Multiple Hotel Segments Demand Forecasting

Hospitality industry is growing, with more and more people spending their money for vacation and leisure activities. People may only lodge into a hotel when it’s a holiday season or a special event, thus the demand for staying room is not equally distributed accross the year. To maximize the revenue gained by the hotel, the management often employed a pricing strategy, one of them being raising the room rate when the demand is high and making a promo when the demand is low. Thus, the ability to…