IDEAS home Printed from https://ideas.repec.org/p/ucm/doctra/15-05.html

Are Innovations relevant for consumers in the hospitality industry? A hedonic approach for Cuban hotels
[¿Son relevantes las innovaciones para los consumidores en la industria hotelera? Una aproximación hedònica para los hoteles cubanos]

Author

Listed:
  • Mario Raúl de la Peña

    ( Universidad Oscar Lucero de Holguín)

  • Juan A. Núñez-Serrano

    ( Departamento de Economía Aplicada. Universidad Autónoma de Madrid.
    Grupo de Investigación en Productividad, Innovación y Competencia (GRIPICO) (Group for Research in Productivity, Innovation and Competition), Facultad de Ciencias Económicas y Empresariales (Faculty of Economics and Business), Universidad Complutense de Madrid (Complutense University of Madrid))

  • Jaime Turrión Sánchez

    ( Departamento de Economía Aplicada. Universidad Autónoma de Madrid.
    Grupo de Investigación en Productividad, Innovación y Competencia (GRIPICO) (Group for Research in Productivity, Innovation and Competition), Facultad de Ciencias Económicas y Empresariales (Faculty of Economics and Business), Universidad Complutense de Madrid (Complutense University of Madrid))

  • Francisco Javier Velázquez Angona

    ( Departamento de Economía Aplicada II (Estructura Económica y Economía Industrial). Universidad Complutense de Madrid.
    Grupo de Investigación en Productividad, Innovación y Competencia (GRIPICO) (Group for Research in Productivity, Innovation and Competition), Facultad de Ciencias Económicas y Empresariales (Faculty of Economics and Business), Universidad Complutense de Madrid (Complutense University of Madrid))

Abstract

This paper evaluates the impact of innovative activity in the hotel industry on the willingness to pay by consumers. To this end we estimate a hedonic price function where innovation is identified indirectly through certain attributes. The contrast is performed on a representative sample of Cuban hotels considering a large number of attributes of hotels and rooms. To solve the usual problems of collinearity an original procedure is developed. The results highlight the importance of the attributes linked to innovation and internationalization on the price of the rooms of Cuban hotels.

Suggested Citation

  • Mario Raúl de la Peña & Juan A. Núñez-Serrano & Jaime Turrión Sánchez & Francisco Javier Velázquez Angona, 2015. "Are Innovations relevant for consumers in the hospitality industry? A hedonic approach for Cuban hotels [¿Son relevantes las innovaciones para los consumidores en la industria hotelera? Una aproxim," Documentos de trabajo de la Facultad de Ciencias Económicas y Empresariales 15-05, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales.
    • Handle: RePEc:ucm:doctra:15-05
    as

    Download full text from publisher

    File URL: https://eprints.ucm.es/id/eprint/33111/1/1505.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Guizzardi, Andrea & Mariani, Marcello M. & Stacchini, Annalisa, 2022. "A temporal construal theory explanation of the price-quality relationship in online dynamic pricing," Journal of Business Research, Elsevier, vol. 146(C), pages 32-44.
    2. Hidalgo, Alberto, 2024. "Your room is ready: Tourism and urban revival," Regional Science and Urban Economics, Elsevier, vol. 109(C).
    3. Kim, Jinwon & Jang, Seongsoo & Kang, Sanghoon & Kim, SeungHyun (James), 2020. "Why are hotel room prices different? Exploring spatially varying relationships between room price and hotel attributes," Journal of Business Research, Elsevier, vol. 107(C), pages 118-129.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    JEL classification:

    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ucm:doctra:15-05. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Águeda González Abad (email available below). General contact details of provider: https://edirc.repec.org/data/feucmes.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.