Using the Hedonic Price Model to Examine the Impact of Location on Room Rates in the East Black Sea Region (TR9)

Yıl 2022, Cilt: 14 Sayı: 27, 435 - 452, 29.11.2022

Özgül Bilici , Elif Karaahmetoğlu

https://doi.org/10.20990/kilisiibfakademik.1169807

Cited By: 1

Öz

Despite the destructive impact of the Covid-19 Pandemic, tourism is one of the Turkey’s dynamic and fastest growing sectors. In recent years, the sector started to attract visitors for alternative forms of tourism such as sports, health and nature tourism. Lately, the East Black Sea Region (TR9) is preferred by outdoor sports and nature enthusiasts. The constant growth in tourist arrivals and overnights have increased both supply and demand for tourist accommodation which is considered as a differentiated product in terms of pricing. There is a variety of attributes or 'characteristics' on the rates charged for hotel rooms. To this end, this study aims to seek the attributes that influence the overall prices of tourism facilities using hedonic price methods. The particular impact of location on room rates is investigated. The results show that star category, hotel and room size, parking, beach, and Arabic speaking staff are significantly associated with room rates. Moreover, tourists are willing to pay more for accommodations that are close to the airport and visiting sites which are mostly located in highlands in the region. Therefore, the location of accommodation establishments in the region explains the price differences in terms of accessibility and site selection. The results would be useful for hotel managers and local policy-makers in order for design their pricing policies to attract more tourists to the region.

Anahtar Kelimeler

The East Black Sea Region, Room Rates, Location, Hedonic Price Model

Doğu Karadeniz Bölgesinde (TR9) Konumun Oda Fiyatları üzerine Etkisinin Hedonik Fiyat Modeli ile İncelenmesi

Öz

Covid-19 Pandemisinin yıkıcı etkilerine rağmen, turizm sektörü Türkiye’nin dinamik ve en hızlı büyüyen sektörlerinden biridir. Son yıllarda, sektör spor, sağlık ve doğa turizmi gibi alternatif turizm alanlarında da turist çekmeye başlamıştır. Son zamanlarda Doğu Karadeniz Bölgesi (TR9) doğa sporları için ve doğa tutkunları tarafından tercih edilmektedir. Turist gelişlerinde ve gecelemelerde yaşanan sürekli artış, fiyatlandırma açısından farklılaştırılmış bir ürün olarak kabul edilen turistik konaklamaya yönelik hem arz hem de talebi artırmıştır. Otel odaları için fiyatlandırma yapılırken çeşitli nitelikler veya 'özellikler' söz konusudur. Bu doğrultuda, bu çalışma, hedonik fiyat yöntemini kullanarak turizm tesislerinin fiyatlarını etkileyen genel özellikleri araştırmayı amaçlamaktadır. Çalışmada, özellikle konumun oda fiyatları üzerindeki etkisi araştırılmaktadır. Bulgular, yıldız sayısının, tesis ve oda büyüklüğünün, otoparka, kumsala ve Arapça konuşan personele sahip olmanın oda fiyatları ile anlamlı ilişkisi olduğunu göstermiştir. Ayrıca, turistlerin hava alanına ve çoğunluğu yaylalarda yer alan ziyaret noktalarına yakın tesislere daha yüksek fiyat ödemeye istekli olduğu bulunmuştur. Bu nedenle, tesis konumu ulaşılabilirlik ve de yer seçimi açısından bölgedeki oda fiyatlarını farklılaştırmaktadır
Sonuçlar, bölgeye daha fazla turist çekmek için fiyatlandırma politikalarını tasarlamak adına otel yöneticileri ve yerel politika yapıcılar için faydalı olacaktır.

Anahtar Kelimeler

Doğu Karadeniz Bölgesi, Oda Fiyatları, Konum, Hedonik Fiyat Modeli

Kaynakça

• Abrate, G., Capriello, A., & Fraquelli, G. (2011). When quality signals talk: Evidence from the Turin Hotel Industry. Tourism Management, 32(4), 912-921. doi:10.1016/j.tourman.2010.08.006.
• Alegre, J., Cladera, M., & Sard, M. (2013). Tourist areas: Examining the effects of location attributes on tour-operator package holiday prices. Tourism Management, 38, 131-141. doi:10.1016/j.tourman.2013.02.011.
• Andersson, D. E. (2008). Hotel attributes and hedonic prices: An analysis of internet-based transactions in Singapore’s market for Hotel Rooms. The Annals of Regional Science, 44(2), 229-240. doi:10.1007/s00168-008-0265-4.
• Chen, C., & Rothschild, R. (2010). An application of hedonic pricing analysis to the case of hotel rooms in Taipei. Tourism Economics, 16(3), 685-694. doi:10.5367/000000010792278310 Chen, Y., & Xie, K. (2017). Consumer Valuation of Airbnb listings: A hedonic pricing approach. International Journal of Contemporary Hospitality Management, 29(9), 2405-2424. doi:10.1108/ijchm-10-2016-0606
• Court, A.T. (1939). Hedonic Price Indexes with Automobile Examples, In: The Dynamics of Automobile Demand, General Motors
• Corporation, 99-117, http://homepages.rpi.edu/home/78/simonk/public_html/pdf/gm1939.pdf, Accessed: February28, 2022.
• DOKA (2015). Doğu Karadeniz Bölgesinde Arap turizmi: Mevcut durum ve gelişme stratejisi raporu, https://www.doka.org.tr/dosyalar/editor/files/dogu-karadeniz-bolgesinde-arap-turizmi-mevcut-durum-analizi-ve-gelisme-stratejisi.pdf, Accessed: May 1, 2022.
• Düzgün, İ. & Ödemiş, M. (2020). Arap Turistlerin Doğu Karadeniz Bölgesi’ne ekonomik katkılarını belirlemeye yönelik bir araştırma, Gaziantep University Journal of Social Sciences, 19(1), 109-123.
• Espinet, J., Saez, M., Coenders, G., & Fluvià, M. (2003). Effect on prices of the attributes of holiday hotels: A hedonic prices approach. Tourism Economics, 9(2), 165-177. doi:10.5367/000000003101298330.
• Falk, M. (2008). A hedonic price model for ski lift tickets. Tourism Management, 29(6), 1172-1184. doi:10.1016/j.tourman.2008.02.021.
• Fleischer, A. (2012). A room with a view—a valuation of the Mediterranean Sea View. Tourism Management, 33(3), 598-602. doi:10.1016/j.tourman.2011.06.016.
• Garcia-Pozo, A., Sanchez-Ollero, J., & Marchante-Mera, A. (2013). Environmental sustainability measures and their impacts on hotel room pricing in Andalusia (southern Spain). Environmental Engineering and Management Journal, 12(10), 1971-1978. doi:10.30638/eemj.2013.246.
• Gibbs, C., Guttentag, D., Gretzel, U., Morton, J., & Goodwill, A. (2017). Pricing in the sharing economy: A hedonic pricing model applied to Airbnb listings. Journal of Travel & Tourism Marketing, 35(1), 46-56. doi:10.1080/10548408.2017.1308292
• Goodman, A. C., & Thibodeau, T. G. (2003). Housing market segmentation and hedonic prediction accuracy. Journal of Housing Economics, 12, 181-201. doi:10.1016/S1051-1377(03)00031-7.
• Hamilton, J. M. (2007). Coastal landscape and the hedonic price of accommodation. Ecological Economics, 62 (3-4), 594-602. https://doi.org/10.1016/j.ecolecon.2006.08.001
• Herrmann, R., & Herrmann, O. (2014). Hotel roomrates under the influence of a large event: The Oktoberfest in Munich 2012. International Journal of Hospitality Management, 39, 21-28. doi:10.1016/j.ijhm.2014.01.006.
• Houthakker H., (1952), Compensated changes in quantities and qualities consumed, Review of Economic Studies, 19, 155-164.
• Işık, C., & Bilici, N. (2016). Otel oda fiyatlarının hedonik model ile analizi: Erzurum örneği. Atatürk Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 21(1), 305-315.
• Israeli, A. A. (2002). Star rating and corporate affiliation: Their influence on room price and performance of hotels in Israel. International Journal of Hospitality Management, 21(4), 405-424. doi:10.1016/s0278-4319(02)00037-3.
• Juaneda, C., Raya, J. M., & Sastre, F. (2011). Pricing the time and location of a stay at a hotel or apartment. Tourism Economics, 17(2), 321–338. doi:10.5367/te.2011.0044
• Karadeniz Turizmi’nde Son, Durum, https://www.turizmajansi.com/haber/karadeniz-turizminde-son-durum-volkan-kantarci-turizm-ajansi-na-anlatti-h49518, Accessed: 27 April, 2022.
• Kaya, F. & Yildirim, G. (2020). Ekoturizm potansiyeli açısından Doğu Karadeniz Bölgesi’nin Değerlendirilmesi, Tourism and Recreation, 2(1), 125-133.
• Kennedy, P. (2008). A guide to econometrics (6th ed.). Malden, MA: Blackwell.
• Kervankıran, I. & Sert Eteman, F. (2020). Turizm ve bölgesel gelişme: Türkiye’de illerin turizm gelişmişlik düzeylerinin belirlenmesi, Ege Coğrafya Dergisi, 29(2), 125-140.
• Kesbiç, C. Y., Bahar, O., Baldemir, E., & İnci, M. (2011). Muğla deniz turizminde hizmet niteliğinin piyasa fiyatı üzerindeki etkileri: Hedonik fiyatlandırma modeli. Finans Politik Ve Ekonomik Yorumlar Dergisi, 48(555), 65-82.
• Khan, A. A. (2020). Projections of Tourist Arrivals in the Eastern Black Sea Region of Turkey, Coğrafi Bilimler Dergisi/ Turkish Journal of Geographical Sciences, 18(1), 85-98, doi: 10.33688/ aucbd.688738.
• Kültür ve Turzim Bakanlığı (2012). Turizm’de Karadeniz imajı, 2017 Öncesi Duyurular, https://trabzon.ktb.gov.tr/TR-57546/turizmde-karadeniz-imaji.html, Accessed: 27 April, 2022.
• Kuminoff, N. V., Zhang, C., & Rudi, J. (2010). Are travellers willing to pay a premium to stay at a “green” hotel? evidence from an internal meta-analysis of hedonic price premia. Agricultural and Resource Economics Review, 39(3), 468-484. doi:10.1017/s1068280500007450
• Lancaster, K. J. (1966). A new approach to consumer theory. Journal of Political Economy, 74(2), 132-157. doi:10.1086/259131. Lee, S., & Jang, S. (2010). Room rates of U.S. Airport Hotels: Examining the dual effects of proximities. Journal of Travel Research, 50(2), 186-197. doi:10.1177/0047287510362778
• Liu, Y. (2016). The influence of customer ratings and hotel attributes on prices in urban centres in Canada and China (Unpublished master's thesis). School of Hospitality, Food and Tourism Management, The University of Guelph. Retrieved February 16, 2022, from http://hdl.handle.net/10214/10005
• Monty, B., & Skidmore, M. (2003). Hedonic pricing and willingness to pay for bed and breakfast amenities in southeast Wisconsin. Journal of Travel Research, 42(2), 195-199. doi:10.1177/0047287503257500.
• Oh C.O., Draper J., Dixon A.W., (2009), Assessing tourists' multi-attribute preferences for public beach access, Coastal Management, 37, 119-135. https://doi.org/10.1080/08920750802701128.
• Palmquist, R. B. (2005). Chapter 16 Property Value Models. Handbook of Environmental Economics, 2, 763-819. doi:10.1016/s1574-0099(05)02016-4
• Papatheodorou, A. (2002). Exploring competitiveness in Mediterranean resorts. Tourism Economics, 8(2), 133-150. doi:10.5367/000000002101298034
• Rigall-I-Torrent, R., & Fluvià, M. (2011). Managing tourism products and destinations embedding public good components: A hedonic approach. Tourism Management, 32(2), 244-255. doi:10.1016/j.tourman.2009.12.009.
• Rigall-I-Torrent, R., Fluvià, M., Ballester, R., Saló, A., Ariza, E., & Espinet, J. (2011). The effects of beach characteristics and location with respect to hotel prices. Tourism Management, 32(5), 1150-1158. doi:10.1016/j.tourman.2010.10.005.
• Rosen, S. (1974). Hedonic prices and implicit markets: Product differentiation in pure competition. Journal of Political Economy, 82(1), 34-55. doi:10.1086/260169.
• Rosson, S., & Zirulia, L. (2018). A hedonic price model for ski lift tickets in the Dolomites. Worldwide Hospitality and Tourism Themes, 10(2), 222-235. doi:10.1108/whatt-12-2017-0082
• Saló, A., Garriga, A., Rigall-I-Torrent, R., Vila, M., & Fluvià, M. (2014). Do implicit prices for hotels and second homes show differences in tourists’ valuation for public attributes for each type of accommodation facility? International Journal of Hospitality Management, 36, 120-129. doi:10.1016/j.ijhm.2013.08.011
• Sánchez-Ollero, J. L., García-Pozo, A., & Marchante-Mera, A. (2013). How does respect for the environment affect final prices in the hospitality sector? A hedonic pricing approach. Cornell Hospitality Quarterly, 55(1), 31-39. doi:10.1177/1938965513500709
• Schamel, G. (2012). Weekend vs. midweek stays: Modelling hotel room rates in a small market. International Journal of Hospitality Management, 31(4), 1113-1118. doi:10.1016/j.ijhm.2012.01.008.
• Soler, I. P., & Gémar, G. (2016). The impact of family business strategies on hotel room prices. European Journal of Family Business, 6(1), 54-61. doi:10.1016/j.ejfb.2016.06.003
• Soler, I. P., & Gemar, G. (2018). Hedonic price models with geographically weighted regression: An application to hospitality. Journal of Destination Marketing & Management, 9, 126-137. doi:10.1016/j.jdmm.2017.12.001.
• Soler, I. P., Gemar, G., & Sanchez-Ollero, J. L. (2016). Are green hotels expensive? the impact of eco-friendly policies on hotel prices in Spanish cities. Environmental Engineering and Management Journal, 15(7), 1511-1517. doi:10.30638/eemj.2016.162
• Thrane, C. (2005). Hedonic price models and sun-and-beach package tours: The Norwegian case. Journal of Travel Research, 43(3), 302-308. doi:10.1177/0047287504272034.
• Thrane, C. (2007). Examining the determinants of room rates for hotels in capital cities: The Oslo Experience. Journal of Revenue and Pricing Management, 5(4), 315-323. doi:10.1057/palgrave.rpm.5160055
• Tong, B., & Gunter, U. (2020). Hedonic pricing and the sharing economy: How profile characteristics affect airbnb accommodation prices in Barcelona, Madrid, and Seville. Current Issues in Tourism, 1-20. doi:10.1080/13683500.2020.1718619.
• Tung, G., Lai, P., & Huang, H. (2011). Using the hedonic price model for the international hotels in Taiwan. Asian Journal of Business and Management Sciences, 1(1), 189-196.
• Üstündağ, H., & Işık, S. (2018). Antalya bölgesi̇nde otel oda fi̇yatlarının tahmini. Seyahat ve Otel İşletmeciliği Dergisi, 15(3), 703-716. doi:10.24010/soid.460062
• Wallace H.A., (1926), Comparative farmland values in Iowa, Journal of Land and Public Utility Economics, 2, 385-392.
• Wang, X., Sun, J., & Wen, H. (2019). Tourism seasonality, online user rating and hotel price: A quantitative approach based on the hedonic price model. International Journal of Hospitality Management, 79, 140-147. doi:10.1016/j.ijhm.2019.01.007.
• Waught F.V., (1928), Quality factors influencing vegetable prices, Journal of Farm Economics, 10, 185-196.
• Wooldridge, J. M. (2009). Introductory econometrics: A modern approach (4th ed.). Mason, OH: South Western, Cengage Learning.
• Yalçın, F., & Mert, M. (2018). Determination of hedonic hotel room prices with spatial effect in Antalya. Economía Sociedad Y Territorio, 18(58), 697-734. doi:10.22136/est20181228.
• Yang, Y., Mueller, N. J., & Croes, R. R. (2016). Market accessibility and hotel prices in the Caribbean: The moderating effect of quality-signaling factors. Tourism Management, 56, 40–51. doi:10.1016/j.tourman.2016.03.021.
• Zhang, H., Zhang, J., Lu, S., Cheng, S., & Zhang, J. (2011). Modelling hotel room price with geographically weighted regression. International Journal of Hospitality Management, 30(4), 1036-1043. doi:10.1016/j.ijhm.2011.03.010.