Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/33547
Title: Initially testing an improved extrapolative hotel room occupancy rate forecasting technique
Authors: Law, R 
Keywords: Forecasting accuracy
Room occupancy rates
Time series forecasting
Issue Date: 2014
Publisher: Taylor and Francis
Source: In G Zheng (Ed.), Management science applications in tourism and hospitality, p. 816-830. Taylor & Francis, 2014 How to cite?
Abstract: The existing time series forecasting models either capture the information of the last few data in the data series or the entire data series is used for projecting future values. In other words, the time series forecasting models are unable to take advantage of the last trend in the data series, which always have a direct influence on the estimated values. This paper proposes an improved extrapolative time series forecasting technique to compute future hotel occupancy rates. The performance of this new technique was tested with officially published room occupancy rates in Hong Kong. Forecasted room occupancy rates were compared with actual room occupancy rates in several accuracy performance dimensions. Empirical results indicate that the new technique is promising with reasonably good forecasting results.
URI: http://hdl.handle.net/10397/33547
ISBN: 978-131578247-8
DOI: 10.4324/9781315782478
Appears in Collections:Book Chapter

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