“…Current hotel revenue management literature focuses on sophisticated issues such as optimizing standby upgrades (Yılmaz et al, 2017), pricing of conditional upgrades (Cui et al, 2018), estimating strategic customer behavior in the context of standby upgrades (Yılmaz, Ferguson, et al, 2022), predicting personalized demand with unobserved no-purchases (Cho et al, 2022), and identifying demand elasticities by leveraging the ability of observing delayed price adjustment to demand shocks (Garcia et al, 2022). However, the aforementioned challenges that budget hotels face are often ignored.…”