The INFORMS Revenue Management and Pricing Section Practice Award
2011 1st-Prize Winner:
Wyndham Exchange & Rentals
Metrics & Algorithms Team
The RM&P Section Practice Award recognizes outstanding applications of revenue management and pricing techniques. The 1st-prize winner and finalists were selected based on their impact, originality, and technical merit.
The 2011 Prize has been presented to Wyndham Exchange & Rentals for their project "Optimizing Vacation Exchange." According to Robert Shumsky, Chair of the judging committee, “The team from Wyndham has created an innovative solution to a difficult problem: how to enable its 3.8 million members to trade time at their vacation properties. Their solution was simple and transparent to their members and was backed up by a sophisticated optimization model to dynamically calculate the value of each property in the exchange. The new system improved customer satisfaction increased transactions and revenue for Wyndham, and led to a sea change in the industry."
The Wyndham Metrics & Algorithms team members are Srinidhi Melkote (Director of Analytics), Dasong Cao (Senior Research Scientist), Preeti Modgil (Analytical Systems Architect), Arjun Madhavan (Manager of Analytics), Sneha Thakkar (Senior Research Scientist), and Ryan Connelly (Lead Analyst).
The prize was awarded on June 24, 2011, during the INFORMS Revenue Management and Pricing Section summer conference at Columbia University. Wyndham’s entry was one of three outstanding finalists for the prize. The other finalists were:
- Google, Inc. DoubleClick Ad Exchange: Auction Design in Practice, by Yishay Mansour, Muthu Muthukrishnan, and Noam Nisan;
- Walt Disney Parks & Resorts, Golf Course Revenue Management, by Lila Rasekh, Yihua Li, and Mehmet Gulsen.
The members of the Practice Prize judging committee were Brenda Barnes (Brenda A. Barnes, LLC), Darius Walczak (PROS), Loren Williams (Predictix), and Peiling Wu (General Motors). The committee was chaired by Robert Shumsky (Tuck School at Dartmouth).