Publication
Big data hedonic pricing: Econometric insights into room rates' determinants by hotel category
| dc.contributor.author | Sanchez-Lozano, Gloria | |
| dc.contributor.author | Pereira, Luis | |
| dc.contributor.author | Chavez-Miranda, Esther | |
| dc.date.accessioned | 2021-09-08T10:57:50Z | |
| dc.date.available | 2021-09-08T10:57:50Z | |
| dc.date.issued | 2021-08 | |
| dc.description.abstract | This research uses a big dataset of online prices published on Booking.com by three-, four- and five-star hotels located in Madrid (Spain). Data is broadened by other sources, resulting in a rich set of context-, hotel- and offerbased variables. This research aims to determine the impact of these variables on the online room prices set by one representative sample, featuring the total pricing behaviour as well as per hotel categories. The variables considered, their extent and the insight per category represent a novelty and complement the literature on demand forecasting and hedonic pricing, enabling the improvement of optimisation techniques. The models, based on regression analysis with random effects, reveal a significant impact of the variables on room prices and a clearly distinct behaviour for five-star hotels. This research contributes to the scientific community and practitioners by showing the pricing dynamics behaviour of an important urban destination by star rating. | |
| dc.description.sponsorship | Vice-Rectorate for Research of the University of Seville | |
| dc.description.sponsorship | University of Sevilla | |
| dc.identifier.doi | 10.1016/j.tourman.2021.104308 | |
| dc.identifier.issn | 0261-5177 | |
| dc.identifier.uri | http://hdl.handle.net/10400.1/16951 | |
| dc.language.iso | eng | |
| dc.peerreviewed | yes | |
| dc.publisher | Elsevier | |
| dc.relation | Research Centre for Tourism, Sustainability and Well-being | |
| dc.subject | Hotel revenue management | |
| dc.subject | Hedonic pricing | |
| dc.subject | Online pricing | |
| dc.subject | Price determinants | |
| dc.subject | Pricing behaviour | |
| dc.subject | Big data | |
| dc.subject.other | Environmental Sciences & Ecology; Social Sciences - Other Topics; Business & Economics | |
| dc.title | Big data hedonic pricing: Econometric insights into room rates' determinants by hotel category | |
| dc.type | journal article | |
| dspace.entity.type | Publication | |
| oaire.awardTitle | Research Centre for Tourism, Sustainability and Well-being | |
| oaire.awardURI | info:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UIDB%2F04020%2F2020/PT | |
| oaire.citation.startPage | 104308 | |
| oaire.citation.title | Tourism Management | |
| oaire.citation.volume | 85 | |
| oaire.fundingStream | 6817 - DCRRNI ID | |
| person.familyName | Nobre Pereira | |
| person.givenName | Luis | |
| person.identifier.ciencia-id | 6114-E329-972E | |
| person.identifier.orcid | 0000-0003-0917-7163 | |
| project.funder.identifier | http://doi.org/10.13039/501100001871 | |
| project.funder.name | Fundação para a CiĂȘncia e a Tecnologia | |
| rcaap.rights | restrictedAccess | |
| rcaap.type | article | |
| relation.isAuthorOfPublication | 090a6604-b604-414b-a8d2-c4dc731b7b51 | |
| relation.isAuthorOfPublication.latestForDiscovery | 090a6604-b604-414b-a8d2-c4dc731b7b51 | |
| relation.isProjectOfPublication | fa579efb-63c0-486e-b05d-859542b73647 | |
| relation.isProjectOfPublication.latestForDiscovery | fa579efb-63c0-486e-b05d-859542b73647 |
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