Modeling of Variations in Price for Standard Rooms in Polish Hotels
Lysenko O. V.

Lysenko, Olena V. (2023) “Modeling of Variations in Price for Standard Rooms in Polish Hotels.” The Problems of Economy 1:198–204.
https://doi.org/10.32983/2222-0712-2023-1-198-204

Section: Mathematical methods and models in economy

UDC 330.4:519.8:519.7:007

Abstract:
The world market of hotel services is constantly changing, has a dynamic structure, develops in interaction with other markets of goods and services, is influenced by the market environment. Therefore, modern hotels have to adapt to a new type of tourists with rather high requirements for accommodation conditions. In Europe, there is a tendency to stay in 1* and 2* hotels. The study covers data from such Polish cities as Wroclaw, Poznan, Gdansk. And they are the spatial series, on the basis of which regression mathematical models are built for evaluating the trends of changes in the level of prices for the corresponding hotel rooms. The series are spatial because the data are collected at a specific moment in time, but from different objects located geographically at different points. The built models are not representative, but they provide an opportunity to assess the trends of price growth or decline and the possibility of entering into crisis economic manifestations. The work is devoted to the analysis of trends in hotel room price changes and the evaluation of these changes using the construction of regression economic-mathematical models of space and time series. The relevance and significance of the study lies in the analysis and assessment of price trends for standard hotel rooms in the popular segment of 1* and 2* hotels in Poland. This country is Ukraine's closest neighbor, therefore the study of economic trends in the development of its hotel industry is relevant not only for trends in Europe, but also for the future of the hotel segment of our country. The trends in the development of the hotel industry in Europe and in Poland in particular are analyzed. Extensive statistical material has been collected, which is up-to-date, because the figures are taken from booking sites as of November 2022. Most often, the analysis of economic trends in the development of the hotel industry is based on expert assessments or statistical data from travel agencies. The conducted analysis is based on approaches to mathematical modeling and the use of mathematical and statistical tools of the Microsoft Excel software. The conducted analysis showed the presence of a mathematically defined tendency towards a moderate increase in prices for «STANDARD» hotel rooms. The price function for these hotel rooms is increasing and crosses the growth limit which is the corresponding exponential function built on the base of the same spatial number series.

Keywords: space-time series, exponential function, coefficient of determination, trend, mathematical model.

Fig.: 3. Tabl.: 1. Formulae: 1. Bibl.: 28.

Lysenko Olena V. – Candidate of Sciences (Economics), Associate Professor, Department of Tourism and Hotel and Restaurant Business, Dnipro Humanities University (35 Yermolovoi Str., Dnipro, 49033, Ukraine)
Email: Lysienko.Elena@gmail.com

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