Time, Price, and Advanced Booking of Hotel Rooms

Zvi Schwartz

47 citations0/0 files storedInternational Journal of Hospitality & Tourism Administration

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Supply Chain and Inventory Management Diverse Aspects of Tourism Research Consumer Market Behavior and Pricing

Abstract

The effectiveness of revenue management systems has diminished in recent years due to the systems' inability to address the increasing complication of online deal-seeking behavior. To restore their efficiency, one must first understand the changes in advanced-booking behavior and their implications. This study expands the consumer booking model by addressing the impact of time-before-the-date-of-stay and exploring the implication for the hotel's pricing/marketing strategies. The findings underscore the urgent need for empirical research on timing by showing that the predictions of the advanced-booking model, and consequently the effectiveness of RM systems, depend on the actual patterns over time.

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References

1993Consumer Behavior: Buying, Having and Being 1982Tourism: Economic, Physical and Social Impacts 2022Hospitality and Travel Marketing 1999Profiling People Searching for and Purchasing Travel Products on the World Wide Web 2003The evolution of electronic distribution: Effects on hotels and intermediaries 2003To Look or Book: An Examination of Consumers’ Apprehensiveness toward Internet Use 2005Advanced booking and revenue management: Room rates and the consumers’ strategic zones 2000Changes in Hotel Guests’ Willingness to Pay as the Date of Stay Draws Closer

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2018Booking now or later: Do online peer reviews matter?2023Application of machine learning to cluster hotel booking curves for hotel demand forecasting 2021Advance booking across channels: The effects on dynamic pricing 2020Revenue management forecasting: The resiliency of advanced booking methods given dynamic booking windows 2015Analyzing the Use of an Advance Booking Curve in Forecasting Hotel Reservations

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