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|Title:||Profit maximization in hotel planning|
|Authors:||Mathur, Krishan |
|Citation:||Mathur, Krishan,McGeorge, W.D. (1989). Profit maximization in hotel planning. AACE International. Transactions of the Annual Meeting : M.5.1-M.5.6. ScholarBank@NUS Repository.|
|Abstract:||This paper suggests the use of operations research (OK) techniques such as linear programming (LP) as a useful adjunct to the conventional approach of profit maximization. LP allows a decision maker to consider a complex set of conditions in a systematic and structured manner. A given set of constraints, variables and objective function will always produce a result which is the product of the user's assumptions and not the product of the linear programming technique. As far as decision making is concerned, LP is a means of organising thought, not avoiding it. Given the complexity of decisions confronting the hotel planner, LP should prove to be a useful tool.|
|Source Title:||AACE International. Transactions of the Annual Meeting|
|Appears in Collections:||Staff Publications|
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