I am working on a hotel booking dataset. I have transactional level booking data, where each row corresponds to a booking. Please refer to below snippet of the data:
I am trying to find out the impact of Lead Time(Checkin Date - Booking Date) on ADR(Average Daily Rate). I am planning to build a Regression model considering Lead Time as a categorical variable by dividing Lead Time into categories(for e.g 60-40 days, 40-20 days..) and including dummy variables for each category.
I wanted to know:
- If there could be a better way to model this problem-as all the independent variables are categorical and dependent variable is continuous. I am not so sure about running a regression on this data model. Additionally, would considering lead time as a continuous variable would be wrong?
- How can I visualize this data as I don't have the display prices but the actual booking prices, which could be subjected to various factors such as coupons, discount, individual's country etc.
- Finally, I would like to know if there are any resources(Books, Papers, Case Studies) I can refer to, to build my understanding on online hotel booking analytics
Thanks in advance for your help!