A Study on Pricing Strategies for Business Hotels based on Agent-Based Simulation

Abstract

This study examines the effectiveness of pricing strategies in business hotels. Through theanalysis, we will attempt to identify the impact on the lease period and sales of business hotels, and how itchanges with the introduction of policy simulation. In this study, pricing strategy is considered as a policy.Through Agent-Based Simulation, we will match borrower and lender agents and analyze the results ofthe balance between supply and demand, and we will consider pricing strategy in our analysis. We will bemeasured the policy effects from individual strategies, using the framework created by previous studiesthat considered prices. A bottom-up policy evaluation will be conducted, and exploratory studies will beconducted to determine that it is an effective tool.