The Early Booking Effect and Other Determinants of Hotel Room Prices in Europe

Author

Bezzubtseva, Anastasia ; Ignatov, Dmitry I.

Author_Institution

Higher Sch. of Econ., Nat. Res. Univ., Moscow, Russia

fYear

2013

fDate

7-10 Dec. 2013

Firstpage

426

Lastpage

432

Abstract

This paper presents a preliminary analysis of hotel room prices in several European cities based on the data from Booking.com website. The main question raised in the study is whether early booking is advantageous indeed, and if so, how early should it be? First a script was developed to download more than 600 thousand hotel offers for reservations from 25 March 2013 to 17 March 2014. Then an attempt to discover more details concerning the early booking effect was made via basic statistics, graphical data representation and hedonic pricing analysis. It was revealed that making reservations in advance can be really gainful, although more data and research are needed to measure the exact numbers, as they depend on at least seasonality and city.

Keywords

Web sites; data structures; hotel industry; European cities; booking effect; graphical data representation; hedonic pricing analysis; hotel room prices; Availability; Cities and towns; Conferences; Data mining; Educational institutions; Loading; Standards; price analysis; regression models;

fLanguage

English

Publisher

ieee

Conference_Titel

Data Mining Workshops (ICDMW), 2013 IEEE 13th International Conference on

Conference_Location

Dallas, TX

Print_ISBN

978-1-4799-3143-9

Type

conf

DOI

10.1109/ICDMW.2013.32

Filename

6753952