{"id":3229,"date":"2016-05-12T10:18:19","date_gmt":"2016-05-12T10:18:19","guid":{"rendered":"https:\/\/microsites.bournemouth.ac.uk\/tourism\/?p=3229"},"modified":"2016-04-30T20:36:34","modified_gmt":"2016-04-30T20:36:34","slug":"new-paper-strategic-and-tactical-price-decisions-in-hotel-revenue-management","status":"publish","type":"post","link":"https:\/\/microsites.bournemouth.ac.uk\/tourism\/2016\/05\/12\/new-paper-strategic-and-tactical-price-decisions-in-hotel-revenue-management\/","title":{"rendered":"New Paper: Strategic and tactical price decisions in hotel revenue management"},"content":{"rendered":"
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\u00a0New Research paper:<\/div>\n
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\u00a0Graziano Abrate<\/a>\u00a0<\/span>Giampaolo Viglia<\/a>\u00a02016,<\/div>\n
Strategic and tactical price decisions in hotel revenue management,<\/div>\n
Tourism Management<\/a>\u00a0Volume 55<\/a>, August 2016, Pages 123\u2013132<\/div>\n
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\u00a0doi:10.1016\/j.tourman.2016.02.006<\/a><\/div>\n
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Highlights<\/h2>\n
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\u2022The study proposes and empirically validates a dynamic pricing framework.<\/dt>\n
\u2022Three groups of factors are identified in their strategic and tactic dimensions.<\/dt>\n
\u2022The Shapley-Owen decomposition of R-squared is applied to price regression models.<\/dt>\n
\u2022Results allow measuring the relative weight of pricing determinants.<\/dt>\n
\u2022Contextual variables have a relevant role in short-run price variations.<\/dt>\n<\/dl>\n<\/div>\n
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Abstract<\/h2>\n

Dynamic pricing techniques allow using a number of variables in a tactical way compared to standard catalogue prices. This study merges in a conceptual model the relevance of the tactical and the strategic dimension of these variables, classified according to their tangible, reputational or contextual nature.\u00a0To empirically validate the hypotheses, a database of 21.596 price observations was retrieved from booking.com<\/a><\/span>. The study presents a hedonic price function, using the Shapley-Owen decomposition of the R-squared to elicit the importance of each group of factors. Further, a hierarchical cluster analysis measures the presence of heterogeneity across operators.\u00a0The results show that online reputation is gaining importance over the traditional star rating. Despite the tangible variables remain of paramount importance, the findings suggest the relevant role of contextual variables in short-run price variations. The players operating in the tourism and hospitality industries should integrate these findings when designing pricing strategies.<\/p>\n<\/div>\n

Keywords<\/h2>\n