HomeExperimental StatisticsVisualization of hotel prices

Visualization of hotel prices

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Further Information

This graph summarises part of the work carried out with the daily prices of hotel establishments (hotels and guesthouses) scraped from the internet. For the capture of data we relied on different web-scraping methods and as we became more familiar with the structure of the website the quality of the data also improved. The studied universe is incomplete given that not all accommodation offers the option of online booking, accommodation coverage currently stands at approximately 75%. The scraped data were merged with the Eustat Survey on Tourist Establishments in order to obtain additional information from the hotels and guesthouses directory. Among the preparatory work that was carried out was the detection of atypical values, the imputation of missing data, spatial analysis and finally the heat maps of the hotel prices.

The spatial autocorrelation of the hotel prices, in which the price is analysed, was studied. If it is relatively high (low), and the surrounding prices are as well, we would then have a positive autocorrelation (high). However, if at a certain location we have a relatively high (low) value and it is surrounded by low (high) values, we can assert that there is a negative (low) autocorrelation. Spatial dependency, in which the variables adopt similar or different values in nearby locations, is analysed via the spatial autocorrelation indices.

The hotel prices are influenced not only by their location but also by their category. Three different analyses were thus followed to neutralise the impact of the category.

In the first option, the hotel prices were converted to numbers between 0 and 100 (normalisation) according to the prices of their categories (the value of 100 to the maximum price of a category and the rest proportionally within the category). In the second, the spatial autocorrelation analysis was conducted independently by category and, finally, the pricing trend of each hotel was analysed.

The Geary and Lebart indices were used for the spatial autocorrelation analysis. The graph also represents the information relating to the hotels with heat maps of the actual prices and with the pricing trends.

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