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 …
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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, …
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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, …
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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 …
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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 …
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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, …
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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 …
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Electric Thoughts
How AI is Transforming Hotel Finance: Smarter Revenue Management and Operational Efficiency
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 …
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Total Probability Theorem and Bayes’ Theorem Introduction In probability theory, the Total Probability Theorem and Bayes’ Theorem are fundamental concepts used to compute probabilities based on known conditions or prior events. …
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Marketing and Corporate Social Responsibility (CSR) are closely related concepts that, when combined, create value not only for businesses but also for society. By integrating CSR into marketing strategies, companies …