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Factors Influencing Travel Package Prices

Author

Listed:
  • Gorazd Sedmak

    (University of Primorska, Faculty of Tourism Studies - Turistica)

  • Tina Kociper

    (University of Primorska, Faculty of Tourism Studies - Turistica)

Abstract

The aim of this paper is to define the factors influencing travel package prices offered by Slovenian tour operators and the impact of each factor. A hedonic pricing model for package travels offered on the Internet was developed, and implicit prices of different package features were estimated via the employment of hedonic regression. Previously, similar research was done only for restricted geographical areas, using data obtained from tour operators’ brochures. In the present research, the model was built on the basis of web-accessible information, while different travel destinations throughout the world were taken into consideration. The type of destination and its character were determined to influence package travel pricing. The results also highlight that those packages bearing more cultural experience potential can be sold at higher prices.

Suggested Citation

  • Gorazd Sedmak & Tina Kociper, 2014. "Factors Influencing Travel Package Prices," Academica Turistica - Tourism and Innovation Journal, University of Primorska Press, vol. 7(2), pages 29-40.
    • Handle: RePEc:prp:jattij:v:7:y:2014:i:2:p:29-40
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