...Fatemeh Binesh; Amanda Mapel Belarmino; Jean-Pierre van der Rest; Ashok K. Singh; Carola Raab Purpose This study aims to propose a risk-induced game theoretic forecasting model to predict average daily rate (ADR) under COVID-19, using an advanced recurrent neural network. Design/methodology...

.... Design/methodology/approach The empirical forecasting is conducted by introducing a segmented machine learning approach of leveraging hierarchical clustering tied to machine learning and deep learning techniques. These features allow the model to yield more precise estimates. This study evaluates...

... and implications for consumers, the economy, and society. To date, no scientific research is available that develops scenarios about the future of accommodation sharing. Forecasting Delphi Scenario Airbnb Accommodation sharing The sharing economy (SE) has attracted much attention over recent years...

...Zvi Schwartz; Muzaffer Uysal; Timothy Webb; Mehmet Altin Purpose – This paper aims to improve the accuracy of hotel daily occupancy forecasts – an essential element in the revenue management cycle – by proposing and testing a novel approach. The authors add the hotel competitive-set’s predicted...

...Oscar Claveria; Enric Monte; Salvador Torra Purpose – This study aims to apply a new forecasting approach to improve predictions in the hospitality industry. To do so, the authors developed a multivariate setting that allows the incorporation of the cross-correlations in the evolution of tourist...

...Andrea Ellero; Paola Pellegrini Purpose – The aim of this paper is to assess the performance of different widely-adopted models to forecast Italian hotel occupancy. In particular, the paper tests the different models for forecasting the demand in hotels located in urban areas, which typically...

... function. This study adopts the alternative approach of using a model with a demand function that has been shown to be a superior causal forecasting model in some markets, and develops a new method to optimize the total profit. Findings The traditional method of applying calculus to the profit function...

... treats the shortcomings in existing systems. In particular, it extends existing optimization techniques for hotel revenue management to address group reservations and uses “forecasted demand” arrivals generated from the real data. Design/methodology/approach The proposed forecasting module attempts...

...Emmett Steed; Zheng Gu Purpose The purpose of this study is to investigate and document current US hotel management company practices in budgeting and forecasting, and to recommend a process to improve accuracy and efficiency. Design/methodology/approach Key corporate financial executives...

...David Cranage One of the most basic pieces of information useful to hospitality operations is gross sales, and the ability to forecast them is strategically important. These forecasts could provide powerful information to cut costs, increase efficient use of resources, and improve the ability...

..., no previous attempt has been made to incorporate neural networks into hotel occupancy rate forecasting. This paper reports on a study about applying neural networks to the forecasting of room occupancy rates. The significance of this approach was tested with actual data from the Hong Kong hotel industry...

... market in 1988 to a position where it was the country’s sixth largest market in 1994. Forecasts undertaken by the Australian Tourism Commission[ 1 ] indicate that, by the year 2000, Taiwan will be Australia’s fifth largest source market, a position that it is projected to retain until the year 2004...

...A. Athiyaman; R.W. Robertson Planning, both “operational” and“strategic”, relies on accurate forecasting. Planning in tourism is no less dependent on accurate forecasts. However, tourism demand forecasting has been dominated by the application of regression/econometric techniques. Past studies...

...Michael D. Olsen An overview of the trends occurring within the hospitality industry environment and their impact on organisational strategy, structure and performance is presented. © MCB UP Limited 1989 Organizational performance Hotel and catering Forecasting Organizational...