Impact of location on profitability in the Spanish hotel sector |
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| Affiliation: | 1. Department of Financial Economics and Accounting, University of Santiago de Compostela, Facultad de CCEE, C/ Burgos das Nacións s/n, Santiago de Compostela 15782, A Coruña, Galicia, Spain;2. Department of Business Economics, University of the Balearic Islands Palma de Majorca, C/ de Valldemosa Km 7,5, Campus UIB, 07122, Balearic Islands, Spain;1. Institute of Tourism and Sustainable Economic Development. University of Las Palmas GC, Spain;2. Facultad de Economía Empresa y Turismo, módulo D, Campus de Tafira, 35017 Las Palmas G.C., Spain;1. Tourism College, Beijing Union University, Beijing, China;2. China-New Zealand Tourism Research Unit, University of Waikato Management School, Hamilton, New Zealand;3. Department of Tourism and Hospitality Management, University of Waikato Management School, Hamilton, New Zealand;1. IULM University, Istituto di Economia e Marketing, via Carlo Bo, 1, I-20143 Milan, Italy;2. Dondena Center for Research on Social Dynamics, Bocconi University, via Röntgen, 1, 20136 Milan, Italy;1. University of Santiago de Compostela, Spain;2. University of Coruña, Spain |
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| Abstract: | This paper analyzes the impact of market structure on hotel profitability in a sample of 8992 Spanish hotels in 2005–2011, using variables relating to the hotel and tourist destination in addition to structure–conduct–performance (SCP) and Chicago School frameworks simultaneously. The results show that profitability depends largely on the market structure and the level of demand of the tourist destination and we confirm the SCP proposals. Regarding characteristics of each hotel, there are unobservable characteristics which influence on profitability and we identify the existence of economies of scale. |
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| Keywords: | Location Profitability Market structure Hotel |
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