Prediction accuracy for reservation-based forecasting methods applied in Revenue Management

• Published in: International journal of hospitality management Vol. 84; p. 102332
• Main Authors: Fiori, Anna Maria, Foroni, Ilaria
• Format: Journal Article
• Language: English
• Published: Elsevier Ltd 01.01.2020
• Subjects: Hotel demand forecasting; Multiplicative model; Pickup forecasting technique; Prediction intervals; Hotel demand forecasting; Prediction intervals; Multiplicative model; Pickup forecasting technique

•Interval forecasting of hotel bookings is key to the success of Revenue Management.•We propose a stochastic framework for a class of pickup forecasting methods.•This framework leads to prediction intervals representing possible booking scenarios.•The approach is tested on real reservation data from...