Analysis of hotel rates in four cities: New York City, Chicago, San Francisco, and Atlanta

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Title: Analysis of hotel rates in four cities: New York City, Chicago, San Francisco, and Atlanta
Author: Chang, Hui Ping
Abstract: Hotel rate is essential to every traveler, every hotelier, every key person in travel planning for their company, and even the tourism planner for the city. The graduate students from RIT's hotel management program had conducted serial surveys on hotel rates in 100 major cities in US from 1989-1999. This study employed the data that RIT students collected as a foundation. First, four cities were chosen in every region (East, Midwest, West and South). These four cities were New York City, Chicago, San Francisco and Atlanta. Second, other possible factors were added in to evaluation. They are national average hotel rates, foreigner visitors to US, unemployment rate, average occupancy rate and number of Fortune 500 headquarter in the city. Third, statistical analysis was applied to discover the relationship between hotel rates and those variables. This study will conclude what factor is essential to the city's hotel rates. In addition, the equations for future hotel rates perdition will be provided. Data obtained from the hotel rate chart and five other factors were analyzed using excel. Analyzing process include initial correlation analysis to eliminate the weakest factor. Following by stepwise method, this assisted the researcher to determine the most efficient equation for each city's hotel rates. The study found that cities' hotel rates were highly correlated to national average, except in Chicago. The hotel rate in Chicago had highest correlation with number of Fortune 500 headquarter in the city. Hotel occupancy rate is the weakest factor of the analysis for all four cities.
Record URI: http://hdl.handle.net/1850/15314
Date: 2003

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