Do implicit prices show differences in tourists’ valuation on hotel attributes in different time periods and different markets? A case of Beijing

Authors: Shang, T., Shang, K., Liu, P., Sun, X. and Li, X.

Journal: International Journal of Culture, Tourism, and Hospitality Research

Volume: 15

Issue: 1

Pages: 109-122

ISSN: 1750-6182

DOI: 10.1108/IJCTHR-11-2019-0218

Abstract:

Purpose: The purpose of this paper is to analyze the implicit prices of hotel attributes in different time periods and different markets. Design/methodology/approach: With data from the travel meta-search engine, this paper chose 3- to 5-star hotels in Beijing’s central business district and use hedonic price models. Findings: The results suggest that the attributes with significant implicit prices differ in different time periods; the same attributes with different implicit prices in different time periods; the same attributes with different implicit prices in different market segments. Originality/value: This study may help to explain the different findings on the relationship between the attributes and room rates of Chinese star-rated hotels in different time periods, and will be useful in both revenue optimization efforts and the design of new hotels projects.

Source: Scopus