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A test of space-time arma modelling and forecasting of hotel data

✍ Scribed by Phillip E. Pfeifer; Samuel E. Bodily

Publisher: John Wiley and Sons
Year: 1990
Tongue: English
Weight: 987 KB
Volume: 9
Category: Article
ISSN: 0277-6693
DOI: 10.1002/for.3980090305

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✦ Synopsis

This paper describes the application of space-time ARMA modelling to demand-related data from eight hotels from a single hotel chain in a large US city. Important spatial characteristics of the space-time process are incorporated into the model using a simple weighting matrix based on driving distances between the hotels. Using a hold-out sample, the forecasting performance of this space-time approach was found to be superior to eight separate univariate ARMA models.

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