THE INFLUENCE OF HOTEL CHARACTERISTICS ON ROOM RATES: A CASE OF VIETNAM
Vol. 131 No. 5B (2022), Original Article
Vol. 131 No. 5B (2022)

THE INFLUENCE OF HOTEL CHARACTERISTICS ON ROOM RATES: A CASE OF VIETNAM

Original Article
https://doi.org/10.26459/hueunijed.v131i5B.6980
Published 2022-12-16
Ho Quoc Dung
School of Engineering and Technology – Hue University, 1 Dien Bien Phu St., Hue, Vietnam
Le Thi Quynh Lien
University of Economics, Hue University, 99 Ho Dac Di St., Hue, Vietnam
Ho Thi Thuy Nga
University of Economics, Hue University, 99 Ho Dac Di St., Hue, Vietnam
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Keywords

hedonic pricing model
hotel
room rate
hotel characteristic

Abstract

The effect of hotel characteristics on hotel room rates has not been adequately studied in the extant literature. The purpose of this study was to use the hedonic pricing method to measure and compare how different factors of hotels affect room rates. After collecting the data on hotel features that consumers use to make lodging decisions on the TripAdvisor website, a hedonic price model with Box-Cox transformations was built with 23 hotel characteristics. The findings indicate that hotel managers can devise strategies to improve the hotel's attractiveness and service quality, and to change and optimize hotel room rates.

https://doi.org/10.26459/hueunijed.v131i5B.6980
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