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Content available
Book part
Publication date: 10 June 2021

Abstract

Details

Operations Management in the Hospitality Industry
Type: Book
ISBN: 978-1-83867-541-7

Open Access
Article
Publication date: 21 August 2023

Michele Bufalo and Giuseppe Orlando

This study aims to predict overnight stays in Italy at tourist accommodation facilities through a nonlinear, single factor, stochastic model called CIR#. The contribution of this…

Abstract

Purpose

This study aims to predict overnight stays in Italy at tourist accommodation facilities through a nonlinear, single factor, stochastic model called CIR#. The contribution of this study is twofold: in terms of forecast accuracy and in terms of parsimony (both from the perspective of the data and the complexity of the modeling), especially when a regular pattern in the time series is disrupted. This study shows that the CIR# not only performs better than the considered baseline models but also has a much lower error than other additional models or approaches reported in the literature.

Design/methodology/approach

Typically, tourism demand tends to follow regular trends, such as low and high seasons on a quarterly/monthly level and weekends and holidays on a daily level. The data set consists of nights spent in Italy at tourist accommodation establishments as collected on a monthly basis by Eurostat before and during the COVID-19 pandemic breaking regular patterns.

Findings

Traditional tourism demand forecasting models may face challenges when massive amounts of search intensity indices are adopted as tourism demand indicators. In addition, given the importance of accurate forecasts, many studies have proposed novel hybrid models or used various combinations of methods. Thus, although there are clear benefits in adopting more complex approaches, the risk is that of dealing with unwieldy models. To demonstrate how this approach can be fruitfully extended to tourism, the accuracy of the CIR# is tested by using standard metrics such as root mean squared errors, mean absolute errors, mean absolute percentage error or average relative mean squared error.

Research limitations/implications

The CIR# model is notably simpler than other models found in literature and does not rely on black box techniques such as those used in neural network (NN) or data science-based models. The carried analysis suggests that the CIR# model outperforms other reference predictions in terms of statistical significance of the error.

Practical implications

The proposed model stands out for being a viable option to the Holt–Winters (HW) model, particularly when dealing with irregular data.

Social implications

The proposed model has demonstrated superiority even when compared to other models in the literature, and it can be especially useful for tourism stakeholders when making decisions in the presence of disruptions in data patterns.

Originality/value

The novelty lies in the fact that the proposed model is a valid alternative to the HW, especially when the data are not regular. In addition, compared to many existing models in the literature, the CIR# model is notably simpler and more transparent, avoiding the “black box” nature of NN and data science-based models.

设计/方法/方法

一般来说, 旅游需求往往遵循规律的趋势, 例如季度/月的淡季和旺季, 以及日常的周末和假期。该数据集包括欧盟统计局在打破常规模式的2019冠状病毒病大流行之前和期间每月收集的在意大利旅游住宿设施度过的夜晚。

目的

本研究旨在通过一个名为cir#的非线性单因素随机模型来预测意大利游客住宿设施的过夜住宿情况。这项研究的贡献是双重的:在预测准确性方面和在简洁方面(从数据和建模复杂性的角度来看), 特别是当时间序列中的规则模式被打乱时。我们表明, cir#不仅比考虑的基线模型表现更好, 而且比文献中报告的其他模型或方法具有更低的误差。

研究结果

当大量搜索强度指标被作为旅游需求指标时, 传统的旅游需求预测模型将面临挑战。此外, 鉴于准确预测的重要性, 许多研究提出了新的混合模型或使用各种方法的组合。因此, 尽管采用更复杂的方法有明显的好处, 但风险在于处理难使用的模型。为了证明这种方法能有效地扩展到旅游业, 使用RMSE、MAE、MAPE或AvgReIMSE等标准指标来测试cir#的准确性。

研究局限/启示

cir#模型明显比文献中发现的其他模型简单, 并且不依赖于黑盒技术, 例如在神经网络或基于数据科学的模型中使用的技术。所进行的分析表明, cir#模型在误差的统计显著性方面优于其他参考预测。

实际意义

这个模型作为Holt-Winters模型的一个拟议模型, 特别是在处理不规则数据时。

社会影响

即使与文献中的其他模型相比, 所提出的模型也显示出优越性, 并且在数据模式中断时对旅游利益相关者做出决策特别有用。

创意/价值

创新之处在于所提出的模型是Holt-Winters模型的有效替代方案, 特别是当数据不规律时。此外, 与文献中的许多现有模型相比, cir#模型明显更简单、更透明, 避免了神经网络和基于数据科学的模型的“黑箱”性质。

Diseño/metodología/enfoque

Normalmente, la demanda turística tiende a seguir tendencias regulares, como temporadas altas y bajas a nivel trimestral/mensual y fines de semana y festivos a nivel diario. El conjunto de datos consiste en las pernoctaciones en Italia en establecimientos de alojamiento turístico recogidas mensualmente por Eurostat antes y durante la pandemia de COVID-19, rompiendo los patrones regulares.

Objetivo

El presente estudio pretende predecir las pernoctaciones en Italia en establecimientos de alojamiento turístico mediante un modelo estocástico no lineal de un solo factor denominado CIR#. La contribución de este estudio es doble: en términos de precisión de la predicción y en términos de parsimonia (tanto desde la perspectiva de los datos como de la complejidad de la modelización), especialmente cuando un patrón regular en la serie temporal se ve interrumpido. Demostramos que el CIR# no sólo aplica mejor que los modelos de referencia considerados, sino que también tiene un error mucho menor que otros modelos o enfoques adicionales de los que se informa en la literatura.

Resultados

Los modelos tradicionales de previsión de la demanda turística pueden enfrentarse a desafíos cuando se adoptan cantidades masivas de índices de intensidad de búsqueda como indicadores de la demanda turística. Además, dada la importancia de unas previsiones precisas, muchos estudios han propuesto modelos híbridos novedosos o han utilizado diversas combinaciones de métodos. Así pues, aunque la adopción de enfoques más complejos presenta ventajas evidentes, el riesgo es el de enfrentarse a modelos poco manejables. Para demostrar cómo este enfoque puede extenderse de forma fructífera al turismo, se comprueba la precisión del CIR# utilizando métricas estándar como RMSE, MAE, MAPE o AvgReIMSE.

Limitaciones/implicaciones de la investigación

El modelo CIR# es notablemente más sencillo que otros modelos encontrados en la literatura y no se basa en técnicas de caja negra como las utilizadas en los modelos basados en redes neuronales o en la ciencia de datos. El análisis realizado sugiere que el modelo CIR# supera a otras predicciones de referencia en términos de significación estadística del error.

Implicaciones prácticas

El modelo propuesto destaca por ser una opción viable al modelo Holt-Winters, sobre todo cuando se trata de datos irregulares.

Implicaciones sociales

El modelo propuesto ha demostrado su superioridad incluso cuando se compara con otros modelos de la bibliografía, y puede ser especialmente útil para los agentes del sector turístico a la hora de tomar decisiones cuando se producen alteraciones en los patrones de datos.

Originalidad/valor

La novedad radica en que el modelo propuesto es una alternativa válida al Holt-Winters especialmente cuando los datos no son regulares. Además, en comparación con muchos modelos existentes en la literatura, el modelo CIR# es notablemente más sencillo y transparente, evitando la naturaleza de “caja negra” de los modelos basados en redes neuronales y en ciencia de datos.

Content available
Article
Publication date: 17 July 2019

Ahmet Selcuk Basarici and Tanzer Satir

The purpose of this study is to reveal the magnitude of empty container movements (ECM) arising from cargo seasonality by means of long-term datasets of Turkish terminals. Trade…

Abstract

Purpose

The purpose of this study is to reveal the magnitude of empty container movements (ECM) arising from cargo seasonality by means of long-term datasets of Turkish terminals. Trade imbalance is one of the well-known major reasons of ECM. Cargo seasonality apart from some other operational drivers and market effect, i.e. commercial decisions of the ship operators, is the major operational driver in Turkish terminals effecting ECM. Furthermore, this study highlights the significance of market effect, leading to take measures for more effective empty container operations in terms of decision makers leading the ship operators.

Design/methodology/approach

Time series analysis of full container datasets was performed through X-13ARIMA-SEATS methodology, implementing seasonal adjustment.

Findings

The results indicate that 17 of 112 time series in hand, based on a terminal/hinterland, container type and “in and out” foreign trade, exhibit cargo seasonality. Roughly, the amount of ECM originating from cargo seasonality in Turkish terminals represents 10 per cent of total ECM except trade imbalance in those terminals where seasonality is present. This reveals that ECM arising from market effect should not be underestimated.

Research limitations/implications

Reefer container traffic could not be sorted from the datasets.

Originality/value

This paper focuses on one of the major reasons of ECM, cargo seasonality. It brings a novel point of view and interpretations which were not suggested previously about ECM, motivating to overcome inefficiency in container operations.

Details

Maritime Business Review, vol. 4 no. 3
Type: Research Article
ISSN: 2397-3757

Keywords

Open Access
Article
Publication date: 24 October 2018

Melchior Vella

This paper aims to test the hypothesis that the effect of production slowdown on labour demand can be muted by labour hoarding.

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Abstract

Purpose

This paper aims to test the hypothesis that the effect of production slowdown on labour demand can be muted by labour hoarding.

Design/methodology/approach

This study adopts a production function approach, using data from Malta, a small state in the EU.

Findings

The results confirm the hypothesis and indicate that firms are normally prepared to employ and dismiss more workers in the long run than in the short run.

Practical implications

This finding has important implications for developed countries, including that labour hoarding can be of certain relevance in times of economic slowdown as shocks are absorbed by internal flexibility.

Originality/value

The results of this study add on to the existing literature in two ways. First, this study compares two industries –manufacturing and financial services– for which the former sector received support to hoard labour after the financial turmoil of 2008. Consequently, the dominance of labour hoarding in manufacturing relative to financial services is uncovered and the effect of hoarding practices on labour demand is estimated. Second, Malta is an interesting case because it is one of the smallest economies in the world and faces a high degree of vulnerability because of constraints associated with small size and insularity. As a result, firms adopt policy-induced measures to minimise adjustment costs.

Details

Journal of Economics, Finance and Administrative Science, vol. 23 no. 46
Type: Research Article
ISSN: 2077-1886

Keywords

Content available
Book part
Publication date: 6 September 2019

Abstract

Details

Advances in Business and Management Forecasting
Type: Book
ISBN: 978-1-78754-290-7

Content available
Book part
Publication date: 23 October 2017

Abstract

Details

Economic Imbalances and Institutional Changes to the Euro and the European Union
Type: Book
ISBN: 978-1-78714-510-8

Open Access
Article
Publication date: 11 November 2022

Sara Zanni, Matteo Mura, Mariolina Longo, Gabriella Motta and Davide Caiulo

This study aims to provide a comprehensive framework for the study of indoor air quality (IAQ) in hospitality premises. The goal is to identify the drivers of air pollution, both…

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Abstract

Purpose

This study aims to provide a comprehensive framework for the study of indoor air quality (IAQ) in hospitality premises. The goal is to identify the drivers of air pollution, both at the exogenous and endogenous level, to generate insights for facility managers.

Design/methodology/approach

The complexity of hospitality premises requires an integrated approach to properly investigate IAQ. The authors develop an overarching framework encompassing a monitoring method, based on real-time sensors, a technological standard and a set of statistical analyses for the assessment of both IAQ performance and drivers, based on correlation analyses, analysis of variance and multivariate regressions.

Findings

The findings suggest that the main drivers of IAQ differ depending on the area monitored: areas in contact with the outdoors or with high ventilation rates, such as halls, are affected by outdoor air quality more than guestrooms or fitness areas, where human activities are the main sources of contamination.

Research limitations/implications

The results suggest that the integration of IAQ indicators into control dashboards would support management decisions, both in defining protocols to support resilience of the sector in a postpandemic world and in directing investments on the premises. This would also address guests’ pressing demands for a broader approach to cleanliness and safety and support their satisfaction and intention to return.

Originality/value

To the best of the authors’ knowledge, this is the first study developing a comprehensive framework to systematically address IAQ and its drivers, based on a standard and real-time monitoring. The framework has been applied across the longest period of monitoring for a hospitality premise thus far and over an entire hotel facility.

Details

International Journal of Contemporary Hospitality Management, vol. 35 no. 2
Type: Research Article
ISSN: 0959-6119

Keywords

Open Access
Article
Publication date: 8 June 2015

Elisabeth Ilie-Zudor, Anikó Ekárt, Zsolt Kemeny, Christopher Buckingham, Philip Welch and Laszlo Monostori

– The purpose of this paper is to examine challenges and potential of big data in heterogeneous business networks and relate these to an implemented logistics solution.

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Abstract

Purpose

The purpose of this paper is to examine challenges and potential of big data in heterogeneous business networks and relate these to an implemented logistics solution.

Design/methodology/approach

The paper establishes an overview of challenges and opportunities of current significance in the area of big data, specifically in the context of transparency and processes in heterogeneous enterprise networks. Within this context, the paper presents how existing components and purpose-driven research were combined for a solution implemented in a nationwide network for less-than-truckload consignments.

Findings

Aside from providing an extended overview of today’s big data situation, the findings have shown that technical means and methods available today can comprise a feasible process transparency solution in a large heterogeneous network where legacy practices, reporting lags and incomplete data exist, yet processes are sensitive to inadequate policy changes.

Practical implications

The means introduced in the paper were found to be of utility value in improving process efficiency, transparency and planning in logistics networks. The particular system design choices in the presented solution allow an incremental introduction or evolution of resource handling practices, incorporating existing fragmentary, unstructured or tacit knowledge of experienced personnel into the theoretically founded overall concept.

Originality/value

The paper extends previous high-level view on the potential of big data, and presents new applied research and development results in a logistics application.

Details

Supply Chain Management: An International Journal, vol. 20 no. 4
Type: Research Article
ISSN: 1359-8546

Keywords

Open Access
Article
Publication date: 10 December 2020

Gopi Battineni, Nalini Chintalapudi and Francesco Amenta

As of July 30, 2020, more than 17 million novel coronavirus disease 2019 (COVID-19) cases were registered including 671,500 deaths. Yet, there is no immediate medicine or…

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Abstract

Purpose

As of July 30, 2020, more than 17 million novel coronavirus disease 2019 (COVID-19) cases were registered including 671,500 deaths. Yet, there is no immediate medicine or vaccination for control this dangerous pandemic and researchers are trying to implement mathematical or time series epidemic models to predict the disease severity with national wide data.

Design/methodology/approach

In this study, the authors considered COVID-19 daily infection data four most COVID-19 affected nations (such as the USA, Brazil, India and Russia) to conduct 60-day forecasting of total infections. To do that, the authors adopted a machine learning (ML) model called Fb-Prophet and the results confirmed that the total number of confirmed cases in four countries till the end of July were collected and projections were made by employing Prophet logistic growth model.

Findings

Results highlighted that by late September, the estimated outbreak can reach 7.56, 4.65, 3.01 and 1.22 million cases in the USA, Brazil, India and Russia, respectively. The authors found some underestimation and overestimation of daily cases, and the linear model of actual vs predicted cases found a p-value (<2.2e-16) lower than the R2 value of 0.995.

Originality/value

In this paper, the authors adopted the Fb-Prophet ML model because it can predict the epidemic trend and derive an epidemic curve.

Details

Applied Computing and Informatics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2634-1964

Keywords

Open Access
Article
Publication date: 11 March 2022

Edmund Baffoe-Twum, Eric Asa and Bright Awuku

Background: The annual average daily traffic (AADT) data from road segments are critical for roadway projects, especially with the decision-making processes about operations…

Abstract

Background: The annual average daily traffic (AADT) data from road segments are critical for roadway projects, especially with the decision-making processes about operations, travel demand, safety-performance evaluation, and maintenance. Regular updates help to determine traffic patterns for decision-making. Unfortunately, the luxury of having permanent recorders on all road segments, especially low-volume roads, is virtually impossible. Consequently, insufficient AADT information is acquired for planning and new developments. A growing number of statistical, mathematical, and machine-learning algorithms have helped estimate AADT data values accurately, to some extent, at both sampled and unsampled locations on low-volume roadways. In some cases, roads with no representative AADT data are resolved with information from roadways with similar traffic patterns.

Methods: This study adopted an integrative approach with a combined systematic literature review (SLR) and meta-analysis (MA) to identify and to evaluate the performance, the sources of error, and possible advantages and disadvantages of the techniques utilized most for estimating AADT data. As a result, an SLR of various peer-reviewed articles and reports was completed to answer four research questions.

Results: The study showed that the most frequent techniques utilized to estimate AADT data on low-volume roadways were regression, artificial neural-network techniques, travel-demand models, the traditional factor approach, and spatial interpolation techniques. These AADT data-estimating methods' performance was subjected to meta-analysis. Three studies were completed: R squared, root means square error, and mean absolute percentage error. The meta-analysis results indicated a mixed summary effect: 1. all studies were equal; 2. all studies were not comparable. However, the integrated qualitative and quantitative approach indicated that spatial-interpolation (Kriging) methods outperformed the others.

Conclusions: Spatial-interpolation methods may be selected over others to generate accurate AADT data by practitioners at all levels for decision making. Besides, the resulting cross-validation statistics give statistics like the other methods' performance measures.

Details

Emerald Open Research, vol. 1 no. 5
Type: Research Article
ISSN: 2631-3952

Keywords

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