Average booking curves draw exponential functions.

ABSTRACT: The booking curve time series in perishable asset industries, including hotels, has been studied to manage a demand-supply condition or revenue management (RM). However, due to changing times, e.g., economy and technology, many RM practitioners have put their efforts into catching on to peoples' booking pattern shifts, representing macroscopic changes in booking curves. We investigate macroscopic aspects of booking curves with actual sales data across six properties in the hotel and car-rental industries for two years, considering the difference in the economic environment characterized before and during the COVID-19 epidemic. We explain a new cross-industry and cross-economic-environment universal statistical law: average booking curves draw exponential functions (the ABCDEF law). We prov

SUBMITTER: Shintani M 

PROVIDER: S-EPMC10517154 | biostudies-literature | 2023 Sep

REPOSITORIES: biostudies-literature