Cargando…
Average booking curves draw exponential functions
The booking curve time series in perishable asset industries, including hotels, has been studied to manage a demand-supply condition or revenue management (RM). However, due to changing times, e.g., economy and technology, many RM practitioners have put their efforts into catching on to peoples’ boo...
Autores principales: | , |
---|---|
Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
Nature Publishing Group UK
2023
|
Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10517154/ https://www.ncbi.nlm.nih.gov/pubmed/37737293 http://dx.doi.org/10.1038/s41598-023-42745-3 |
_version_ | 1785109267267715072 |
---|---|
author | Shintani, Masaru Umeno, Ken |
author_facet | Shintani, Masaru Umeno, Ken |
author_sort | Shintani, Masaru |
collection | PubMed |
description | The booking curve time series in perishable asset industries, including hotels, has been studied to manage a demand-supply condition or revenue management (RM). However, due to changing times, e.g., economy and technology, many RM practitioners have put their efforts into catching on to peoples’ booking pattern shifts, representing macroscopic changes in booking curves. We investigate macroscopic aspects of booking curves with actual sales data across six properties in the hotel and car-rental industries for two years, considering the difference in the economic environment characterized before and during the COVID-19 epidemic. We explain a new cross-industry and cross-economic-environment universal statistical law: average booking curves draw exponential functions (the ABCDEF law). We provide a basis for the ABCDEF law from three perspectives; data validation, modeling in the statistical physics framework, and empirical justification for the causality of the model. The ABCDEF law derives informative statistics to quantitatively measure peoples’ buying behavior even in time or society changes, which is expected to contribute to management in various industries. |
format | Online Article Text |
id | pubmed-10517154 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2023 |
publisher | Nature Publishing Group UK |
record_format | MEDLINE/PubMed |
spelling | pubmed-105171542023-09-24 Average booking curves draw exponential functions Shintani, Masaru Umeno, Ken Sci Rep Article The booking curve time series in perishable asset industries, including hotels, has been studied to manage a demand-supply condition or revenue management (RM). However, due to changing times, e.g., economy and technology, many RM practitioners have put their efforts into catching on to peoples’ booking pattern shifts, representing macroscopic changes in booking curves. We investigate macroscopic aspects of booking curves with actual sales data across six properties in the hotel and car-rental industries for two years, considering the difference in the economic environment characterized before and during the COVID-19 epidemic. We explain a new cross-industry and cross-economic-environment universal statistical law: average booking curves draw exponential functions (the ABCDEF law). We provide a basis for the ABCDEF law from three perspectives; data validation, modeling in the statistical physics framework, and empirical justification for the causality of the model. The ABCDEF law derives informative statistics to quantitatively measure peoples’ buying behavior even in time or society changes, which is expected to contribute to management in various industries. Nature Publishing Group UK 2023-09-22 /pmc/articles/PMC10517154/ /pubmed/37737293 http://dx.doi.org/10.1038/s41598-023-42745-3 Text en © The Author(s) 2023 https://creativecommons.org/licenses/by/4.0/Open Access This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/ (https://creativecommons.org/licenses/by/4.0/) . |
spellingShingle | Article Shintani, Masaru Umeno, Ken Average booking curves draw exponential functions |
title | Average booking curves draw exponential functions |
title_full | Average booking curves draw exponential functions |
title_fullStr | Average booking curves draw exponential functions |
title_full_unstemmed | Average booking curves draw exponential functions |
title_short | Average booking curves draw exponential functions |
title_sort | average booking curves draw exponential functions |
topic | Article |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10517154/ https://www.ncbi.nlm.nih.gov/pubmed/37737293 http://dx.doi.org/10.1038/s41598-023-42745-3 |
work_keys_str_mv | AT shintanimasaru averagebookingcurvesdrawexponentialfunctions AT umenoken averagebookingcurvesdrawexponentialfunctions |