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A demand-driven analysis of tourist accommodation price: A quantile regression of room bookings
Institution:1. School of Hotel and Tourism Management, The Hong Kong Polytechnic University, Hong Kong;2. Department of Marketing, Faculty of Economics, University of Alicante, Spain;1. University of Bologna, Department of Statistics, via delle Belle Arti 41, 40126, Bologna, Italy;2. Xenia S.p.A., Via A. Gramsci 79, 66016, Guardiagrele, Italy;1. Bournemouth University, Department of Tourism and Hospitality, Fern Barrow, Poole, BH12 5BB Bournemouth, UK;2. IULM University, Department of Economics and Marketing, Carlo Bo 1, 20143 Milan, Italy;3. Eada Business School, Department of Marketing, Aragó 204, 08011 Barcelona, Spain;1. Department of Economics (Ca’ Foscari University of Venice), Italy;2. Department of Applied Economics (University of the Balearic Islands), Spain;1. CIMEDES Research Center, Department of Economics and Business, University of Almeria, Carretera de Sacramento, s/n, 04120 Almeria, Spain;2. CIMEDES Research Center, Department of Mathematics, University of Almeria, Carretera de Sacramento, s/n, 04120 Almeria, Spain
Abstract:Tourist accommodation expenditure is a widely investigated topic as it represents a major contribution to the total tourist expenditure. The identification of the determinant factors is commonly based on supply-driven applications while little research has been made on important travel characteristics. This paper proposes a demand-driven analysis of tourist accommodation price by focusing on data generated from room bookings. The investigation focuses on modeling the relationship between key travel characteristics and the price paid to book the accommodation. To accommodate the distributional characteristics of the expenditure variable, the analysis is based on the estimation of a quantile regression model. The findings support the econometric approach used and enable the elaboration of relevant managerial implications.
Keywords:Hotel booking  Accommodation expenditure  Quantile regression
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