Advance booking and hotel price variability online: any opportunity for business customers?

With this research we empirically observe the dynamics of prices of goods and leisure services by identifying important variations in the historical series of daily rates; the heterogeneity of such series often exceeds that observed on risk markets for antonomasia. A model to predict such a useful dynamic for travel industry operators was built.

With the model, we want to establish a link between rate’s distribution and micro, meso and macroeconomic factors to explain how these factors affect over time and to evaluate whether they act in different ways.

 

Authors: Andrea Guizzardi (Department of Statistical Sciences - University of Bologna),​ Flavio Maria Emanuele Pons (Department of Statistical Sciences - University of Bologna),​ Ercolino Ranieri (CEO - Xenia S.p.A.)