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Algarve hotel price determinants: a hedonic pricing model
Orientador(es)
Resumo(s)
This study sought to assess customers' willingness to pay for a wide variety of characteristics and attributes of hotels in Portugal's Algarve region. After collecting nearly all the information available on TripAdvisor for hotels in this region, a hedonic pricing model was developed using a database of 9992 cases. The results suggest that - after standardisation - the most important variable shaping Algarve hotel room rates is the previous day's prices. When associated with a family-friendly hotel, star category and services have a greater value than beaches or golf courses do. Customers also appreciate some types of hotels, such as boutique, quaint or trendy hotels, but view others negatively, such as family-friendly or business hotels. Only the specific location of Falesia Beach adds value, although the Algarve is a desirable destination overall. Both destination and hotel managers can use the proposed method to analyse data for their region on customers' propensity to pay.
Descrição
Palavras-chave
Room rates Attributes Market Tourism Impact Differentiation Performance Destination Strategies
Contexto Educativo
Citação
Editora
Elsevier Sci Ltd