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Holiday Rentals in Cultural Tourism Destinations: A Comparison of Booking.com-Based Daily Rate Estimation for Seville and Porto

Author

Listed:
  • Miguel Ángel Solano-Sánchez

    (Faculty of Business Law and Economic Sciences, University of Cordoba, 14002 Cordoba, Spain)

  • José António C. Santos

    (School of Management, Hospitality and Tourism (ESGHT) and Centre for Tourism, Sustainability and Well-Being (CinTurs), University of the Algarve, 8139 Faro, Portugal
    Faculty of Tourism, University of Malaga, 29016 Malaga, Spain)

  • Margarida Custódio Santos

    (School of Management, Hospitality and Tourism (ESGHT) and Centre for Tourism, Sustainability and Well-Being (CinTurs), University of the Algarve, 8139 Faro, Portugal)

  • Manuel Ángel Fernández-Gámez

    (Department of Finance and Accounting, University of Malaga, 29016 Malaga, Spain)

Abstract

Multiple variables determine holiday rentals’ price composition in cultural tourism destinations. This study sought, first, to test a model including the variables with the greatest impact on tourism accommodations’ prices in these destinations and, second, to demonstrate the proposed model’s applicability to cultural city destinations by identifying the adaptations needed to apply it to different contexts. Two cities were selected for the model application—Seville in Spain and Porto in Portugal—both of which are located in different countries and are well-known cultural tourism destinations. The data were extracted from Booking.com because this accommodations platform has adapted its offer to the sharing economy, becoming one of the most important players in the market, and because research on holiday rentals using data from Booking.com is scarce. The results show that the variables used are relevant and highlight the adaptations necessary for specific cultural tourism destinations, thereby indicating that the model can be applied to all cultural tourism destinations. The proposed approach can help holiday rental managers select the correct tools for determining their accommodation units’ daily rates according to their product and marketing context’s characteristics.

Suggested Citation

  • Miguel Ángel Solano-Sánchez & José António C. Santos & Margarida Custódio Santos & Manuel Ángel Fernández-Gámez, 2021. "Holiday Rentals in Cultural Tourism Destinations: A Comparison of Booking.com-Based Daily Rate Estimation for Seville and Porto," Economies, MDPI, vol. 9(4), pages 1-16, October.
    • Handle: RePEc:gam:jecomi:v:9:y:2021:i:4:p:157-:d:660911
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    References listed on IDEAS

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    1. Ulrich Gunter & Irem Önder, 2018. "Determinants of Airbnb demand in Vienna and their implications for the traditional accommodation industry," Tourism Economics, , vol. 24(3), pages 270-293, May.
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    Cited by:

    1. Feifei Tian & Fengzhi Sun & Beibei Hu & Zhitao Dong, 2022. "The Impact on Bed and Breakfast Prices: Evidence from Airbnb in China," Sustainability, MDPI, vol. 14(21), pages 1-15, October.
    2. Margarita Ignatyeva & Vera Yurak & Alexey Dushin, 2022. "Valuating Natural Resources and Ecosystem Services: Systematic Review of Methods in Use," Sustainability, MDPI, vol. 14(3), pages 1-17, February.
    3. Emilio Ramírez-Juidías & José-Lázaro Amaro-Mellado & Jorge Luis Leiva-Piedra, 2022. "Influence of the Urban Green Spaces of Seville (Spain) on Housing Prices through the Hedonic Assessment Methodology and Geospatial Analysis," Sustainability, MDPI, vol. 14(24), pages 1-15, December.

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