|
Prediction Model for Average Daily Rate (ADR) of Bangkok Hotel |
|---|---|
| รหัสดีโอไอ | |
| Creator | 1. Warakorn Likitanupak 2. Kongkoon Tochaiwat 3. Jolyon L. A. Dodgson |
| Title | Prediction Model for Average Daily Rate (ADR) of Bangkok Hotel |
| Publisher | Thammasat Printing House |
| Publication Year | 2559 |
| Journal Title | International Journal of Building, Urban, Interior and Landscape Technology |
| Journal Vol. | 8 |
| Page no. | 27-38 |
| Keyword | Average Daily Rate (ADR),Bangkok hotel,Hedonic price model,Multiple regression analysis |
| ISSN | 2228-9194 |
| Abstract | The main objective of this research was to propose an Average Daily Rate (ADR)prediction model for three to five star hotels in Bangkok using the Hedonic Price Model.The variables included in the model were derived from a literature review and suggestedby an expert panel. Factor analysis was adopted to merge highly correlated variables. Thedata from 461 hotels in Bangkok were acquired from www.agoda.com. The results showedthat 11 variables affecting the ADR and the five variables that had the highest regressioncoefficients were 1) star rating, 2) score of location overview, 3) score of room comfort,4) score of staff performance and 5) fitness center availability (presence or absence). Thelog-linear model was selected as it showed the highest Adjusted R2 (Adjusted R2 = 0.843).The observed ADRs and the predicted ADRs from the proposed model were not significantlydifferent, as shown by the pair sample t-test's value of 0.153 at the 0.05 significant leveland 0.472 Theil's U statistical value. This suggests that the proposed model can be used toprovide useful information for Bangkok hotel investors or developers regarding hotel valueappraisal, or the pricing of hotel room rates. |
