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Weekend vs. Medium Stay Tourism

Author

Listed:
  • Petru Balogh
  • Pompiliu Golea

Abstract

Estimated profit is extremely important for any business. Tourism companies can be focused on weekend or medium stay tourism. This paper aims to highlight advantages and disadvantages of each. The study aims also to highlight the usefulness of the Monte Carlo method for estimating profit and the probability of obtaining it. The paper presents a simplified example to estimate profit. It makes an analysis on a single hotel unit, once considered for weekend tourism, then considered for medium stay tourism. In both cases, the profit will be associated with the probability of achieving it.

Suggested Citation

  • Petru Balogh & Pompiliu Golea, 2015. "Weekend vs. Medium Stay Tourism," Knowledge Horizons - Economics, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 7(3), pages 28-32, September.
    • Handle: RePEc:khe:journl:v:7:y:2015:i:3:p:28-32
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    More about this item

    Keywords

    Profit; Monte Carlo; weekend stays; medium stays; tourism;
    All these keywords.

    JEL classification:

    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General

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