Market accessibility and hotel prices in the Caribbean: The moderating effect of quality-signaling factors |
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| Affiliation: | 1. School of Tourism and Hospitality Management, Temple University, Philadelphia, PA 19122, USA;2. Department of Geography, University of Florida, Gainesville, FL 32611, USA;3. Rosen College of Hospitality Management, University of Central Florida, Orlando, FL 32819, USA;1. Department of Economics and Management, The Max Stern Academic College of Emek Yezreel, Israel;2. Deparment of Managment, Bar Ilan University, Israel;1. College of Humanities& Social Development, Northwest A & F University, No. 22 XinongRoad, Yangling, Shaanxi, 712100, China;2. Faculty of Technology, Policy and Management, Delft University of Technology, Building 31, Jaffalaan 5, 2628 BX, Delft, The Netherlands;1. School of Sport, Tourism and Hospitality Management, Temple University, 1810 N. 13th Street, Philadelphia, PA 19122, United States;2. Associate Professor and Professor-in-Charge of Global Programs, Director, Tourism Industry Data Analytics Lab (TIDAL), College of Hospitality and Tourism Management, Sejong University, 98 Gunja-Dong, Gwangjin-Gu, Seoul 143-747, Republic of Korea;1. 12 Mackay Hall, 2302 Osborn Dr., Dept. of Apparel, Events, & Hospitality Management, Iowa State University, Ames, IA, 50011-1078, USA;2. 4450 University Drive, Suite S232, Conrad N. Hilton College of Hotel & Restaurant Management, University of Houston, Houston, TX 77204, USA;3. 7E Mackay Hall, 2302 Osborn Dr., Dept. of Apparel, Events, & Hospitality Management, Iowa State University, Ames, IA, 50011-1078, USA;1. School of Hospitality Administration, Boston University, 928 Commonwealth Avenue, Boston 02215, USA;1. School of Tourism and Hospitality Management, South China University of Technology, Guangzhou, China;2. School of Hotel and Tourism Management, Hong Kong Polytechnic University, Hong Kong |
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| Abstract: | The purpose of the paper is to investigate the influence of market accessibility on hotel prices and how this influence is moderated by various quality-signaling factors, such as online user ratings, “thumbs up” (recommendation) percentage, hotel class, and chain affiliation. Using a randomized sample of hotels in the Caribbean islands, we employ a three-level mixed-effect linear regression model to investigate the plausible relationship between market accessibility and hotel prices. After controlling for unobserved island-level and hotel-level characteristics, the model indicates that in most periods, low market accessibility (high flight costs) leads to lower hotel prices, and this influence is mitigated by well-established positive reputations as represented by the quality-signaling factors. Our findings imply that hotels should work to increase their reputations to help buffer the impacts of inaccessibility. In an effort to increase market accessibility, one course of action is to reduce airport landing taxes and fees. |
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| Keywords: | Hedonic price model Caribbean hotels Market accessibility Quality-signaling factor Mixed-effect linear regression |
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