The Summary Operating Statement (SOS) is a central feature of the Uniform System of Accounts for the Lodging Industry (USALI), providing a comprehensive overview of a property’s financial performance. The …

In the age of big data and artificial intelligence, statistics has emerged as a cornerstone of modern data analysis. From its historical roots in census-taking and probability theory to its …

Abstract The dynamics of markets are influenced by the interplay between supply and demand, shaping conditions into either a buyer’s market or a seller’s market. Concurrently, the evolving demographics, particularly …

The Uniform System of Accounts for the Lodging Industry (USALI) is a comprehensive set of accounting standards and guidelines specifically designed for the hospitality sector. Since its inception in 1926, …

Abstract The internationalization of national markets is a defining feature of the global economy, driven by advances in technology, trade liberalization, and multinational business strategies. This phenomenon has intensified competition, …

Introduction A random variable is a fundamental concept in probability and statistics. It provides a way to associate numerical values with outcomes of random phenomena, enabling us to analyze and …

Introduction Independence of events is a fundamental concept in probability theory that describes situations where the occurrence of one event does not influence the occurrence of another. Understanding independence is crucial …

Abstract Marketing is a cornerstone of modern business operations, serving as the bridge between organizations and their customers. It encompasses a wide range of activities and strategies aimed at identifying, …

In marketing, a transaction is a fundamental concept that involves the exchange of value between a buyer and a seller. For a transaction to occur, certain conditions or requirements must …

In recent years, Artificial Intelligence (AI) has emerged as a revolutionary force across industries, including hospitality. As the hotel industry grapples with fluctuating demand, rising costs, and an increasingly competitive …