Using a spatial hedonic analysis to evaluate the effect of sea view on hotel prices
Tourism Management, 2018, vol. 65, issue C, 87-99
This paper attempts to examine the effect of sea view to room rates alongside other structural and locational attributes. Specifically, it aims to test whether rooms with a sea view are priced higher than others, thus trying to quantify the associated aesthetic values of coastal areas where tourism-related development is a key economic activity. For this purpose, a sample of 557 rooms in Halkidiki, Greece was collected through an online database during the summer tourist season. Subsequently, these data were integrated into a GIS-system in order to apply a spatial hedonic model. A semi-parametric geographically weighted regression model was used to assess the local effects, as well as, to investigate the spatial variability of the selected attributes. The results exhibited a significant spatial variability concerning the effect of sea view to room rates, indicating that local natural and/or tourism resources may have a substantial role in aesthetic values.
Keywords: Coastal tourism; Sea view; Accommodation price; Hedonic pricing method; Geographically weighted regression analysis (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:touman:v:65:y:2018:i:c:p:87-99
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