a 2018

Price elasticity of demand for accommodation sector

PETŘÍČEK, Martin

Basic information

Original name

Price elasticity of demand for accommodation sector

Name (in English)

Price elasticity of demand for accommodation sector

Authors

PETŘÍČEK, Martin

Edition

SECOND INTERNATIONAL SCIENTIFIC CONFERENCE ON IT, TOURISM, ECONOMICS, MANAGEMENT AND AGRICULTURE - ITEMA 2018, 2018

Other information

Type of outcome

Konferenční abstrakt

Confidentiality degree

není předmětem státního či obchodního tajemství

Organization unit

University College Prague – University of International Relations and Institute of Hospitality Management and Economics, Ltd.

Tags

International impact, Reviewed
Změněno: 31/3/2019 13:38, doc. Ing. Martin Petříček, Ph.D.

Abstract

ORIG EN

V originále

The paper focuses on measuring the price elasticity of selected customer segments of accommodation services in Prague. To measure elasticity, the simple log linear regression analysis method was chosen. Due to the required output, a simple regression analysis was performed. The inputs are considered as sales and the number of beds sold per night. Logarithmic data transformation was performed at all inputs. Outputs are available over the last five years. Measured elasticity can then serve as input for price optimization within revenue management. It is important that price elasticity during the selected years is moreover stable, and can be therefore used for future analysis and primarily for the optimization process.

In English

The paper focuses on measuring the price elasticity of selected customer segments of accommodation services in Prague. To measure elasticity, the simple log linear regression analysis method was chosen. Due to the required output, a simple regression analysis was performed. The inputs are considered as sales and the number of beds sold per night. Logarithmic data transformation was performed at all inputs. Outputs are available over the last five years. Measured elasticity can then serve as input for price optimization within revenue management. It is important that price elasticity during the selected years is moreover stable, and can be therefore used for future analysis and primarily for the optimization process.
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