Patterns of regional travel behavior: An analysis of Japanese hotel reservation data
AbstractThis study considers the availability of room opportunities collected from a Japanese hotel booking site. We empirically analyze the daily number of room opportunities for four areas. To determine the migration trends of travelers, we discuss a finite mixture of Poisson distributions and the EM-algorithm as its parameter estimation method. We further propose a method to infer the probability of opportunities existing for each observation. We characterize demand–supply situations by means of relationship between the averaged room prices and the probability of opportunity existing.
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Bibliographic InfoArticle provided by Elsevier in its journal International Review of Financial Analysis.
Volume (Year): 23 (2012)
Issue (Month): C ()
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Web page: http://www.elsevier.com/locate/inca/620166
Japanese hotel reservation; Mixture of Poisson distributions; EM-algorithm; Parameter estimation;
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