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Predicting hotel occupancies with public data: An application of OECD indices as leading indicators
Tang, Candy Mei Fung1; King, Brian2; Pratt, Stephen2
2017-08
Source PublicationTOURISM ECONOMICS
ISSN1354-8166
Volume23Issue:5Pages:1096-1113
Abstract

This study demonstrates the value of using readily available Organisation for Economic Co-Operation and Development (OECD) indicators to estimate hotel occupancy trends in a particular territory (Hong Kong) drawing upon almost four decades of data (1972-2010). The indicators predict the economic climate at global, regional and national levels by providing comprehensive statistically based economic information. They should be of particular benefit for resource-constrained small and/or independent hotel operations for whom accurate occupancy predictions facilitate a more targeted approach to strategic investments. Using the OECD indicators offers hoteliers an alternative to acquiring expensive data and/or consultant inputs. The article shows the merit of OECD composite indicators generally and of the consumer confidence index in particular as publicly available and reliable data which can provide hoteliers with early signals about shifting demand. It contributes to tourism economics by demonstrating the merit of indices as a supplement to both established demand forecasts and as an input to hotel revenue management systems.

KeywordOecd Hotel Occupancy Revenue Management
DOI10.1177/1354816616666670
URLView the original
Indexed BySSCI ; SSCI
Language英语
WOS Research AreaBusiness & Economics ; Social Sciences - Other Topics
WOS SubjectEconomics ; Hospitality, Leisure, Sport & Tourism
WOS IDWOS:000405526200012
PublisherSAGE PUBLICATIONS LTD
The Source to ArticleWOS
Fulltext Access
Citation statistics
Cited Times [WOS]:2   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionDEPARTMENT OF INTEGRATED RESORT AND TOURISM MANAGEMENT
Affiliation1.University of Macau, China
2.Hong Kong Polytechnic University, Hong Kong
First Author AffilicationUniversity of Macau
Recommended Citation
GB/T 7714
Tang, Candy Mei Fung,King, Brian,Pratt, Stephen. Predicting hotel occupancies with public data: An application of OECD indices as leading indicators[J]. TOURISM ECONOMICS,2017,23(5):1096-1113.
APA Tang, Candy Mei Fung,King, Brian,&Pratt, Stephen.(2017).Predicting hotel occupancies with public data: An application of OECD indices as leading indicators.TOURISM ECONOMICS,23(5),1096-1113.
MLA Tang, Candy Mei Fung,et al."Predicting hotel occupancies with public data: An application of OECD indices as leading indicators".TOURISM ECONOMICS 23.5(2017):1096-1113.
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