent relationship - example
38. Forecast demand
39. Issues in forecast demand
40. How to solve forecast demand issues?
41. Price elasticity factor - example
42. Forecast supply
43. Reference rents estimation - approaches (1)
44. Reference rents estimation - approaches (2)
45. Principle indicators
46. Indicator usage - example
47. Rent optimization
48. Setting optimal rents - case study
49. Case study - supply forecast
50. Case study - demand forecast
51. Case study - optimal rents
52. Case study - optimal units
53. Benefits to setting optimal rents
54. Acknowledgement

Topics Covered

• Apartment industry represents a new frontier for pricing and revenue management
• An introduction to the traditional rental settings
• Analysis in the form of comparison between hotel and apartment firms
• Step-by-step methodology of setting optimal rents
• A real case study

Links

Series:

• Practical Pricing and Revenue Management

Categories:

• Finance, Accounting & Economics

Talk Citation

Publication History

• Published on October 28, 2009