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

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Author Info
Brännäs, Kurt () (Department of Economics, Umeå University)
Nordström, Jonas () (Department of Economics, Umeå University)

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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.

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Publisher Info
Paper provided by Umeå University, Department of Economics in its series Umeå Economic Studies with number 559.

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Length: 14 pages
Date of creation: 23 May 2001
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Publication status: Published in Studies in Nonlinear Dynamics and Econometrics, 2004.
Handle: RePEc:hhs:umnees:0559

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Postal: Department of Economics, Umeå University, S-901 87 Umeå, Sweden
Phone: 090 - 786 61 42
Fax: 090 - 77 23 02
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Web page: http://www.econ.umu.se/
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Related research
Keywords: Binomial autoregression estimation demand analysis rationed price effect

Find related papers by JEL classification:
C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models
C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models
C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
D21 - Microeconomics - - Production and Organizations - - - Firm Behavior
L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Recreation; Tourism

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This page was last updated on 2008-7-23.

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