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Patterns of regional travel behavior: An analysis of Japanese hotel reservation data

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  • Sato, Aki-Hiro

Abstract

This study considers the availability of room opportunities collected from a Japanese hotel booking site. We empirically analyze the daily number of room opportunities for four areas. To determine the migration trends of travelers, we discuss a finite mixture of Poisson distributions and the EM-algorithm as its parameter estimation method. We further propose a method to infer the probability of opportunities existing for each observation. We characterize demand–supply situations by means of relationship between the averaged room prices and the probability of opportunity existing.

Suggested Citation

  • Sato, Aki-Hiro, 2012. "Patterns of regional travel behavior: An analysis of Japanese hotel reservation data," International Review of Financial Analysis, Elsevier, vol. 23(C), pages 55-65.
    • Handle: RePEc:eee:finana:v:23:y:2012:i:c:p:55-65
    DOI: 10.1016/j.irfa.2011.06.016
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    References listed on IDEAS

    as
    1. Liu, Z. & Almhana, J. & Choulakian, V. & McGorman, R., 2006. "Online EM algorithm for mixture with application to internet traffic modeling," Computational Statistics & Data Analysis, Elsevier, vol. 50(4), pages 1052-1071, February.
    2. Alfarano, Simone & Lux, Thomas, 2007. "A Noise Trader Model As A Generator Of Apparent Financial Power Laws And Long Memory," Macroeconomic Dynamics, Cambridge University Press, vol. 11(S1), pages 80-101, November.
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    More about this item

    Keywords

    Japanese hotel reservation; Mixture of Poisson distributions; EM-algorithm; Parameter estimation;
    All these keywords.

    JEL classification:

    • C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General
    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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