The week's pick
Reseach Article
Evaluating and Forecasting Room Demand in Tourist Spot using Holt-Winters Method
| International Journal of Computer Applications |
| Foundation of Computer Science (FCS), NY, USA |
| Volume 172 - Number 2 |
| Year of Publication: 2017 |
| Authors: C. Premila Rosy, R. Ponnusamy |
10.5120/ijca2017915072
|
C. Premila Rosy, R. Ponnusamy . Evaluating and Forecasting Room Demand in Tourist Spot using Holt-Winters Method. International Journal of Computer Applications. 172, 2 ( Aug 2017), 22-25. DOI=10.5120/ijca2017915072
Abstract
Economic system of any field trend to be dynamic which sometimes leads to fault promotion and worst decision and costly in financial terms. This challenge in financial terms forecasting is highly adopted in many industry. The uncertainty in economic variable is evaluated by instrumental activities in organization. In this research by Holt - Winter method is applied for hotel industry to forecast the room availability. The problem in forecast is based on arrival day room demand may vary which leads to uncertainty. Forecasting is useful widely for hotel management in terms of revenue and provides excellent decision making system for customer and demand. Forecasting method used in this research is quantitative method and does not involves management expertise. Results illustrate forecasting mechanism based on actual data collected from hotel.
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