2023
DOI: 10.1108/ijchm-10-2022-1233
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Forecasting hotel room prices when entering turbulent times: a game-theoretic artificial neural network model

Abstract: Purpose This study aims to propose a risk-induced game theoretic forecasting model to predict average daily rate (ADR) under COVID-19, using an advanced recurrent neural network. Design/methodology/approach Using three data sets from upper-midscale hotels in three locations (i.e. urban, interstate and suburb), from January 1, 2018, to August 31, 2020, three long-term, short-term memory (LSTM) models were evaluated against five traditional forecasting models. Findings The models proposed in this study outpe… Show more

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Cited by 6 publications
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“…Demand modeling and forecasting is a major area of tourism and hospitality research and is often associated with the study of tourism demand or hotel demand (Wu et al , 2017). Price forecasting and modeling has recently become a pressing topic due to global issues such as disease, terrorism and conflicts, as well as advancements in artificial intelligence techniques (Binesh et al , 2024). In “Point and interval forecasting for wine prices: an approach based on artificial intelligence,” Cui et al (2024) use these new techniques to enhance the prediction of wine prices.…”
Section: The Papers Included In This Special Issuementioning
confidence: 99%
“…Demand modeling and forecasting is a major area of tourism and hospitality research and is often associated with the study of tourism demand or hotel demand (Wu et al , 2017). Price forecasting and modeling has recently become a pressing topic due to global issues such as disease, terrorism and conflicts, as well as advancements in artificial intelligence techniques (Binesh et al , 2024). In “Point and interval forecasting for wine prices: an approach based on artificial intelligence,” Cui et al (2024) use these new techniques to enhance the prediction of wine prices.…”
Section: The Papers Included In This Special Issuementioning
confidence: 99%