| รหัสดีโอไอ | 10.14456/ssa.2016.15 |
|---|---|
| Creator | Warakorn Likitanupak and Kongkoon Tochaiwat |
| Title | The Prediction Model for Average Daily Rate (ADR) For a Sample ofThree-Star Hotels in Bangkok |
| Publisher | National Research Council of Thailand |
| Publication Year | 2016 |
| Journal Title | Social Science Asia |
| Journal Vol. | 2 |
| Journal No. | 2 (April) |
| Page no. | 55-68 |
| ISSN | 2229-2608 |
| Abstract | The main objective of this research was to propose an Average Daily Rate (ADR) predictionmodel for three-star hotels in Bangkok using Hedonic Price Model. The variables in themodel were derived from literature review and suggested by an expert panel. Factor Analysiswas adopted to merge the highly correlated variables. The data from two hundred and twentythree hotels in Bangkok were collected, after removing outlier data. The results showed thatthere are eight variables affecting ADR and the five variables that have the highest regressioncoefficients were: 1) score of location overview, 2) swimming pool availability (has or hasnot), 3) score of room comfort, 4) score of staff performance and 5) hotel located in CBD(yes or no). After testing for the best fit model, the log-linear model was selected because ofits highest Adjusted R2 (AdjustedR2 = 0.548). The verification of the model was conductedby pair sample t-tests method. The results showed that the observed ADRs and the predictedADRs from the proposed model were not significantly different, as shown from the p-valueof 0.306 at 0.05 significance level. Furthermore, Theil's U statistic was 0.516. This showedthat the proposed model can be used in order to provide useful information for investors ordevelopers regarding hotel value appraisal, or pricing hotel's room rates. Finally, it should benoted that the ADR of three-star hotels used in this research were between 700 and 4,983Baht/room/night with average ADR of 1,445 Baht/room/nigh and the room areas werebetween 15 and 97 square meters with average area of 30 square meters. |
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