Next Article in Journal
Firms’ Sustainability: Does Economic Policy Uncertainty Affect Internal Control?
Next Article in Special Issue
Ownership Concentration and Performance Recovery Patterns in the European Union
Previous Article in Journal
Sustainability Implications of the Incorporation of a Biogas Trapping System into a Conventional Crude Palm Oil Supply Chain
Previous Article in Special Issue
Risk Transmission between Chinese and U.S. Agricultural Commodity Futures Markets—A CoVaR Approach
Open AccessArticle

Development of Fuzzy Time Series Model for Hotel Occupancy Forecasting

1
Department of Mathematics, Faculty of Arts and Sciences, Eastern Mediterranean University, Famagusta 99628, North Cyprus, via Mersin 10, Turkey
2
Warwick Business School, University of Warwick, Coventry CV4 7AL, UK
*
Author to whom correspondence should be addressed.
Sustainability 2019, 11(3), 793; https://doi.org/10.3390/su11030793
Received: 28 December 2018 / Revised: 19 January 2019 / Accepted: 29 January 2019 / Published: 2 February 2019
(This article belongs to the Special Issue Application of Time Series Analyses in Business)
Receiving appropriate forecast accuracy is important in many countries’ economic activities, and developing effective and precise time series model is critical issue in tourism demand forecasting. In this paper, fuzzy rule-based system model for hotel occupancy forecasting is developed by analyzing 40 months’ time series data and applying fuzzy c-means clustering algorithm. Based on the values of root mean square error and mean absolute percentage error which are metrics for measuring forecast accuracy, it is defined that the model with 7 clusters and 4 inputs is the optimal forecasting model for hotel occupancy. View Full-Text
Keywords: time series; forecasting; fuzzy c-means clustering; fuzzy rule-based system; Mamdani model time series; forecasting; fuzzy c-means clustering; fuzzy rule-based system; Mamdani model
Show Figures

Figure 1

MDPI and ACS Style

Aliyev, R.; Salehi, S.; Aliyev, R. Development of Fuzzy Time Series Model for Hotel Occupancy Forecasting. Sustainability 2019, 11, 793.

Show more citation formats Show less citations formats
Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Article Access Map by Country/Region

1
Back to TopTop