A room with a view—A valuation of the Mediterranean Sea view

Aliza Fleischer ()

Tourism Management, 2012, vol. 33, issue 3, 598-602

Abstract: Aesthetic view is one of the ecosystem services of the Mediterranean Sea which can be estimated using price differences in the hotel market. Hotels situated on the Mediterranean Sea charge higher prices for a room with a sea view than for a room without it. The value of this view in 10 major Mediterranean regions was estimated in this paper using a hedonic price method. Data on 2819 hotel rooms in high season and 2406 rooms in the low season were collected from Booking.com and fixed effects regression was used to estimate the model coefficients. Hotel room prices were found to be higher by about 10% for a room with a view than for one with no view specification. No significant difference was found between regions or season. These findings lend support to the fact that the view of the Mediterranean is equally valued in all regions.

Keywords: Sea view; Mediterranean; Hedonic prices; Fixed effects regression (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (16)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0261517711001397

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:touman:v:33:y:2012:i:3:p:598-602

DOI: 10.1016/j.tourman.2011.06.016

Access Statistics for this article

Tourism Management is currently edited by Chris Ryan

More articles in Tourism Management from Elsevier
Bibliographic data for series maintained by Catherine Liu ().