Model of the hospitality industry development based on the cost approach

Oksana Pirogova,Vilena Zasenko,V Breskich,S Uvarova

doi:10.1051/e3sconf/202124410035

Oksana Pirogova, Vilena Zasenko + Show 2 more

Open Access

https://doi.org/10.1051/e3sconf/202124410035

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Abstract

Apartments have become a new trend in the market over the past few years. This type of real estate is becoming more and more popular every year, both among investors and tourists. The purpose of the article is to make a forecast of prices for apartments in St. Petersburg. Research methods: description, comparison, analogy, generalization and analysis. In the course of the study, the dynamics of changes in prices per square meter of apartments in St. Petersburg for 2014-2019 is considered; the main factors influencing the price index of apartments in St. Petersburg are identified. The influence of the identified factors on the price indicator is analysed on the basis of multiple linear regression. The study showed that almost all factors have a fairly strong relationship with the resulting indicator. The most significant factors are identified, on the basis of which the final model of the cost of apartments is built. On the basis of the exponential smoothing method, an assessment of changes in factors in the forecast period was made and a forecast of apartment prices was made based on the obtained values. The study shows that apartment prices will rise in the coming period. The forecast of the cost of service apartments developed by the authors can have a positive effect when conducting real estate transactions in St. Petersburg.

Highlights

Over the past few years, the hotel business sector in Russia has undergone significant changes
In Russia, the modern hotel business is represented by the following main types of premises: 1) Hotel complexes;
If the form of the equation of the regression model was not determined by the analyst by selecting the appropriate smoothing, but on the basis of the hypothesis about the possible nature of the process to be simulated, such a model can have significant predictive ability [17]. The application of these methods, taking into account the theory of cycles and other patterns of development of the real estate market, allows you to get fairly close results, which gives confidence in the correctness of the assumptions made about the future development of the market [18]

Summary

Introduction

Over the past few years, the hotel business sector in Russia has undergone significant changes. Improved the quality of service, interior decoration, more attention was paid to the qualifications of the staff [1]. The construction of new hotel complexes with developed infrastructure, equipped territory and convenient transportation, is one of the most important features of the modern hotel business in Russia at the moment. There is a tendency to ensure accessibility of services for guests with a low level of income [2]. There are a huge number of places to stay during various trips or travels [3].

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