Adopting the metaverse in the luxury hotel business: a cost–benefit perspective

Mustafeed Zaman, Prof Rajibul Hasan, Tan Vo-Thanh, Riad Shams, Mizan Rahman and K. Mohamed Jasim
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Mustafeed Zaman: Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School
Prof Rajibul Hasan: Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School
Tan Vo-Thanh: CERIIM - Centre de Recherche en Intelligence et Innovation Managériales - Excelia Group | La Rochelle Business School, Excelia Group | La Rochelle Business School
Riad Shams: Northumbria University [Newcastle]
Mizan Rahman: University of Lincoln [UK]
K. Mohamed Jasim: VITBS - VIT Business School

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Abstract: Purpose This study aims to examine the perceived values of the metaverse when adopting it in the luxury hospitality business. Based on the cost–benefit perspective, this research provides solid theoretical contributions and actionable managerial recommendations. Design/methodology/approach An exploratory sequential mixed-method design was used. For the qualitative phase, 21 hotel managers and 24 hotel guests (who often stay in four-star and five-star hotels and resorts) were interviewed after showing them a series of videos about using the metaverse in the hotel business. Based on the results of the qualitative phase, the analytic hierarchy process method was used, and 476 valid questionnaires were analyzed. Findings The results highlight the perceived benefits (personalized services, immersive experience and positive brand image) and costs (lack of human touch, time and effort and security and privacy) of metaverse adoption for hotel managers and their guests. In addition, the study determines the weight of each value attribute of metaverse adoption for each travel stage (pre-travel, during travel and post-travel). Practical implications Regarding metaverse adoption, the research offers practical suggestions for luxury hotels. For instance, the cost of equipment and the time and effort required are perceived costs of metaverse adoption. To address these challenges, hotels may offer free equipment (e.g. VR headsets) and training to their guests to stimulate the use of the metaverse. Originality/value This study addresses a gap in the literature by presenting a conceptual framework for examining metaverse adoption in the luxury hotel scenario. Unlike using conventional models like the technology acceptance model or the unified theory of acceptance and use of technology to investigate a technology's adoption, this study stands out by unraveling the topic through the lens of value proposition. The latter often comes from an efficient value co-creation process, which is indeed shaped by an adequate appreciation of the congruence of perceived values (i.e. perceived benefits and costs) of metaverse from hotel manager and guest perspectives.

Keywords: Metaverse adoption; Luxury hotel experience; Immersive hotel experience; Cost-benefit perspective; Virtual interaction (search for similar items in EconPapers)
Date: 2024-02-28
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Published in International Journal of Contemporary Hospitality Management, 2024, ⟨10.1108/IJCHM-08-2023-1265⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04974520

DOI: 10.1108/IJCHM-08-2023-1265

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