학술논문
Hotel average daily rate and room standard in game theory.
Document Type
Article
Author
Source
Subject
Language
ISSN
1303-2917
Abstract
The connection between Average Daily Rate (ADR) and hotel room standard in both suburban and resort settings during high and low seasons remains an ongoing challenge. The purpose of this study is to craft practical cues for hotel managers to lean towards specific guiding cues for their effective decision-making of room rates. A study conducted on ADRs and guest comments from suburban and resort hotels across the United States from 2018 to 2023 utilized data from Smith Travel Research and TripAdvisor. Employing a vector error correction model and incorporating game theory, the research revealed that room standards are optimized in both types of accommodations when ADRs increase in resorts and decrease in suburban areas during peak seasons. [ABSTRACT FROM AUTHOR]