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The Number of Occupied Hotel Rooms: A Time Series Model that Accounts for Constrained Capacity and Prices

Author

Listed:
  • Brännäs, Kurt

    (Department of Economics, Umeå University)

  • Nordström, Jonas

    (Department of Economics, Umeå University)

Abstract

The 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.

Suggested Citation

  • Brännäs, Kurt & Nordström, Jonas, 2001. "The Number of Occupied Hotel Rooms: A Time Series Model that Accounts for Constrained Capacity and Prices," Umeå Economic Studies 559, Umeå University, Department of Economics.
    • Handle: RePEc:hhs:umnees:0559
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    More about this item

    Keywords

    Binomial; autoregression; estimation; demand analysis; rationed; price effect;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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