Resource price management incorporating indirect value

• US 6,993,494 B1
• Filed: 09/08/2000
• Issued: 01/31/2006
• Est. Priority Date: 06/01/1998
• Status: Expired due to Term

• Current Assignee: Caesars License Company, LLC (Caesars Entertainment, Inc.)
• Original Assignee: Harrah's Operating Company Incorporated (Caesars Entertainment, Inc.)
• Inventors: Wilmott, Timothy J., Boushy, John M.
• Primary Examiner(s): Hayes, John W.
• Assistant Examiner(s): Greene, Daniel L.
• Application Number:
  US09/658,366
• Time in Patent Office: 1,971 Days
• Field of Search: 705/400, 705/14
• US Class Current: 705/7.31
• CPC Class Codes: G06Q 20/387 Payment using discounts or coupons relating to marketing G06Q30/02
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0202 Market predictions or forecasting for commercial activities
• CPC Class Codes: G06Q 30/0204 Market segmentation
• CPC Class Codes: G06Q 30/0206 Price or cost determination based on market factors
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0247 Calculate past, present or future revenues
• CPC Class Codes: G06Q 30/0269 based on user profile or attribute
• CPC Class Codes: G06Q 30/0277 Online advertisement
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G07F 17/32 for games, toys, sports, or amusements
• CPC Class Codes: G07F 17/3223 Architectural aspects of a gaming system, e.g. internal configuration, master/slave, wireless communication
• CPC Class Codes: G07F 17/3237 about the players, e.g. profiling, responsible gaming, strategy/behavior of players, location of players
• CPC Class Codes: G07F 17/3239 Tracking of individual players

Abstract

A method and system of managing value from a resource such as hotel rooms by taking into account indirect value, such as gaming value, in determining recommended bid prices. Observed and/or estimated indirect value for customers is obtained. Recommended bid prices for instances of the resource, such as hotel rooms, are adjusted based on the obtained indirect value. Prices are further adjusted based on competitive market conditions.

Claims

1. A computer-implemented method of managing a resource, comprising:

receiving, in a computer, a request for an instance of the resource for a customer;

determining, in the computer, an indirect value potentially resulting from providing the resource instance to the customer and based on at least one characteristic of the customer, wherein the indirect value is based on a customer gaming value; and

responsive to the indirect value exceeding a threshold, offering the resource instance to the customer.

2. The method of claim 1, wherein determining an indirect value comprises determining an indirect value based on a customer segment associated with the customer.

3. A computer-implemented method of managing a resource, comprising:

receiving, in a computer, a request for an instance of the resource for a customer;

determining, in the computer, an indirect value potentially resulting from providing the resource instance to the customer and based on at least one characteristic of the customer, wherein the indirect value is based on a customer gaming value;

determining, in the computer, a price at which to offer the resource instance to the customer, the price being determined as a function of the indirect value; and

offering the resource instance to the customer at the determined price.

4. The method of claim 3, wherein determining a price at which to offer the resource instance takes into account forecasted demand and projected response to marketing activities related to at least one special event.

5. The method of claim 3, wherein the indirect value is based on a customer segment associated with the customer.

6. The method of claim 3, wherein determining a price comprises determining a price to maximize total value including direct value and indirect value.

7. The method of claim 6, wherein the resource comprises a set of hotel rooms, the direct value comprises a room rate, and the indirect value comprised gaming values.

8. The method of claim 3, wherein determining a price at which to offer the resource instance takes into account forecasted demand and projected response to marketing activities.

9. The method of claim 3, wherein the resource has a type and wherein determining a price for the resource takes into account forecasted demand for the resource type.

10. A computer-implemented method of managing a resource, comprising:

receiving, in a computer, a request for an instance of the resource for a customer;

determining, in the computer, an indirect value potentially resulting from providing the resource instance to the customer and based on at least one characteristic of the customer;

determining, in the computer, a price at which to offer the resource instance to the customer, the price being determined as a function of the indirect value, wherein the indirect value is based on a customer gaming value;

responsive to the determined price exceeding all prices in a predefined set of prices, denying the resource instance to the customer; and

responsive to the determined price not exceeding all prices in a predetermined set of prices, offering the resource instance to the customer at a minimum price in the predefined set of prices that exceeds the determine price.

11. A computer-implemented method of managing value for a property, comprising:

receiving, in a computer, a request for a room for a customer;

determining, in the computer, an indirect value potentially resulting from providing the room to the customer and based on at least one characteristic of the customer, wherein the indirect value is based on a customer gaming value; and

responsive to the indirect value exceeding a threshold, offering the room to the customer.

12. The method of claim 11, wherein determining an indirect value comprises determining an indirect value based on a customer segment associated with the customer.

13. A computer-implemented method of managing value for a property, comprising:

receiving, in a computer, a request for a room for a customer;

determining, in the computer, a potential gaming value of the customer;

determining, in the computer, a price at which to offer the room to the customer, the price being determined as a function of the estimated gaming value of the customer; and

offering the room to the customer at the determined price.

14. The method of claim 13, wherein determining a price at which to offer the room takes into account forecasted demand and projected response to marketing activities.

15. The method of claim 13, wherein determining a price at which to offer the room takes into account forecasted demand and projected response to marketing activities related to at least one special event.

16. The method of claim 13, wherein the potential gaming value is based on a customer segment associated with the customer.

17. The method of claim 13, wherein determining a price comprises determining a price to maximize total value including aggregate room value and aggregate gaming value.

18. The method of claim 13, wherein the room has a type and wherein determining a price for the room takes into account forecasted demand for the room type.

19. The method of claim 13, wherein the estimated gaming value of the customer is derived from past gaming behavior of the customer.

20. The method of claim 13, wherein the estimated gaming value of the customer is derived from demographic characteristics of the customer.

21. The method of claim 13, further comprising:

receiving, in the computer, at least one room price for at least one second property; and

adjusting, in the computer, the determined price responsive to the received room price.

22. The method of claim 13, further comprising:

receiving, in the computer, a composite price representing competing room prices; and

adjusting, in the computer, the determined price responsive to the composite price.

23. The method of claim 13, further comprising:

receiving, in the computer, a composite price representing a weighted average of competing room prices; and

adjusting, in the computer, the determined price responsive to the composite price.

24. A computer-implemented method of managing value for a property, comprising:

receiving, in a computer, a request for a room for a customer;

determining, in the computer, an estimated gaming value of the customer;

determining, in the computer, a price at which to offer the room to the customer, the price being determined as a function of the estimated gaming value of the customer;

responsive to the determined price exceeding all prices in a predefined set of prices, denying the room to the customer; and

responsive to the determined price not exceeding all prices in a predetermined set of prices, offering the room to the customer at a minimum price in the predefined set of prices that exceeds the determined price.

25. The method of claim 24, wherein determining the estimated gaming value of the customer comprises:

classifying, in the computer, the customer into one of a plurality of customer segments; and

determining, in the computer, the expected gaming value associated with the customer segment into which the customer is classified.

26. The method of claim 25, wherein classifying the customer comprises determining an applicable customer segment responsive to past gaming behavior of the customer.

27. The method of claim 25, wherein classifying the customer comprises determining an applicable customer segment responsive to demographic characteristics of the customer.

28. A computer-implemented method of managing resource, comprising:

receiving, in a computer, a request for an instance of the resource for a customer;

determining, in the computer, at least two sources of value potentially resulting from providing the resource instance to the customer, at least one of the sources of value being based on at least one characteristic of the customer, wherein at least one of the sources of value is based on a customer gaming value; and

responsive to the sum of the two sources of value exceeding a threshold, offering the resource instance to the customer.

29. The method of claim 28, wherein at least one of the sources of value is based on a customer segment associated with the customer.

30. A computer-implemented method of managing a resource, comprising:

receiving, in a computer, a request for an instance of the resource for a customer;

determining, in the computer, at least two sources of value potentially resulting from providing the resource instance to the customer, at least one of the sources of value being based on at least one characteristic of the customer;

determining, in the computer, a price at which to offer the resource instance to the customer, the price being determined as a function of the at least two sources of value, wherein at least one of the sources of value is based on a customer gaming value; and

offering the resource instance to the customer at the determined price.

31. A computer-implemented method of managing a resource comprising:

receiving a request for an instance of the resource for a customer;

determining at least two sources of value potentially resulting from providing the resource instance to the customer, at least one of the sources of value being based on at least one characteristic of the customer, wherein at least one of the sources of value is based on a customer gaming value; and

responsive to the sum of the two sources of value exceeding a threshold;

determining a price for the resource instance as a function of the sum of the at least two sources of value; and

offering the resource instance to the customer.

32. The method of claim 31, wherein the at least two sources of value comprise a direct value and an indirect value.

33. The method of claim 32, wherein the resource comprises a set of hotel rooms, the direct value comprises a room rate, and the indirect value comprises gaming value.

34. A system for managing a resource, comprising:

an input device, for receiving a request for an instance of the resource for a customer;

an optimizer module, coupled to the input device, for determining an indirect value potentially resulting from providing the resource instance to the customer and based on at least one characteristic of the customer, wherein the indirect value is based on a customer gaming value; and

an output device, coupled to the optimizer module, for, responsive to the indirect value exceeding a threshold, offering the resource instance to the customer.

35. A system for managing a resource, comprising:

an input device, for receiving request for an instance of the resource for a customer;

an optimizer module, coupled to the input device, for determining an indirect value potential resulting from providing the resource instance to the customer and based on at least one characteristic of the customer, wherein the indirect value is based on a customer gaming value;

a pricing module, coupled to the optimizer module, for determining a price for the resource instance as a function of the indirect value; and

an output device, coupled to the pricing module, for, offering the resource instance to the customer at the determined price.

36. A computer program product comprising a computer-usable medium having computer-readable code embodied therein for managing a resource, comprising:

computer-readable program code configured to cause a computer to receive a request or an instance of the resource for a customer;

computer-readable program code configured to cause a computer to determine an indirect value potentially resulting from providing the resource instance o the customer and based on at least one characteristic of the customer, wherein the indirect value is based on a customer gaming value; and

computer-readable program code configured to cause a computer to, responsive to the indirect value exceeding a threshold, offer the resource instance to the customer.

37. A computer program product comprising a computer-usable medium having computer-readable code embodied therein for managing a resource, comprising:

computer-readable program code configured to cause a computer to receive a request for an instance of the resource for a customer;

computer-readable program code configured to cause a computer to determine an indirect value potentially resulting from providing the resource instance to the customer and based on at least one characteristic of the customer; and

computer-readable program code configured to cause a computer to determine a price for the resource instance as a function of the indirect value, wherein the indirect value is based on a customer gaming value; and

computer-readable program code configured to cause a computer to offer the resource instance to the customer at the determined price.