A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Weekly Hotel Occupancy Forecasting of a Tourism Destination
The accurate forecasting of tourism demand is complicated by the dynamic tourism marketplace and its intricate causal relationships with economic factors. In order to enhance forecasting accuracy, we present a modified ensemble empirical mode decomposition (EEMD)⁻autoregressive integrated moving average (ARIMA) model, which dissects a time series into three intrinsic model functions (IMFs): high-frequency fluctuation, low-frequency fluctuation, and a trend; these three signals were then modeled using ARIMA methods. We used weekly hotel occupancy data from Charleston, South Carolina, USA as an empirical test case. The results showed that for medium-term forecasting (26 weeks) of hotel occupancy of a tourism destination, the modified EEMD⁻ARIMA model provides more accurate forecasting results with smaller standard deviations than the EEMD⁻ARIMA model, but further research is needed for validation.
Weekly Hotel Occupancy Forecasting of a Tourism Destination
The accurate forecasting of tourism demand is complicated by the dynamic tourism marketplace and its intricate causal relationships with economic factors. In order to enhance forecasting accuracy, we present a modified ensemble empirical mode decomposition (EEMD)⁻autoregressive integrated moving average (ARIMA) model, which dissects a time series into three intrinsic model functions (IMFs): high-frequency fluctuation, low-frequency fluctuation, and a trend; these three signals were then modeled using ARIMA methods. We used weekly hotel occupancy data from Charleston, South Carolina, USA as an empirical test case. The results showed that for medium-term forecasting (26 weeks) of hotel occupancy of a tourism destination, the modified EEMD⁻ARIMA model provides more accurate forecasting results with smaller standard deviations than the EEMD⁻ARIMA model, but further research is needed for validation.
Weekly Hotel Occupancy Forecasting of a Tourism Destination
Muzi Zhang (author) / Junyi Li (author) / Bing Pan (author) / Gaojun Zhang (author)
2018
Article (Journal)
Electronic Resource
Unknown
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