Table 1. Estimated I 1 (S, D), the... | Emerald Publishing

Table 1.

Estimated I₁ (S, D), the year-on-year difference of estimated hotel prices during the events’ week

Day week	Beer and Cider Festival			Octoberfest
	2*	3*	4*	2*	3*	4*
Wednesday	4.44^a −0.33	5.17^a −0.87	12.97^a −0.31	6.27^a −0.52	−0.87 −0.85	8.30^a −0.69
Thursday	5.46^a −0.36	−7.65^a −0.79	−19.22^a −0.57	8.39^a −0.5	0.36 –0.88	3.00^a −0.72
Friday	26.52^a −0.59	45.69^a −0.79	50.01^a −0.63	4.14^a −0.52	4.05^a −0.84	2.53^a −0.64
Saturday	18.26^a −1.76	38.31^a −0.86	47.99^a −0.6	−5.05^a −0.78	−8.62^a −0.7	4.83^a −0.59
Sunday	1.59^a −0.36	0.83 –0.8	2.44^a −0.72	0.01 –0.5	−1.84^b −0.92	−2.90^a −0.81
R²	0.96			0.95
No. of obs.	3,123			14,524
No. of hotels	2	5	7	2	5	7
Room capacity	155	710	750	155	710	750

Day week	Beer and Cider Festival			Octoberfest
	2*	3*	4*	2*	3*	4*
Wednesday	4.44^a−0.33	5.17^a−0.87	12.97^a−0.31	6.27^a−0.52	−0.87−0.85	8.30^a−0.69
Thursday	5.46^a−0.36	−7.65^a−0.79	−19.22^a−0.57	8.39^a−0.5	0.36–0.88	3.00^a−0.72
Friday	26.52^a−0.59	45.69^a−0.79	50.01^a−0.63	4.14^a−0.52	4.05^a−0.84	2.53^a−0.64
Saturday	18.26^a−1.76	38.31^a−0.86	47.99^a−0.6	−5.05^a−0.78	−8.62^a−0.7	4.83^a−0.59
Sunday	1.59^a−0.36	0.83–0.8	2.44^a−0.72	0.01–0.5	−1.84^b−0.92	−2.90^a−0.81
R²	0.96			0.95
No. of obs.	3,123			14,524
No. of hotels	2	5	7	2	5	7
Room capacity	155	710	750	155	710	750