Detailed Information on Publication Record
2018
Price elasticity of demand for accommodation sector
PETŘÍČEK, MartinBasic 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.
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.