Forecasting resort hotel tourism demand using deep learning techniques – A systematic literature review

Abstract

In the hospitality industry, revenue management is vital for the sustainability of the business. Powering this strategic concept is the occupancy rate (OR) forecast. Predicting occupancy of the hotel is essential for managers’ decision-making process as it gives an estimate of the future business performance. However, the fast-changing marketing demands in the tourism sector, boosted by the advent of online booking, generating accurate forecast figures is nowadays a tough task - needing personnel with advance technical skills and expensive software. The aim of the Systematic Literature review is to provide an insight of the use of Deep Learning techniques for OR prediction. The latest trends in this field over five years (from 2017 to 2022) are highlighted. Through this SRL, three research questions are answered. The questions are related to the variables, deep learning algorithms for prediction and the evaluation metrics used for evaluating the models developed. The Snowballing methodology was used to carry out the SLR. 50 papers were selected for the final analysis. Five categories of variables were identified. LSTM was found to be the most popular deep learning algorithm used to build prediction models. Seven performance metrics were found and among them MAPE was the most popular. To conclude it was found that the hybrid model, CNN-LSTM, to increase accuracy and required more investigation.