Hotel Booking Cancelation Prediction using ML algorithms

Cancellations in bookings show a negative impact in the hospitality industry field while making management decisions. To prevent the negative impact of the cancellations, a lot of policies are implemented along with few overbooking techniques, this, in turn, can severely damage the income and reputation of that particular hotel. To prevent this situation, machine learning models have been developed. These models use previous data from the hotel and then it gets trained and predicts if the particular booking would get cancelled or not. Two hotels namely Resort hotel and City hotel have been considered, and then ML models are used to predict how particular actions taken by the hotel management shows impact on the hotel revenue and cancellations. This, in turn, makes management rethink about policies and their decisions. The Ml models will help management to predict the number of cancellations that may happen.