The Number of Occupied Hotel Rooms: A Time Series Model that Accounts for Constrained Capacity and Prices
AbstractThe daily number of occupied hotel rooms in three large Swedish cities is modelled by an integer-valued and binomial autoregression. The model includes the capacity constraint and price variables are incorporated through the parameters of the model. The model implies a duration of hotel visit and an occupancy probability. We find that a 10 percent increase in the price level shortens the median duration of a hotel visit by approximately 6 percent during weekends and 8 percent during weekdays.
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Bibliographic InfoPaper provided by Umeå University, Department of Economics in its series Umeå Economic Studies with number 559.
Length: 14 pages
Date of creation: 23 May 2001
Date of revision:
Publication status: Published in Studies in Nonlinear Dynamics and Econometrics, 2004.
Contact details of provider:
Postal: Department of Economics, Umeå University, S-901 87 Umeå, Sweden
Phone: 090 - 786 61 42
Fax: 090 - 77 23 02
Web page: http://www.econ.umu.se/
More information through EDIRC
Binomial; autoregression; estimation; demand analysis; rationed; price effect;
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