Kurt Brännäs () and Jonas Nordström ()
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Kurt Brännäs: Department of Economics, Umeå University, Postal: S 901 87 Umeå, Sweden
Jonas Nordström: Department of Economics, Umeå University, Postal: S 901 87 Umeå, Sweden
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
JEL-codes: C22; C25; C51; D21; L83
14 pages, May 23, 2001
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