Where Should I Locate My Hotel? An In-Depth Analysis of the Cluster Effect on Hotel Performance

Angel Peiró-Signes (), Marival Segarra-Oña (), Rohit Verma () and Luis Miret-Pastor ()
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Angel Peiró-Signes: Universitat Politècnica de València
Marival Segarra-Oña: Universitat Politècnica de València
Rohit Verma: Cornell University
Luis Miret-Pastor: Universitat Politècnica de València, Campus de Gandia

A chapter in Agglomeration and Firm Performance, 2018, pp 95-122 from Springer

Abstract: Abstract In this paper we analyse economic data over a period of 5 years from the Smith Travel Research (STR) database using an event study technique to compare economic performance among a total of 27,207 hotels, 4339 of them located in US touristic clusters. The aim of the research is to determine if the cluster effect is affecting the economic performance of hotels. Hotels are segmented and compared to similar groups in terms of revenue, scale, location, and affiliation, and then each of the hotels within a touristic cluster is compared to a similar group of outside-cluster hotels. Though the mean values for economic performance are higher than those properties located in clusters, specific analysis suggests that the cluster effect is not affecting all the hotels in the same way and that property level influences the economic performance of hotels within a touristic cluster.

Keywords: US touristic clusters; Cluster effect; Hotels’ economic performance; Event studies; Location (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:adspcp:978-3-319-90575-4_7

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DOI: 10.1007/978-3-319-90575-4_7

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