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1.
The reference price, used by consumers to evaluate market prices, has tremendous relevance in dynamic pricing. Reconciling current heterogeneous theories and studies on reference prices, this paper analyzes the impact of hotel price sequences on consumers’ reference prices through a lab and a field experiment. Experiment 1 tests the importance of retrospective price evaluations, while Experiment 2 evaluates the impact of three forms of competition: (i) simultaneous behavior, where firms adjust prices simultaneously; (ii) leader–follower behavior, where one firm acts as the leader; and (iii) independent behavior, where each player takes its rival's strategy as given and seeks to maximize its own profits. The results show that consumers decrease their reference price when competing hotels adjust their prices simultaneously. Relevant managerial implications are drawn for the hospitality industry, which is affected by the presence of online travel agencies that announce the daily rates offered by each competitor. 相似文献
2.
This study examined the relationship between the price positioning of Airbnb listings, measured in price difference between a hotel property and the nearby Airbnb listings as well as price dispersion among these Airbnb listings, and the performance of nearby hotels. An exploratory analysis using field data points collected from the Airbnb listings and their hotel counterparts in the metropolitan area of Austin, Texas between Quarter 3, 2008 (debut of Airbnb in Austin) and Quarter 2, 2011 reveals intriguing findings. The entry of Airbnb listings was penetrative to local hotels. However, the price positioning of Airbnb, manifested in higher average price as compared to nearby hotels, as well as larger price dispersion among individual listings, significantly mitigated such penetration. Important theoretical contributions and practical implications for hotels are discussed. 相似文献
3.
The object of this paper was to investigate the long-term influences of demand uncertainty and market concentration on price instability in the hotel industry. We applied 1996–2008 price and room revenue data collected by Taiwan's Tourism Bureau to test the following two hypotheses: (1) demand uncertainty is negatively associated with price instability in the hotel industry; (2) the market concentration is negatively associated with hotel price instability. We constructed a two-stage price instability model and the estimate results produced the following two findings: First, the uncertainty in room demand significantly contributed to the price instability. Second, the effects of market structure on price instability were heterogeneous across different levels of price instability distribution. Notably, when the distribution of price instability moved from lower to higher quantiles, the relationship between market concentration and price instability altered from positive to negative. 相似文献
4.
Although Importance Performance Analysis (IPA) is a popularly used method in many research areas, academics mainly criticise it because of its relative structure and lack of consideration of competitors. In the present study, the author proposes an extended version of IPA, which is called Importance Performance Competitor Analysis (IPCA), to address these shortcomings. The proposed method considers the GAP score, which is obtained by the comparison of an attribute’s importance and the focal company’s performance in the same attribute. Moreover, it uses focal and competing companies’ performance differences score. IPCA offers different strategies for each attribute depending on the quadrant that it is positioned in. Absolute structure and consideration of competitors are the advantages of IPCA. Another characteristic of the IPCA is its simplicity, like IPA, there is no necessity to have advanced level statistical knowledge. 相似文献
5.
Chun-Fang Chiang Wen-Yu Chen Chia-Yuan Hsu 《Journal of Travel & Tourism Marketing》2019,36(7):796-807
ABSTRACTTechnological facilities and services have become attractive features in hotel selection. However, limited research has been conducted on how technological innovation attributes are perceived by hotel tourists. This paper aims to highlight and categorize the technological innovation attributes of hotels based on the Kano model. Empirical testing shows four technological innovation factors: Internet and app usage, smartphone usage as a room key and for payment, E-housekeeping, and the use of electronic self-service systems. Findings provide practical implications for hotel operators planning to introduce technologies into their hotels. 相似文献
6.
Using a hedonic model, we estimate the willingness to pay for different hotel characteristics for a small market environment. We uniquely collected a data set from a meta-booking engine including their detailed customer review ratings compiled from numerous individual hotel search engines. We argue that meta-search engines are well suited to gather prices to be used in hedonic models. In our estimation, we distinguish hedonic models for single room stays during the week potentially relevant for business travellers and double room stays during the weekend intended for leisure. Important determinants of hotel room prices are popularity ratings (derived from customer reviews), the hotel star rating, weeks of advance booking, and certain hotel characteristics such as express checkout, room service, or Internet access. A number of important characteristics such as wellness offers or wireless Internet in the rooms are insignificant pointing to the conclusion that these may be regarded as standard attributes and do not fetch additional economic value in terms of higher consumer willingness to pay. 相似文献
7.
Sian Lincoln 《Leisure Studies》2013,32(4):399-414
Abstract This investigation examines the psychometric properties of a modified involvement scale (MIS) using recreationists sampled at a national forest in upstate South Carolina and consumers enquiring about angling opportunities in the Low Country of South Carolina. Following the testing of several model configurations, support for a conceptualization of enduring involvement was observed consisting of five correlated facets: attraction, centrality, social bonding, identity expression and identity affirmation. This conceptualization was an extension of McIntyre’s measure. Notable departures from McIntyre’s conceptualization include the extraction of a social component previously embedded in the centrality facet and greater distinction in the leisure identification processes. This led to the construction of two identification facets. Testing using multiple criteria of validity and reliability illustrated that the MIS was a sound indicator of enduring leisure involvement. 相似文献
8.
At some hotel properties individual catering sales managers are empowered with the authority to make price adjustments, but at other properties they must ascertain the permission before adjusting prices. This research collected and analyzed data from 392 hotels in 28 countries and found that national culture has an influence on the price empowerment decision. Specifically, catering sales managers are more likely to be granted pricing authority in: (1) individualistic societies than in collective societies; (2) low power distance cultures than in high power distance cultures; and (3) low uncertainty avoidance societies than in high uncertainty avoidance societies. 相似文献
9.
Online ratings provide valuable information to operators. However, the use of this information for revenue maximization purposes remains at a moot point. This article proposes a new method to decompose ratings based on their relevance to hotel performance. From a methodological standpoint, we propose a multi-criteria decision analysis approach. The empirical validation includes two independent data sources, online ratings from Booking.com and RevPAR data from STR. By means of pairwise comparisons in PROMETHEE, the findings reveal the different weights of individual ratings, helping operators to understand the weight of each rating attribute in terms of revenue maximization. In particular, apart from the importance of the location, the role of staff and facilities emerge as central in terms of revenue maximization. The proposed model offers new theoretical insights on the relevant dimensions, helping hoteliers to prioritize when making trade-off decisions. 相似文献
10.
The main objectives of this study are to identify the generic facets of hospitality for hotel services irrespective of their star rating, as well as to determine the impact of generic dimensionality on guest satisfaction. The responses of 305 local and foreign hotel guests in a questionnaire survey were analysed using a Structural Equation Modelling technique. The generic facets of hotel hospitality were identified as personalisation, comfort, and warm welcoming. Of the three, only personalisation and warm welcoming contributed significantly to predicting guest satisfaction. This study is aimed at adding to the body of related literature by sharing new insights on how the generic dimensionality of hospitality in its entirety differs from that of upscale hotel hospitality. 相似文献
11.
Using a stated choice experiment, this study uncovers how hotel review- and price-related attributes affect consumers’ formation of consideration sets and hotel bookings based on online search results alongside a two-stage model of consideration and choice. Empirical findings indicate that consumers’ evaluations of certain attributes vary across these stages. During the consideration stage, the listed hotel price, promotional discount, overall rating, review volume, and booking popularity are significant attributes for prospective guests, whereas price disparities across websites are not. Insignificant interaction effects among these determinants imply that in this stage, consumers employ fast-frugal heuristics and a noncompensatory strategy. During the booking stage, listed price, promotional discount, overall rating, and review volume inform consumers’ booking decisions. Furthermore, the interaction effects point to consumers’ adoption of a compensatory strategy in making a final booking decision. Finally, this study concludes with implications for hotel pricing and system optimization of online platforms. 相似文献
12.
《Journal of Travel & Tourism Marketing》2013,30(1):17-33
Abstract Given the intensified competition to attract today's increasingly discerning hotel guests, it is vital for hotel managers to understand the set or bundle of hotel attributes which are demanded by the potential traveler. Unfortunately, marketing research in hotels is still mainly confined to the analysis of guest-related data collected during registration or from guest comment cards. These data, however, have little merit as predictors of customer behaviour and cannot answer the “what if” questions. In recent and past research in hospitality and tourism, researchers have demonstrated the use of product attributes in predicting consumer preferences and segmenting markets (Bell and Morey 1997; Kim 1996). In undertaking this approach to behavioral study, many researchers in the field have been attracted to use conjoint attribute part-worths, (the judgmentally quantified attribute valuesderived from conjoint modeling. This study attempts to utilize the compositional self-explication model as a reference model to assess the comparative superiority of the conjoint model in predicting client preferences among travelers to Hong Kong. It also seeks to reveal subgroup preference variations by using two segmentation approaches. The overall finding indicated that the most important hotel attribute sought by all respondents is Room Rate, followed by Star Rating, Location, Brand and Room Type. In terms of market segments, the results revealed similar preference profiles among leisure, short-haul and infrequent travelers as one group and business, long-haul and frequent travelers as another. 相似文献
13.
In view of the increased interest in cruise vacations and limited study on cruises, the purpose of this study was to shed light on an understanding of cruise vacationers’ evaluations of onboard experiences with cruise lines in North America and their loyalty-formation process. The empirical results revealed that interactional quality and outcome quality were significantly and positively associated with novelty and perceived value which in turn, affected satisfaction and loyalty. In addition, perceived price was a significant and negative predictor of perceived value. The moderating function of price sensitivity showed that novelty was more effective in inducing satisfaction in the low price sensitivity group and it was more effective in enhancing perceived value in the high price sensitivity group. Overall, these results help cruise line operators who observe that cruise vacationers have become more demanding on service quality, price, and value. Practical and theoretical contributions are discussed. 相似文献
14.
The MNC resellers are vastly competitive and capital-intensive. Based on the corporate brand orientation, the objective is to investigate how the individual dimensions of hotel industry’s brand orientation can improve a corporate experience and subsequently create superior hotel performance and retailer preferences. A model of the integration of the hotel industry’s brand orientation was tested in a survey conducted among MNC resellers from hospitality industry. Structural equation modelling was applied to gain insight into the various influences and relationships. The research makes two main contributions. It makes a theoretical contribution by classifying the integration of the hotel industry’s brand orientation for hospitality industry and from this extrapolate key suggestions for further study. The continuous evolution and economic influence of the hospitality industry require the application of innovative marketing practices. 相似文献
15.
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 offer-based 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. 相似文献
16.
The study measured the extent to which the 1 through 9 digits were used as price endings by suppliers of five tourism services in three different cultures represented by New York City, Seoul, and Shanghai. Four results emerged. The first confirmed the hypothesis, but the other three results were contrary to expectations. First, 9 and 8-ending prices were dominant in New York City and in Shanghai, respectively. Second, these culture specific endings were complemented by the universality of the 0 and 5- digit endings of prices which were ranked first and second, respectively, in Seoul, second and third in Shanghai, and third and second in New York. Third, 9-ending prices were not used more frequently when they resulted in a lowering of the leftmost digit. Fourth, dominant cultural specific price endings were not used more frequently in lower than in higher priced tourism services. 相似文献
17.
Sara Dolnicar 《Asia Pacific Journal of Tourism Research》2013,18(1):29-35
Hotel attribute importance studies have a long tradition in hospitality research. This study investigates the issue for business travelers by asking the respondents to state their expectations and disappointments / dissatisfaction in an open question format instead of rating the importance of attributes directly. The aim of the study is twofold: (1) to learn about expectations and past disappointments of this particular segment to provide additional insight for customizing hotel offers and (2) to investigate whether the findings reported in literature so far are mirrored or not. 相似文献
18.
Exploring competitive hotel selection attributes among guests: An importance-performance analysis 总被引:1,自引:0,他引:1
This study aimed to explore the hotel selection attributes among local guests in the competitive hotel industry in Korea and to test the role of these explored attributes in building behavioral intentions. A total of seven dimensions, which involved 17 intangible and 16 tangible attributes, were identified. The findings indicated that intangible attributes are relatively more important but offer less satisfaction, whereas tangible attributes provide a higher level of satisfaction than perceived importance. Moreover, the importance-performance analysis grid visually depicted the importance and satisfaction ratings of each attribute demonstrating its strengths and weaknesses. All intangible attributes were significantly associated with intentions. 相似文献
19.
Service experience model stipulates the importance of service experience in increasing satisfaction, price acceptance, revisit intentions, etc. It has been extensively tested and validated in hotel management studies. However, the online service experience which, in these days, precedes the physical service experience has not be considered together in most hotel service experience studies. In hotel management literature, studies on online experiences are largely segregated from physical service experience model. In this study, prior online experience model is proposed which includes online experience preceding the physical service encounter, and a survey is administered. Result indicates the strong influence of online experience as a leading construct of the service experience model in hotels. Online experience strongly conditions the customers’ perception of physical service experience and, also, provides good ground for price acceptance. Interestingly, the influence of physical service experience on price acceptance seems to be rather alleviated with online experience, indicating the important role the online experience plays in managing customer perception on hotel service experience. Hotel management needs to pay close attention to their customers’ online experience beyond simple esthetics as the online experience seems to influence all the subsequent components of hotel service model. 相似文献