Differences in Seasonal Price Patterns among Second Home Rentals and Hotels: Empirical Evidence and Practical Implications

Albert Saló, Anna Garriga, Ricard Rigall-I-Torrent, Mar Vila and Josep M. Sayeras
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Albert Saló: ESADE, Research Group in Tourism Management (GRUGET), Av. de la Torre Blanca 59, E-08172 Sant Cugat del Vallès, Spain
Anna Garriga: Department of Economics, Universitat de Girona, Facultat de Ciències Econòmiques i Empresarials, Campus Montilivi, 17071 Girona, Spain
Ricard Rigall-I-Torrent: Department of Economics, Universitat de Girona, Facultat de Ciències Econòmiques i Empresarials, Campus Montilivi, 17071 Girona, Spain
Mar Vila: ESADE, Research Group in Tourism Management (GRUGET), Av. Pedralbes 60–62, E-08034 Barcelona, Spain
Josep M. Sayeras: ESADE, Research Group in Tourism Management (GRUGET), Av. Pedralbes 60–62, E-08034 Barcelona, Spain

Tourism Economics, 2012, vol. 18, issue 4, 731-747

Abstract: Hotels and second home rentals are two of the most important tourist accommodation options in Spain. In terms of seasonality, almost all previous studies have analysed tourism demand from the point of view either of total arrivals or the number of tourists lodged in a single accommodation type (hotels, rural accommodation, etc). However, there are no studies focusing on price seasonality or comparing seasonality among different accommodation types. By using seasonality indicators and a price index constructed by means of hedonic methods, this paper aims to shed some light on seasonal pricing patterns among second home rentals and hotels. The paper relies on a 2004 database of 144 hotels and 1,002 apartments on the Costa Brava (northeast Spain). The results show that prices for second home rentals display a smoother seasonal pattern than hotels due to reduced price differences between shoulder (May and October) and peak periods (August).

Keywords: seasonality; second homes; hotels; prices; Costa Brava (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:18:y:2012:i:4:p:731-747

DOI: 10.5367/te.2012.0141

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