News Source: www.gsb.stanford.edu
A Forecasting Model for Hotel Occupancy Rates
News Source/Courtesy: www.gsb.stanford.edu

Courtesy: James R. Freeland | News Source: gsb.standford.edu

Although in 1973 the average nationwide occupancy rate for hotels and motels was 61%, this rate fluctuates widely based on the time of year and the specific hotel or motel. The purpose of this paper is to present a short range forecasting procedure for occupancy rates which

(1) is simple to use;

(2) does not require significant computer time or storage; (3) adapts to changes, and (4) is easy to maintain and update.

The model developed is an extension of Winter's three factor model to handle two different kinds of seasonality. The proposed model is tested using both hypothetical and actual data. A discussion of how the model output could be used in setting room rates for convention and tourist groups is also presented.

Fill the numbers here
If not readable, please refresh.
Refresh

News Source: www.gsb.stanford.edu

You Might Also Like

Fill the numbers here
If not readable, please refresh.
Refresh

-: Disclaimer :-


This article has been aggregated from www.gsb.stanford.edu and they maybe/are the copyright owners of the same. If you are the Author/Copyright owner of this article and want us to remove the same then send an email to admin@hoteliers.news so that we can delete it immediately. We sincerely regret and apologies for any inconvenience caused to you due to the same. Though it is your decision but please take note that the link to your website and the article have been given above, within and on the bottom of the article.

Hoteliers In Limelight

Voting Poll