GENERATION OF OFFERS WITH LIMITED TIME FRAME GUARANTEED AVAILABILITY AND PRICING FOR TRAVEL ITINERARIES
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United States of America Patent
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N/A
Issued Date -
Jun 11, 2015
app pub date -
Dec 9, 2013
filing date -
Dec 9, 2013
priority date (Note) -
Abandoned
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Abstract
A method, apparatus and program product generate a set of guaranteed offers that are guaranteed to a traveler in terms of both availability and price for a limited period of time. The guaranteed offers may be grouped together into a set such that booking probabilities may be assigned to travel services associated with the guaranteed offers and an overbooking factor for at least one travel service may be determined based upon the assigned booking probabilities. By doing so, travelers may be provided with a guarantee of price and availability prior to booking, while inventory and/or revenue management for a travel provider may be managed in a more accurate manner that accounts for the provisional status of the guaranteed offers, and the likelihood that only one, or potentially, none of the guaranteed offers will ultimately be accepted by the traveler.
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