Umeå Economic Studies, Department of Economics, Umeå University
No 559:
The Number of Occupied Hotel Rooms: A Time Series Model that Accounts for Constrained Capacity and Prices
Kurt Brännäs ()
and Jonas Nordström ()
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.
Keywords: Binomial; autoregression; estimation; demand analysis; rationed; price effect; (follow links to similar papers)
JEL-Codes: C22; C25; C51; D21; L83; (follow links to similar papers)
14 pages, May 23, 2001
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- This paper is published as:
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Brännäs, Kurt and Jonas Nordström, (2004), 'The Number of Occupied Hotel Rooms: A Time Series Model that Accounts for Constrained Capacity and Prices', Studies in Nonlinear Dynamics and Econometrics, Vol. 8, No. 4
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