Description
Title: A comparison of Seville and Porto’s estimated daily rates from Booking.com for vacation rentals in cultural tourism destinations
Abstract: The price distribution of vacation rentals in destinations for cultural tourism is influenced by a number of factors. This study aimed to demonstrate the proposed model’s applicability to cultural city destinations by identifying the adaptations required to apply it to different contexts. First, it tested a model including the variables having the greatest impact on tourism accommodations’ prices in these destinations. Seville in Spain and Porto in Portugal were chosen as the model cities because they are both popular tourist destinations and are in different countries. Due to the lack of research on vacation rentals using Booking.com data, and because this accommodations platform has adapted its offer to the sharing economy, becoming one of the market’s most significant players, the data were extracted from Booking.com. The findings demonstrate the applicability of the model to all cultural tourism destinations by highlighting the relevance of the variables used and highlighting the modifications required for particular cultural tourism destinations. The suggested method can assist vacation rental managers in making the right tool selections for figuring out the daily rates for their lodging units based on the characteristics of their product and marketing context.
Keywords: daily rate pricing; holiday rentals; hedonic pricing method; Booking.com; sharing economy
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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