Hotel Price Categories for Rural Arkansas Hotels

The hotels on the Rate Table and the Interactive Map are grouped into color coded price categories based on their average room rates.  The average rate for each hotel is calculated from the average of it's high and low room rates observed over a period of one year. 

Since Lake Village, AR is a small town in rural Arkansas, it's rate classification is based on 141 hotels in rural Arkansas that are oustide the metropolitan areas.  The latest rate analysis for rural Arkansas hotels was performed on April 28, 2008.  The current classification breaks based on this analysis are as follows:

See Hotel Rate Analysis and Classification Details below for a detailed explanation of the classification price breaks.

Automated Rate Analysis for Lake Village, Arkansas Hotels

Hotel Rate Table for Lake Village, Arkansas

The table below shows only one hotel for Lake Village, Arkansas, but other nearby hotels may be found by using the interactive map.

The hotel record is color coded according to the Hotel Price Categories described above.  The "Low Dif" column shows the difference between the current low rate and the average low rate.  The "High Dif" column shows the difference between the current high rate and the average high rate.  Enter dates in the "Reservation Dates" form above and click "Update Rates" for the most current rates.  Click on the hotel name to see all available room rates and make reservations. 

Click the help link below for more information on the rate table update & analysis procedures. 

Open Help Window:  Rate Table Help

Interactive Rate Table for Lake Village, Arkansas Hotels                Averages calculated:  April 28, 2008        Rates captured:  12:00 AM on 8/29/08 Click Hotel Names for Info Pages          Click Avg Rates for Graphs           Click Table Headers to Sort Name Avg Rate Low Rate Avg Low Low Dif High Rate Avg High High Dif Ramada Limited 72 70 69 1 75 74 1

Hotel Rate Analysis and Classification Details

The April 28, 2008 rate analysis for Lake Village, Arkansas hotels is based on the average room rates of 141 hotels in rural Arkansas oustide the metropolitan areas.  The average rate for each hotel is calculated from the average of it's high and low room rates observed over a period of one year.  The rates range between the following values:

Lowest Average Room Rate:  $42 - Relax Inn Ashdown
Highest Average Room Rate:  $153 - Basin Park Hotel

The graph on the right shows the typical shape of a rate distribution for a wide range of room rates.  The colored areas depict the price breaks used to classify the hotels.  Rates greater than two standard deviations above the mean for all values are considered high end outliners and are removed from the price break calculations.

For the April 28, 2008 analysis, the resulting mean room rate for rural Arkansas hotels is $78 and the standard deviation is $22.

Hotels with average rates greater than one standard deviation above the mean are categorized as deluxe.  One standard deviation above the mean is $100, so Lake Village hotels with an average rate higher than $100 are classified as deluxe hotels ( magenta ) on the map.

Hotels with average rates falling in the lower half of the range below the mean are categorized as budget.  The rate halfway between the low rate and the mean rate is $60, so Lake Village hotels with an average rate lower than $60 are classified as budget hotels (green ) on the map.

Everything in between is categorized as moderate priced hotels, so Lake Village hotels with average room rates greater the $60 and less that $100 are classified as moderate priced hotels ( cyan ) on the map.