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Worldwide hedonic prices of subjective characteristics of hostels

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  • de Oliveira Santos, Glauber Eduardo

Abstract

An overnight at an accommodation establishment might be understood as a package of several different items. Since they are not traded separately in the market, their values for the consumer are difficult to measure. On the other hand, this information is be useful for managers to develop better strategies regarding the mix of services and facilities of their establishments. Analytical decomposition of total prices by different characteristics can be done through hedonic price techniques. In this paper, hedonic prices are used to analyze the impact of different characteristics on prices of hostels. Accommodation prices of more than 8000 hostels worldwide are explained by their characteristics as rated by guests. Results show that the most relevant characteristics are cleanliness, location and facilities.

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  • de Oliveira Santos, Glauber Eduardo, 2016. "Worldwide hedonic prices of subjective characteristics of hostels," Tourism Management, Elsevier, vol. 52(C), pages 451-454.
    • Handle: RePEc:eee:touman:v:52:y:2016:i:c:p:451-454
    DOI: 10.1016/j.tourman.2015.07.001
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    2. Viglia, Giampaolo & Abrate, Graziano, 2017. "When distinction does not pay off - Investigating the determinants of European agritourism prices," Journal of Business Research, Elsevier, vol. 80(C), pages 45-52.
    3. Lawani, Abdelaziz & Reed, Michael R. & Mark, Tyler & Zheng, Yuqing, 2019. "Reviews and price on online platforms: Evidence from sentiment analysis of Airbnb reviews in Boston," Regional Science and Urban Economics, Elsevier, vol. 75(C), pages 22-34.
    4. Aldric Vives & Marta Jacob & Marga Payeras, 2018. "Revenue management and price optimization techniques in the hotel sector," Tourism Economics, , vol. 24(6), pages 720-752, September.

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